Carbfix and Removr sign HoT for Direct Air Capture and Storage

carbfix_removr
Carbfix has signed Heads of Terms with Removr, a Norwegian company that removes CO2 directly from the atmosphere. According to the agreement, Carbfix will employ its technology to permanently store, via subsurface mineralization, 100,000 tons of CO2 annually from Removr’s first large-scale Direct Air Capture plant, which is expected to start operations in Iceland in 2027.

Removr plans to first launch a 2,000 ton commercial plant in Iceland in 2025. This will provide further key learnings towards improving energy efficiency and reducing footprint at a larger scale, which is critical to bring down costs. Options are being considered for locations of the plants.

The 100,000 tonnes plant will provide carbon removal services to corporate customers seeking to remove carbon from the air to meet net-zero commitments and compensate for historical emissions.

“The world is falling further behind the path to net-zero, and industrialising DACCS is set to play a major role in turning this trend. Therefore, we are delighted to partner with Carbfix which will allow us to move forward rapidly with our stepwise scaling approach,” says Einar Tyssen, CEO of Removr.

Removr’s technology is on its fourth pilot, with a 50 ton per year carbon capture prototype currently operated by technology partner GreenCap Solutions of Norway. In February 2023, Removr announced its first industrial pilot. Financed through Norway’s first-ever grant to DACCS, the pilot will have the capacity to capture 300 tonnes of CO2 per year and commence operations in 2024 at the world-leading carbon capture Technology Centre Mongstad. The pilot will also test the technology’s applicability for low-concentration CO2 point source capture.

Carbfix, the world’s first CO2 mineral storage operator, has developed a solution that turns CO2 into stone via underground mineralization in less than two years, with an operational track record stretching back to 2012. Enabled by high reactivity of porous basaltic formations, Carbfix’s mineralization method accelerates natural processes and provides a safe and durable storage solution with lower cost than many alternatives.

“Combining Removr’s Direct Air Capture concept with Carbfix’s leading storage solution marks a new tangible step towards industrialising DACCS. We look forward to further developing our partnership with Removr,” says Edda Aradóttir, CEO of Carbfix.

In its efforts to achieve cost leadership, Removr has established an ecosystem of world-leading partners which, in addition to Carbfix and ON Power, include SINTEF, Metier, Citec and DNV. In Q4 2022, DNV published a technical due diligence report verifying the company’s scale-up plan and large-scale concept. Removr is currently in commercial discussions regarding Head of Terms on the way to a power purchasing agreement with Iceland’s ON Power in order to secure the renewable electricity required to sustainably run its plants.

“Limiting global warming to 1.5 degrees requires permanent and immediate carbon removal measures. These measures cannot be successful without a well-functioning value chain for DACCS, which Removr plays a key role in shaping,” says Tyssen.

Carbon Capture Editorial Team
Carbon Capture Editorial Team
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