Stockholm Exergi Lands World’s Largest Permanent Carbon Removal Deal With Microsoft

Stockholm Exergi Lands World’s Largest Permanent Carbon Removal Deal With Microsoft

Swedish energy company Stockholm Exergi and Microsoft have announced a 10-year deal that will provide the tech giant with more than 3.3 million tons of carbon removal certificates through bioenergy with carbon capture and storage. While the value of the deal was not disclosed, it stands as the largest of its kind globally. Carbon Herald reports: Scheduled to commence in 2028 and span a decade, the agreement underscores a pivotal moment in combatting climate change. Anders Egelrud, CEO of Stockholm Exergi, lauded the deal as a “huge step” for the company and its BECCS project, emphasizing its profound implications for climate action. “I believe the agreement will inspire corporations with ambitious climate objectives, and we target to announce more deals with other pioneering companies over the coming months,” he said. Recognizing the imperative of permanent carbon removals in limiting global warming to 1.5C or below, the deal aligns with Microsoft’s ambitious goal of becoming carbon negative by 2030.

“Leveraging existing biomass power plants is a crucial first step to building worldwide carbon removal capacity,” Brian Marrs, Microsoft’s Senior Director of Energy & Carbon Removal, said, highlighting the importance of sustainable biomass sourcing for BECCS projects, as is the case with Stockholm Exergi. The partners will adhere to stringent quality standards, ensuring transparent reporting and adherence to sustainability criteria. The BECCS facility, once operational, will remove up to 800,000 tons of carbon dioxide (CO2) annually, contributing significantly to atmospheric carbon reduction. With environmental permits secured and construction set to commence in 2025, Stockholm Exergi plans to reach the final investment decision by the end of the year.

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