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Drax has agreed to a Memorandum of Understanding with C-Zero Markets about selling carbon dioxide removal credits from Drax’s first US BECCS facility.

Carbon Removal

  • C-Zero intends to buy 2,000 metric tonnes of carbon removals from Drax’s first US bioenergy with carbon capture and storage (BECCS) project for $300 per tonne. 
  • Drax will deliver 12 million metric tonnes of carbon dioxide removals (CDRs) annually using BECCS by 2030. 

Click the link here to read the full Drax communication regarding this exciting development.

 

C-Zero has reacted quickly to market opportunities for their clients in securing 2000 metric tonnes of carbon capture credits in a ground-breaking partnership with renewable energy giant Drax.

As well as being the biggest renewable power generator in the UK, Drax is home to the largest decarbonisation project in Europe. Its ground-breaking negative emissions technology, Bioenergy with Carbon Capture and Storage (BECCS), captures and permanently stores carbon dioxide from bioenergy generation.

Drax’s carbon removals technology uses sustainably sourced biomass and, when deployed, will permanently remove four million tonnes of CO2 outside the UK by 2030.

Integral Service

This C-Zero service is integral to their client’s net zero emissions targets, which require them to purchase carbon offset credits to compensate for the emissions they cannot cut themselves.

This initiative from C-Zero is ahead of the curve predicted by National Grid’s Net Zero Future Energy Scenarios (FES), which aims to deploy BECCS by 2028 and predicts rapid increases in capacity in the 2030s.

Prime for Carbon Capture

The UK is prime for Carbon Capture and Storage, with Drax planning two 600+ megawatt (MW) biomass units, upgraded with carbon capture technology by 2030.  They will deliver 40% of the negative emissions from BECCS, which the UK Climate Change Committee indicates will be needed in 2050 for the UK to reach net zero.

Furthermore, according to the British Geological Survey, there are 70 billion tonnes of potential CO2 storage space around the UK, making this partnership between Drax and C-Zero an essential service in the C-Zero portfolio.

Mike RidlerMike Ridler, Director of C-Zero Markets, commented on the partnership with Drax.

“It’s been a bit of time in the making, but I’m thrilled that the partnership with Drax will help solve the other half of the climate equation with carbon removal.

This will be a crucial development in the market for our clients and us; we are already receiving huge interest.

This market will evolve quickly, and being involved from the start is a game changer for us and, more importantly, our clients.

This will be a global market with the legislation in North America whilst closer to home, the UK “Track 1” Power-BECCS application has been submitted, and shortlisted projects will be announced shortly.”

The team from C-Zero will attend the Biogas Expo at the NEC on Stand A509 on March 29 / 30, where they will be available to discuss how Carbon Capture and Storage can impact your Net Zero aspirations.

 

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