The city of Stockholm has made a major carbon dioxide removal (CDR) purchase from Stockholm Exergi, investing in 750,000 tons to be delivered under a multi-year contract.
As part of the agreement, Stockholm Exergi will deliver 50,000 tons of CDR per year over a period of fifteen years. The removal will come from the company’s new BECCS facility, which is currently being developed near Värtaverket in the Stockholm energy port.
Once fully operational, this facility will be able to capture 800,000 tons of carbon dioxide each year, a volume that surpasses the fossil emissions from Stockholm’s road traffic for an entire year.
The CO2 captured at the facility will be transported by ship to Bergen in Norway, where it will be permanently stored deep beneath the seabed.
Valued at SEK 13 billion (~$1.3 billion), the ambitious facility is expected to be operational by 2028. When it comes completely online, it will represent one of the world’s largest sites for removing carbon dioxide from the atmosphere.
This CDR purchase aligns with the city of Stockholm’s sustainability goals, which include becoming climate positive by 2030 and fossil-free by 2040 at the latest. With this CDR investment, the city has also become the world’s fifth largest buyer of negative emissions.
“Through the purchase, Stockholm takes a global leadership role among climate-ambitious cities and becomes the fifth largest buyer in the world of permanent negative emissions”, says Stockholm Mayor Karin Wanngård.
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“It is an important signal in times when the green transition needs to accelerate to counteract the climate crisis,” she adds.
On behalf of Stockholm Exergi, CEO Anders Egelrud stated, “The City of Stockholm has long been at the forefront of the climate transition. They are now continuing to show the way for how municipalities, companies and others should act by combining strong emission reductions with the purchase of permanent negative emissions. At the same time, they are becoming part of building a new industry and creating a market for negative emissions”
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