Carbon Direct conducts deep diligence for Microsoft’s offtake deal with Stockholm Exergi

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Curated portfolios

Solution

Curated portfolios

Industry

BECCS

Location

Sweden

In May of 2024, Microsoft signed a memorandum of understanding for up to 3.3 million tonnes of carbon dioxide removal with Stockholm Exergi, a Swedish energy utility developing a large bioenergy with carbon capture and storage (BECCS) project. The agreement represents the world’s largest permanent carbon dioxide removal deal to date and a milestone for climate change mitigation.

The Stockholm Exergi BECCS project involves adding carbon capture and storage (CCS) to an existing bioenergy facility that will yield 800,000 tonnes of permanent carbon dioxide removal per year. Stockholm Exergi plans to begin the construction of the CCS components in 2025, and begin delivering carbon dioxide removal credits to Microsoft in 2028.

"The agreement with Microsoft is a huge step forward for our BECCS project, Stockholm Exergi as a company, and the climate. It was made possible by collaboration with Carbon Direct and its deep technical diligence, bringing us one step closer to a final investment decision in Q4 2024."
Anders Egelrud
CEO, Stockholm Exergi

Carbon Direct conducts deep diligence for Microsoft’s offtake deal with Stockholm Exergi

Carbon Direct conducts deep diligence for Microsoft’s offtake deal with Stockholm Exergi

Carbon Direct conducts deep diligence for Microsoft’s offtake deal with Stockholm Exergi

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