Climeworks becomes first supplier of long-term, technology-based carbon removal to Microsoft, as the companies sign a 10-year offtake agreement
News | 13.07.2022
Key take-aways:
- Climeworks is excited to take its collaboration with Microsoft to the next level: following its selection as part of Microsoft’s carbon removal portfolio last year, the two companies have now closed a new 10-year carbon removal offtake agreement.
- Such long-term commitments are crucial to help scale the carbon removal industry as it provides planning security to both sides and accelerates mainstream adoption.
- Especially in the case of direct air capture (DAC), multi-year commitments strongly foster long-term financing efforts and thus not only support the scale-up of the technology, but of the whole ecosystem behind it.
Climeworks will remove 10'000 tons of CO₂ on behalf of Microsoft and becomes their first long-term, tech-based carbon removal supplier
In 2020, Microsoft announced its pioneering commitment to be carbon negative by 2030 and remove all of its historic CO2 emissions by 2050. One year later, Climeworks’ carbon dioxide removal was the only DAC solution selected by Microsoft for its first carbon removal portfolio, after successfully passing an extensive review process.
Today, Climeworks is proud to take its collaboration with Microsoft one step further by becoming its first long-term carbon removal supplier. The two companies signed a 10-year carbon removal offtake agreement, where Climeworks will permanently remove 10’000 tons of CO₂ emissions from the atmosphere on Microsoft’s behalf. This second and forward-looking commitment is one of the largest DAC agreements ever signed and proof of Microsoft’s conviction of both Climeworks’ technology and ability to scale.
