1PointFive says deal over 6 years (Il Sole 24 Ore Radiocor) - New York, 09 Jul - Carbon capture company 1PointFive said it had agreed to sell 500,000 metric tons of carbon dioxide removal (CDR) credits over six years to Microsoft to support the tech giant's carbon removal strategy.

The agreement is the largest single purchase of CDR credits enabled by Direct Air Capture (DAC) to date, the company said in a statement.

Microsoft has committed to becoming carbon negative by 2030.

"A commitment of this magnitude further demonstrates how one of the world's largest corporations is integrating scalable Direct Air Capture into its net zero strategy," said Michael Avery, President and General Manager of 1PointFive.

"Energy demand across the technology industry is increasing and we believe Direct Air Capture is uniquely suited to remove residual emissions and further climate goals.' 1PointFive is the carbon capture, utilization and sequestration unit of oil and gas firm Occidental Petroleum.

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(RADIOCOR) 09-07-24 15:14:02 (0417) 5 NNNN