Microsoft and Stockholm Exergi this morning announced a deal that would potentially see the Swedish firm provide 3.3 million tons worth of carbon removal over 10 years starting in 2028.
Why it matters: The companies claimed it "represents the world's largest permanent removals deal to date."
State of play: Removal certificates would be generated via Stockholm Exergi's planned bio-energy with carbon capture and storage plant in Sweden.
A Stockholm Exergi biomass-fed combined heat and power plant would have CO2 capture installed.
Meanwhile, the process is viewed as carbon-negative because biomass feedstocks absorb CO2 when grown.
Yes, but: Stockholm Exergi has not made a final investment decision.
The announcement notes they're seeking government aid and more removal buyers for the project.
