Stockholm Exergi announced on Tuesday that they have entered into a contract with Microsoft. NASDAQ: MSFT ) encompassing 3.33 million tonnes of permanent carbon sequestration through bio-energy with carbon capture and storage (BECCS) at Värtan, Stockholm .
The agreement represents the world's largest permanent removal deal to date, the company said.
The deliveries of the carbon removal certificates to Microsoft ( NASDAQ: MSFT ) are planned to start in 2028 and continue for ten years.
Building on this announcement, Stockholm Exergi intends to seek complementary state aid and additional private carbon removal deals, both of which are necessary to reach financial close.
As per the Swedish government’s policy, the carbon removals traded in this pact will be utilized by Microsoft ( NASDAQ: MSFT ) to offset its own emissions and will be “ transparently reported as falling under” Sweden's Climate goals, much like how corporate emissions reductions support national climate objectives."
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