Carbon Removal News - December 11
Salesforce purchases CDR; Denmark Greensands Future and UK's Teesside reach FID; Decarbonising cement & steel industries
In this newletter
Corporate News - Salesforce x Milkywire, Google x Intersect Power
CCS projects - Denmark’s Greensands Future, UK’s Teesside
Decarbonizing industries - Vattenfall x Cemvision, Nuada x Carbfix
We’re changing how the Carbon Removal newsletter is consolidated and delivered. Expect the next one on Monday, December 16. The Climate Finance newsletter will continue.
Corporate Announcements
Stockholm-based Milkywire has secured a $5 million commitment from Salesforce to pre-purchase durable carbon removal (CDR) credits through its Climate Transformation Fund. The platform has already purchased from 27 suppliers across 15 countries covering nine distinct carbon removal methods, with backing from companies like Klarna, Spotify and ING Bank. Salesforce's commitment is part of its larger $100 million pledge to purchase durable carbon removal by 2030 as a founding member of the First Movers Coalition.
US-based Intersect Power has formed a strategic partnership with Google and TPG Rise Climate to provide scaled renewable power and storage solutions to new data centers, supported by a new $800 million funding round led by TPG and Google. The partnership aims to deliver gigawatts of new data center capacity across the US with Intersect Power targeting $20 billion in renewable power infrastructure investment by 2030. The first co-located clean energy project is expected to be operational in 2026-2027.
Carbon Capture & Storage
Denmark-based INEOS and its partners Harbour Energy and Nordsøfonden have made a Final Investment Decision (FID) to develop 'Greensand Future', the EU's first full-scale CO₂ storage facility in the Danish North Sea. The project, requiring investments of more than $150 million, aims to store 400,000 tons of CO₂ annually starting from late 2025/early 2026, with potential to scale up to 8 million tons per year by 2030.
UK-based Equinor and partners have taken Final Investment Decision (FID) to execute two of UK's first carbon capture and storage projects - the Northern Endurance Partnership (NEP) and Net Zero Teesside Power (NZT Power). The projects, valued at around £4 billion, include a CO2 gathering network, 145km offshore pipeline, and a gas-fired power plant with carbon capture capacity of 2 million tonnes CO2 per year. Operations are expected to start from 2028.
Decarbonizing Industries
In June 2024, Swedish energy major Vattenfall and Cemvision entered into an agreement to develop and supply near-zero emission cement that can reduce carbon dioxide emissions by up to 95% compared to traditional cement. Now, the partners aim to create a market for this innovative cement, with Vattenfall committing to purchase at least 10% of near fossil-free cement by 2030 under its First Movers Coalition (FMC) commitment. Cemvision will develop the cement using recycled residual materials from mining and steel industries with fossil-free energy powered kilns.
Carbon capture companies Nuada and Carbfix have signed a memorandum of understanding (MOU) to deliver integrated carbon capture and storage solutions for reducing emissions in cement, lime, steel, waste-to-energy, and bio-energy sectors. The partnership combines Nuada's carbon capture technology using solid sorbents, MOFs, and vacuum pressure swing adsorption (VPSA) with Carbfix's COâ‚‚ mineralization method that permanently transforms captured COâ‚‚ into stone within two years through injection into basaltic rock.
Consolidated by Soumya Gupta (Twitter, LinkedIn).
