Amazon has entered into a 10-year agreement to purchase of 250,000 metric tons (mt) of carbon CO2 (CDR) credits from 1PointFive, a carbon capture, utilization and sequestration company, 1PointFive said in a Sept. 12 press release.
The direct air capture credit (DAC) removal purchase is the technology industry’s largest agreement with 1PointFive, a subsidiary of Occidental Petroleum. The company announced a similar agreement in August with Japanese airline carrier All Nippon Airways.
The CDR credits for Amazon will be enabled by 1PointFive’s first commercial-scale DAC plant, Stratos. The plant, which is currently under construction, is designed to capture up to 500,000 mt of CO2 annually, making it the largest DAC plant in the world. Under the agreement with Amazon, the captured CO2 underlying the CDR credits will be stored in saline reservoirs that are not associated with oil and gas production.
“Amazon’s purchase and long-term contract represent a significant commitment to direct air capture as a vital carbon removal solution,” Michael Avery, 1PointFive president and general manager, said in the press release. “The addition of 1PointFive’s high-integrity, quantifiable carbon removal credits support Amazon’s path to achieve net zero and shows the growing role that DAC technology will play in decarbonization pathways.”
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