1PointFive and Bain Sign agreement for Direct Air Capture Carbon Removal Credits

13 Jan 1PointFive and Bain Sign agreement for Direct Air Capture Carbon Removal Credits

(Oilandgaspress) 1PointFive announced today that Bain & Company purchased 9,000 metric tons of carbon dioxide removal (CDR) credits over three years enabled by Direct Air Capture (DAC). The agreement is Bain’s first purchase of DAC removal credits as a solution to address residual operational emissions and meet its current net negative commitment. For context, 9,000 tons of removed CO2 is equivalent to the emissions resulting from an estimated 10,000 long-haul roundtrip flights for an economy-class passenger.

The CDR credits will be produced from STRATOS, 1PointFive’s large-scale DAC facility in Texas that is progressing through start-up activities. As a subsidiary of Occidental, 1PointFive is leveraging more than 50 years of carbon management expertise and major projects experience to deliver commercial-scale DAC. The captured carbon dioxide underlying the CDR credits will be stored through durable geologic sequestration.

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