CDR Currents - Wednesday 21 February

Welcome to CDR Currents, your guide navigating the dynamic currents of Carbon Dioxide Removal (CDR) trends. Here to provide you with the most recent developments in the CDR environment.

Big Waves: The biggest stories creating waves in CDR this week.?

• Four key organizations in the market, Carbonfuture, Puro.earth, Pyreg and SYNCRAFT, have joined forces to establish a scalable digital CDR infrastructure dedicated to enhancing transparency throughout the entire CDR ecosystem.?
• The US Government plans to allocate $100 million towards durable CDR projects in order to advance and expand CDR technologies across various solution types.
• Ecospray and Captura are pioneering a groundbreaking project aimed at capturing CO2 from seawater, leveraging Ecospray’s advanced CO2 liquefaction technology.

Dive in to read what’s shaping the market this week:?

Policy + Market

• US DOE To Invest $100M In Advanced Carbon Removal Projects. [14.02.24]. The US Department of Energy has revealed a $100 million CDR initiative. This will support the growth and commercialization of CDR technologies.
• Isometric convenes working group on CDR in mining. [13.02.24]. Isometric has partnered with WSP and RMI to create a CDR in the mining working group. This working group will bring together actors in the mining industry, and in CDR, to explore opportunities for geochemical CDR in mining.
• Biofuelwatch UK threatens legal challenge to decision to allow carbon capture installation at Drax power plant. [12.02.24]. Biofuelwatch UK challenges Drax’s plans for BECCS technology installation at its Selby power plant. Biofuelwatch UK considers the granting of consent for the technology installation to be unlawful.

Projects

• Ecospray And Captura Partner On Breakthrough Seawater CO2 Removal Project. [09.02.24]. Ecospray and Captura have partnered to pilot a project to capture CO2 from seawater, using Ecospray’s CO2 liquefaction method.
• New Report From EA Confirms The Safety Of Planetary’s Ocean Carbon Removal Approach. [13.02.24]. Planetary’s Ocean Alkalinity Enhancement approach for its trial has been assessed for safety by the Environmental Agency, and found to be safe for use, Planetary reports.
• Verde Announces Partnership With WayCarbon To Monetize Carbon Credits. [13.02.24]. Verde AgriTech has partnered with WayCarbon, to support the monetisation of Verde’s fertiliser-based enhanced rock weathering potential.
• Deep Sky & Carbyon To Pilot Direct Air Capture In Canada. [14.02.24]. Carbyon and Deep Sky have partnered to install Carbyon’s DAC technology in Deep Sky’s Labs innovation facility.
• Alcom Carbon Markets Completes Pre-Series A Fund Raising. [10.02.24]. Alcom’s fundraising round was led by Capital Code, with funds helping to increase Alcom’s biochar projects as well as exploring other applications of biochar’s co-products.
• First Trade of Puro.earth Carbon Removal Certificates Matched on Xpansiv’s CBL Spot Exchange. [15.02.24]. Xpansiv’s CBL spot exchange saw Puro’s CORCs traded for the first time on the platform, between thyssenkrupp Materials Trading, and EcoUp Oyj.
• Microsoft And Neustark Ink New Carbon Removal Purchase Deal. [15.02.24]. Microsoft has partnered with Neustark to purchase 27,600 tonnes of CDR over 6 years, through mineralisation.

Tides of Interest

• Carbonfuture, Puro.earth, Pyreg & SYNCRAFT To Boost Transparency In CDR. [14.02.24]. A partnership between these four organizations aims to boost transparency across every part of the CDR system by creating a scalable digital CDR infrastructure. This uses real-time Internet of Things (IoT) data, with an MRV system, to allow suppliers to gain real-time information on projects whilst increasing confidence of investments in CDR. This movement towards increased transparency is positive and is indicative of a trend of a desire for higher transparency across the market.?

Stay tuned for more updates on the Currents in CDR. If you’re looking to learn more about CDR and how it fits into your carbon investment strategy, reach out to our team.