Amazon backs Texas DAC project with ten-year offtake
Online retailer prebooks credits to be generated by 1PointFive’s Stratos project in Ector County
E-commerce firm Amazon has agreed to buy 250,000t of carbon dioxide removal (CDR) credits from the Stratos direct air capture (DAC) project, which is being developed in Texas by Occidental subsidiary 1PointFive. The credits will be supplied over a period of ten years. Under the agreement with Amazon, the captured CO₂ underlying the CDR credits will be stored in saline reservoirs that are not associated with oil and gas production. “Amazon’s purchase and long-term contract represent a significant commitment to DAC as a vital CDR solution,” said Michael Avery, president and general manager of 1PointFive. “The addition of 1PointFive’s high-integrity, quantifiable CDR credits support Amazon’s pa
Also in this section
25 April 2024
Carbon capture rates forecast to rise steadily from end of decade, but policy tools to drive large-scale deployment have yet to take shape, according to DNV
23 April 2024
Europe must unlock cross-border CO₂ trade if it wants to build a viable CCS sector for the long term
16 April 2024
US and European oil majors snap up smaller players and look to accelerate development in a region deemed to possess all the key elements for successful CCUS deployment
15 April 2024
Demand for credits seen rising 20% this year despite issues around integrity and standardisation