Zephyr to buy permanent carbon removals from Carbon Centric
- Four-year purchase agreement between Zephyr and Carbon Centric for carbon removal certificates.
- Zephyr requires 10 tCO2/yr to neutralize Scope 1 residual emissions, applied retroactively and going forward.
- Carbon Centric operates a full-scale CO2 capture facility in Rakkestad (CCU) and is developing its first CCS project for permanent CO2 storage.
- Certificates from the CCS project have already been purchased by Climeworks, KLP and DNV.
Agreement overview
Zephyr and Carbon Centric signed a four-year agreement for purchase of carbon removal certificates (CDR) to address the company's estimated Scope 1 emissions both retroactively and going forward.
Emissions target
Zephyr has calculated a need for 10 tCO2 per year of permanent removal to neutralize direct residual emissions after reductions and avoidance measures.
Carbon Centric projects
Carbon Centric operates a full-scale CO2 capture facility in Rakkestad that supplies CO2 for commercial CCU uses and is developing its first CCS facility for permanent CO2 storage; certificates from that CCS project have already been bought by Climeworks, KLP and DNV.
Market context
The carbon removal certificate market is currently dominated by large international buyers, but this deal illustrates how smaller players can create demand and help scale permanent removal capacity, noting that CCS projects require time and trust to develop.
Source: Carbon Centric