News Summary

Vancouver-based CO280 has entered a significant 12-year agreement with Microsoft to remove carbon dioxide emissions from an American paper mill, marking a pivotal step in carbon capture technology. This partnership aims to sell nearly 3.7 million tonnes of CO2 removal credits to Microsoft. The project will retrofit paper mill boiler stacks with equipment to capture biogenic emissions, storing the CO2 in geological formations. This strategy aligns with Microsoft’s goal to be carbon negative by 2030 and to remove its lifetime CO2 output by 2050. The agreement stands as one of the largest engineered CO2 removal purchases to date, with potential scalability across the pulp and paper industry. CO280, along with technology partner SLB Capturi, plans to enhance carbon removal systems in North America, with prospective projects in Alberta. This initiative is seen as a catalyst for similar deals, promoting investment in carbon removal technologies.