Drax Group and C-Zero Markets have finalized a deal for 2,000 metric tons of carbon dioxide removals, marking a significant step in the deployment of bioenergy with carbon capture and storage (BECCS) in the U.S. This contract, transitioning from a prior memorandum of understanding, underscores growing market demand for high-quality, verifiable carbon credits.
Laurie Fitzmaurice, Drax's President of Carbon Removals, notes, "Demand for credible carbon removals is climbing as compliance deadlines approach." This sentiment is echoed by Mike Ridler, CEO of C-Zero, who highlights the partnership's focus on advancing carbon removal technologies crucial for achieving decarbonization targets.
Drax's strategic expansion includes new BECCS projects aimed at removing over 6 million tons of CO2 annually, positioning the company as a leader in the global carbon removal market.
