Amazon backs Texas DAC project with ten-year offtake
Online retailer prebooks credits to be generated by 1PointFive’s Stratos project in Ector County
E-commerce firm Amazon has agreed to buy 250,000t of carbon dioxide removal (CDR) credits from the Stratos direct air capture (DAC) project, which is being developed in Texas by Occidental subsidiary 1PointFive. The credits will be supplied over a period of ten years. Under the agreement with Amazon, the captured CO₂ underlying the CDR credits will be stored in saline reservoirs that are not associated with oil and gas production. “Amazon’s purchase and long-term contract represent a significant commitment to DAC as a vital CDR solution,” said Michael Avery, president and general manager of 1PointFive. “The addition of 1PointFive’s high-integrity, quantifiable CDR credits support Amazon’s pa

Also in this section
27 September 2023
Investment in African offsets and ambitions to create a trading hub demonstrate Mideast Gulf state’s commitment to growing markets
26 September 2023
Newly launched Taiwan Carbon Solution Exchange is expected to enable companies to trade in both domestic and international credits
22 September 2023
A flurry of interest in direct air capture signals a key role for the technology in the push for net zero
21 September 2023
Technology company says its latest technologies can achieve 30–50% cost reductions at the capture stage