Drax Announces Carbon Removals Deal with Karbon-X

Carbon removals and renewable energy company Drax Group today announced a new carbon removals deal with Karbon-X, a leading environmental company. The agreement is the latest indicator of growing demand for high-quality carbon removals from bioenergy with carbon capture and storage (BECCS).

Karbon-X will purchase carbon dioxide removals (CDR) credits from Drax representing 25,000 metric tons of permanently stored carbon at $350 per tonne under the terms of the agreement. The deal, which will occur over a five-year period starting in 2030, is linked to Drax’s planned deployment of carbon negative BECCS in the United States.

The agreement with Karbon-X is the latest in a string of previously announced carbon removals memorandums of understanding that have included Respira and C-Zero. Drax also launched a new independent business unit earlier this year that is focused on becoming the global leader in large-scale carbon removals. This business unit will oversee the development and construction of Drax’s new-build BECCS plants in the US and internationally, and it will work with a coalition of strategic partners to focus on an ambitious goal of removing at least 6 Mt of CO2 per year from the atmosphere.

Courtesy of Drax.

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