CO280, an innovative project developer, aims to deploy carbon capture at pulp and paper mills. They have now landed a historic $20 million deal with Microsoft to take carbon removal to the next level. Joint Research Project This collaboration largely benefits from CO280’s transformative focus on sustainability. This includes their plans to net negative capture 100% of the carbon dioxide emissions from their planned facility in the Gulf Coast. To do that, the project will have to play an important role. More importantly, it will get Microsoft closer to its ambitious goal of being carbon-negative by 2030.
The Gulf Coast mill’s carbon capture project would only capture about 40% of its biogenic CO2 output. This up to 70% reduction in real-world pollution will produce enormous benefits for the environment. The facility aims to capture around 30% of the total CO2 emissions, which includes emissions from fossil fuels used in the mill’s operations. CO280 is partnering with SLB Capturi to help move this cutting-edge project into action. SLB Capturi is the joint venture formed between SLB and Aker Carbon Capture.
Forestry’s Role in Carbon Capture
Jonathan Rhone, CO280’s CEO, noted the natural efficiency of trees when it comes to capturing carbon. He stated, “The trees do all the heavy lifting by capturing CO2 from the atmosphere.” This declaration highlights the crucial part that forestry can and must play in the process.
Starting in 2028, CO280 expects the facility to begin removing CO2 at a scale that will produce valuable carbon removal credits. These credits are then sold to a variety of companies. One fascinating buyer is Frontier, an advanced market commitment initiative funded by industry heavyweights like Stripe, Google, Shopify, and Meta. Currently, CO280 sells its carbon credits at about $200 per metric ton. What’s more, buyers can drastically lower their expenses through tax credits available as part of the Inflation Reduction Act.
Microsoft’s recent purchase will cover 12 years of emissions from CO280’s first carbon capture project. This smart acquisition further strengthens Microsoft’s bigger sustainability play. It strengthens the company’s pledge to minimize its environmental footprint and advance breakthrough carbon solutions.
As the leading voice of the carbon capture industry, CO280 is committed to expanding that impact. At present, it has a dozen more projects in development Rhone’s deep background getting power plants sold into the pulp and paper industry. This background is truly unique to prepare him to understand deeply the operational challenges and opportunities in this space.
Author’s Opinion
CO280’s partnership with Microsoft is a significant step toward scaling carbon capture technologies, especially in the context of industrial applications like pulp and paper mills. By securing such an investment, CO280 is not only advancing its environmental mission but also strengthening the practical implementation of carbon removal at a large scale. Microsoft’s support plays a pivotal role in accelerating these efforts and achieving its sustainability goals, while offering a potential model for future collaborations in the rapidly growing carbon capture market. However, the true test will be whether these solutions can be replicated across other industries and whether the carbon credits market will support this ambitious growth.
Featured image credit: Wikimedia Commons
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