Denmark Provides Largest Ever Government Subsidy For Carbon Removal

Apr 23, 2024

In an unprecedented move, Denmark has secured the largest government subsidy for durable carbon dioxide removal (CDR).

The subsidy worth a total of roughly $166 million (Dkr 1.1 billion) also marks the second-largest of its kind to date, following only the massive deal for the purchase of 2.76 million metric tons of CDR inked between Microsoft and carbon removal company Ørsted.

Denmark has agreed to buy a total of 1.1 million tons of durable carbon removal from three companies: BioCircBioman ApS, and Carbon Capture Scotland.

All three companies specialize in providing biogenic CDR solutions, and together they will deliver 160,350 tons of CO2 removals per year for a 7-year period between 2026 and 2032.

“This corresponds to the annual CO2 absorption from approximately 16,000 hectares of forest,” the official announcement from the Danish Energy Agency says.

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