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Drax announces carbon removals deal with C-Zero

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By Drax Group plc

April 23, 2024

Carbon CapturePelletsBusiness

Drax Group on April 18 announced a carbon removals deal with C-Zero Markets, an environmental consultancy. Under the deal, C-Zero will purchase carbon dioxide removals credits from Drax representing 2,000 metric tons of permanently stored carbon.

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A bioenergy with carbon capture and storage (BECCS) project under development in Sweden by Stockholm Energi was awarded planning approval on March 28 by the country’s Land and Environmental Court.

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Strategic Biofuels has received a strategic investment commitment from Magnolia Sustainable Energy Partners, a newly formed Japanese-based investment consortium created by Sumitomo Corporation of Americas and JX Nippon Oil & Gas Exploration Corp.

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Technip Energies and LanzaTech Global Inc. were selected by the U.S. Department of Energy Office of Clean Energy Demonstrations to begin award negotiations for up to $200 million funding to support project SECURE.

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Drax Group on March 28 announced a new carbon removals deal with Karbon-X. Under the agreement, Karbon-X will purchase CDR credits from Drax representing 25,000 metric tons of permanently stored carbon at $350 per metric ton.

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Drax Group has announced an MOU with Viking CCS, the Humber-based CO2 transportation and storage network led by Harbour Energy, together with non-operated partner bp, to assess options to transport and store CO2 in the Humber region.

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The U.S. Department of Energy’s Office of Fossil Energy and Carbon Management in March issued a notice of intent (NOI) to launch a Voluntary Carbon Dioxide Removal Purchasing (CO2RP) Challenge.

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ABB has signed an agreement with Cap Clean Energy to collaborate on SAF production sites in Canada. As part of the MOU, ABB will explore how its automation, electrification and digital technology can optimize the biofuel facilities.

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Ethanol Producer Magazine announced this week the preliminary agenda for the 2024 International Fuel Ethanol Workshop & Expo (FEW) taking place June 10-12, 2024 at the Minneapolis Convention Center in Minneapolis, Minnesota.

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Drax Group plc released 2023 financial results on Feb. 29, reporting its pellet production segment achieved robust performance in a challenging market environment. The company also discussed progress on its BECCS projects in the U.S. and U.K.

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Drax has become the latest founder member of the University of Sheffield’s newly-launched Energy Innovation Centre. The new partnership will drive forward research into next-generation carbon capture technology, including innovations in BECCS.

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EE North America and Montauk Renewables Inc. have signed a long-term contract for the delivery of 140,000 tons/year of biogenic CO2 over a minimum 15-year term. Under the agreement, Montauk will capture, clean and liquify CO2 at select Texas facilities.

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Carbon Capture Magazine has announced the dates for the third annual National Carbon Capture Conference & Expo. The event will be held November 19-20, 2024, in Saint Paul, Minnesota, at the Saint Paul RiverCentre. The National Hydrogen Conference & Expo has been added to the conference as a co-located event. A call for abstracts is now open for both events through July 21st.

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New analysis by Baringa and commissioned by Drax Group finds that Drax’s proposals for bioenergy with carbon capture and storage (BECCS) could save the U.K. up to £15 billion in whole economy costs between 2030 and 2050.

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Drax Group has announced a new partnership with Molpus Woodlands Group. The agreement will provide Drax with an option to purchase sustainably sourced woody biomass to fuel its BECCS operations in the U.S. Southeast.

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Global renewable energy company Drax Group plc has announced that it plans to establish a new independent business unit that will focus on becoming the global leader in delivering large-scale and high-integrity carbon removals.

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Sumitomo Corp. Europe Ltd. (SCEU) and Inherit Carbon Solutions AS jointly announce that Sumitomo Corp. has made a strategic investment in Inherit, a pioneer in biomass-derived carbon dioxide removal (CDR).

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Ethanol Producer Magazine and BBI International announced that they are now accepting speaker presentation proposals for the 2024 International Fuel Ethanol Workshop & Expo. The event will be held June 10-12, 2024, in Minneapolis, Minnesota.

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Carbon Capture Magazine has announced that Tom Buis, CEO at American Carbon Alliance, will keynote the general session panel of the National Carbon Capture Conference & Expo. The event takes place Nov. 7-8 in Des Moines, Iowa.

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Drax on Nov. 8 announced it is partnering with Patch, a climate technology company that is building digital infrastructure for the carbon market. Patch’s software helps voluntary carbon market participants buy, sell, and manage credits.

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A new report by Development Economics finds that if the U.K. government accelerates and expands the development of CCS clusters across the country it could generate an extra £32 billion of gross value added for the economy from 2050 onward.

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Drax Group plc in early October announced that the U.K. government has signaled its intent to allow large-scale BECCS projects to be eligible to participate in an expansion of the Track-1 carbon clustering process.

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Aker Carbon Capture has been awarded a feasibility study to implement carbon capture at a biomass combined-heat-and-power (CHP) facility in Germany. The planned capture capacity will be 250,000 metric tons CO2 per year.

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The Minnesota Public Utilities Commission on Aug. 31 approved the scope of the Environmental Impact Statement for a portion of Summit Carbon Solutions’ proposed CO2 pipeline project that spans approximately 28 miles in two of the state’s counties.

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Rex American Resources Inc. on Aug. 30 announced sales were down during its fiscal second quarter, the three months ending July 31. During an earnings call, company officials discussed planned capacity expansion and CCS projects.

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Summit Carbon Solutions has secured 80 percent of voluntary easements for its pipeline route in North Dakota and continues to negotiate with additional landowners every day. At the same time, the company is responding to the decision of the North Dakota PUC.

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The North Dakota Public Service Commission on Aug. 4 denied a siting permit for Summit Carbon Solutions’ Midwest Carbon Express CO2 Pipeline Project. Summit plans to revisit its proposal and reapply for the permit.

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The American Coalition for Ethanol, Growth Energy, and the Renewable Fuels Association have joined the newly formed American Carbon Alliance. Their participation brings attention to the benefits that carbon capture technology will have on rural communities, the nation’s economy, and the ethanol industry.

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HYCO1 Inc. has entered into a carbon dioxide supply agreement with Kansas Ethanol for the planned construction of a biogenic carbon dioxide utilization facility that will initially proudce synthetic bas lubricating oils and low-carbon jet fuel.

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Aemetis Inc.'s carbon capture subsidiary has been awarded the first CO2 sequestration characterization well permit issued by the State of California. The well supports a project that aims to sequester CO2 produced at the proposed Riverbank facilitiy.

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