HomeCarbon CreditsCarbonCure and Invert Sign Largest Carbon Credit Agreement

CarbonCure and Invert Sign Largest Carbon Credit Agreement

CarbonCure and Invert signed the world’s biggest carbon credit purchase agreement for CO2 storage.

The current carbon credit purchase agreement will help speed up CarbonCure’s rapid scaling. It will also be a major step for the firm to reach its CO2 footprint target.

CarbonCure plans to create 500 million metric tons of annual CO₂ reduction and removal by 2030. That is roughly the same as removing 100 million cars from the road each year.

In effect, the carbon credit market may expect to see more activities on CO2 removal pathways. And the new credit purchase agreement formed by Invert, CarbonCure, and Ripple, is one of them.

The Biggest Carbon Credit Purchase Agreement to Date

The partnership worth $30 million is, so far, the biggest investment in permanent CO2 removal and storage.

CarbonCure and Invert are the majority stakeholders in the agreement. Ripple holds a minority investment stake.

The 10-year carbon credit deal centers on permanent CO2 storage through carbon mineralization. It will help increase investment in innovative carbon removal technology research and development.

Also, the agreement will contribute to massive reductions and removals of GHG from the air.

What does it mean for each party to the agreement?

For CarbonCure Technologies: Scale Up

CarbonCure Technologies is a carbon removal tech company. It offers solutions that allow concrete producers to use captured CO2 to make low-carbon mixes.

The firm’s technology injects captured carbon into fresh concrete, locking up the carbon so it doesn’t return to the air.

This process also lowers the amount of cement required in each mix. As such, the concrete producer’s carbon footprint decreases. This is critical as cement production accounts for about 7% of annual global emissions.

Hence, CarbonCure’s permanent carbon storage technology aids the concrete industry in cutting emissions.

The tech firm tracks and measures CO2 from the point of capture to mineralization. This method enables carbon credit buyers like Invert to track the precise date and location of CO2 they paid to store for good.

For Invert Inc: High-Quality Carbon Credit Purchase

Invert is a specialized emissions reduction and carbon offsetting firm. It invests in carbon offset projects that create high-quality reduction and removal credits.

In particular, it focuses on helping businesses to reduce their Scope 1, 2, and 3 emissions.

Part of that is investing in carbon reduction and removal credit purchases. Its carbon credit purchase agreement with CarbonCure and Ripple is one of them.

Invert’s Chairman, Mark Zekulin, said,

“We recognize that long-term removals are critical to achieving the world’s net-zero objectives…”

Hence, Invert commits to supporting developers and technologies in the carbon removal space. The firm believes that CarbonCure has the capacity to help them in this matter.

For Ripple: A lot of carbon credits

Ripple provides crypto and blockchain solutions to other businesses. It’s a minority funder to this largest carbon credit purchase agreement.

It invests in return for millions of carbon credits for permanent carbon storage.

All parties agree that concrete offers a global and immediate option for permanent storage of captured CO2.

This agreement suits the concrete industry’s pledge to reduce its emissions by 25% by 2030.

And on its way to net-zero by 2050, the industry plans to cut 36% of its emissions by using CO2 capture and storage technologies.

Most Popular
LATEST CARBON NEWS

Breakthrough in Low Cost Biofuels from Biomass

The U.S. Department of Energy Bioenergy Technologies Office (BETO) has achieved a major milestone in reducing the price of "drop-in" biofuels made from biomass. Drop-in...

Australia to Merge Compliance and Voluntary Carbon Markets?

Australia's climate policy advisory recently suggested the creation of a fully transparent national carbon market. This may open the doors to global carbon trade...

EKI Energy Shares Decline After India Bans Carbon Credit Export

The world’s largest carbon credit producer, EKI Energy, shares are down over 17% following India's decision to ban the export of carbon credits. India recently...

US Small Landowners Are Taking a Cut of the Carbon Markets

New opportunities in carbon markets are giving US small landowners alternatives to logging while mitigating climate change. According to the nonprofit American Forest Foundation, the largest...
CARBON INVESTOR EDUCATION

The Carbon Credit Lifecycle

Carbon credits, also called carbon offsets, have a crucial role in reaching net zero emissions goals. And while each carbon credit is not created...

Understanding The Carbon Cycle and How it Changes the Climate

Carbon is the foundation of all life on Earth. Humans are made of carbon. We eat carbon and almost everything is built on carbon. Carbon...

Climate Maps of Transformed United States (Under 5 Scenarios)

Rising temperatures are causing drastic effects on the planet’s living conditions while increasing sea levels continue to consume coastlines. Indeed, heat wave by heat wave,...

What Drives the Growth of The Carbon Offset Market? (3 Key Factors)

The demand for quality carbon offsets is at an all-time high due to the strong eagerness of businesses to act on climate change. This leads...