1PointFive entered agreement with Microsoft to sell CDR credits

1PointFive (OXY) announced it has entered into an agreement with Microsoft (MSFT) to sell 500,000 metric tons of carbon dioxide removal, CDR, credits over six years to support Microsoft’s carbon removal strategy. The agreement is the largest single purchase of CDR credits enabled by Direct Air Capture to date and highlights the increasing adoption of this climate technology as a solution to help organizations achieve net-zero emissions. The CDR credits for Microsoft will be enabled by STRATOS, 1PointFive’s first industrial-scale DAC facility currently under construction in Texas. Under the terms of the agreement with Microsoft, which has committed to becoming carbon negative by 2030, the captured carbon dioxide underlying the credits will be securely stored through subsurface saline sequestration and will not be used to produce oil and gas. Direct Air Capture provides a transparent and durable way to address emissions on a large scale, particularly from hard-to-abate industries.