ESG Today
Summary
Microsoft and Swedish energy company Stockholm Exergi announced today a significant expansion of their agreement to permanently remove carbon through a planned bio-energy with carbon capture and storage (BECCS) project, growing the deal to more than 5 million tonnes over ten years, from the previously announced 3.33 million tonnes.
The facility aims to bring together the bioenergy-based combined heat and power plant fueled by residues from forestry, sawmill and pulp and paper production, with a carbon capture and storage process that captures CO2 in the plant’s flue gases, and cools and compresses it into liquid form, for transport and permanent storage in sedimentary bedrock below the North Sea floor, where the liquid CO2 mineralizes over time.
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