Direct air capture (DAC) expert Climeworks is joining forces with financial services company Square, Inc (Square) to remove 2,000 tonnes of carbon dioxide (CO2) from the air using its patented DAC technology.
Following the culmination of international energy summit COP26 in November, it was apparent that CO2 capture technologies can play a key role in helping meet net zero targets as set out by the Paris Agreement.
Seeking to contribute, Square has signed a nine-year carbon removal agreement with Climeworks, which will see 2,000 tonnes of CO2 permanently removed from the air using DAC technology.
Earlier this year Climeworks launched its Iceland-based Orca plant, a facility capable of capturing 4,000 tonnes of CO2 per year.
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