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📣 This is huge news! The Danish government just announced a subsidy for 1.1Mt of durable carbon dioxide removal (hashtag#CDR) from three BioCCS companies: BioCirc, Bioman ApS, and Carbon Capture Scotland.
💶 This comes to $166,000,000 over the course of 7 years (2026-2032).
It will break down as follow:
➡ BioCirc CO2: 130,700t per year at $138/t
➡ Bioman: 25,000t per year at $160/t
➡ Carbon Capture Scotland: 4,650t per year at $370/t
🤝 This is the second biggest CDR deal in history (the other one being Microsoft’s 2.76Mt deal with Ørsted - also in Denmark). One of the biggest subsidies by a government of durable CDR.
🏛 UPDATE: I now have access to the contract. This is NOT direct public procurement, it is a subsidy (more similar to 45Q in the US). Companies are allowed to sell the credits on the VCM, as long as these credits do not go towards any other NDC but the Danish.
👏 Thank you CDR.fyi for bringing this to my attention. This deal also brings the total durable CDR purchases to above 7Mt! Encouraging to also see the relative low cost per tonne: at $150/t.
🔗 Official press release in English here: https://lnkd.in/dYzm4MWr
💪 Let’s build on this momentum and hopefully other governments will follow suit!
💬 What do you think? Where and what is next? When will be breaking the 10Mt durable CDR purchase barrier?
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