DNV and Carbon Centric have entered into a four-year agreement for the purchase of carbon removal credits. The agreement will help realise a new carbon capture plant that will capture approximately 30,000 tonnes of CO₂ annually.
Carbon Centric develops, builds and operates carbon capture plants, and will now construct a new plant at an energy recovery plant in Kirkenaer, south-east Norway. By purchasing 10,000 carbon capture credits per year, DNV acts as a catalyst for the project and will, during the first four years, account for one third of the facility’s total capacity.
“The agreement with Carbon Centric is in line with DNV’s goal of compensating for its own carbon footprint and promoting verifiable climate action. CCS will be crucial to getting closer to the climate targets. DNV already contributes technical advisory services and verification to some of the world’s largest carbon capture projects. Now DNV is becoming an increasingly significant purchaser of credits. This is a market that needs support to scale. By entering projects like this at an early stage, we actively contribute to accelerating the development of a new industry and new solutions for carbon removal,” says Ulrike Haugen, Chief Communications, Public Affairs & Sustainability Officer of DNV.
“Developing carbon-negative projects is demanding and requires partners that are willing to lead the way and support projects at an early stage. We are therefore very pleased that DNV believes in us and is purchasing credits from us now. This agreement demonstrates how long-term purchase agreements can help realise new projects for permanent carbon removal, reduce risk and accelerate the development of a market for carbon removal,” says Kenneth Juul, Chief Commercial Officer and Co-founder of Carbon Centric.
