© Shutterstock
You’ve read 1 of 1 of your free articles this month.
US biofuels firm Gevo has secured a three-year carbon dioxide removal (CDR) agreement with an unnamed enterprise software company from its North Dakota bioenergy with carbon capture and storage (BECCS) facility.
Environmental asset management platform Ceezer will procure and manage the five-figure volume CDR portfolio on behalf of the customer through to 2029.
It follows a recent CDR deal with an unnamed corporate buyer for Gevo to 10,000 tonnes of carbon dioxide (CO2) at its North Dakota site.
Gevo believes the multi-year deal further validates the current market demand for CDR removals through the BECCS pathway.
It claims the 65 million-gallon-per-year North Dakota ethanol production facility has removed and stored 700,000 tonnes of CO2 since BECCS operations launched under its former owner in June 2022.
The company believes its North Dakota project is among the first commercial-scale BECCS projects to deliver verified CDR credits to the US voluntary carbon market.
According to the US Energy Information Administration, as of January 2022, US fuel ethanol production capacity totalled 17.4 billion gallons per year across 192 reported producers, signifying an opportunity to scale up domestic BECCS operations.
Market research shows that, as of 2024, there were 94 reported BECCS facilities under development globally, with a projected CO2 capture capacity of around 37.5 million tonnes each year.
