The pre-purchase supports the deployment of the world’s first fully integrated water management and CO₂ removal facility of its kind.
BERKELEY, CA – July 20, 2023 – Capture6, a carbon removal startup, announces its first pre-purchase offtake agreement of CDR credits to remove emissions generated by a Direct Air Capture (DAC) event in South Korea. Asia’s first carbon-neutral event where a DAC CDR credit purchase offset its emissions was hosted today in Seoul by Sopoong Ventures and Kakao Impact Foundation, who jointly purchased CDR credits from Capture6’s Project Monarch.
With temperatures soaring around the world this summer, the urgency of taking climate action has never been more imminent. Pre-purchases of CDR credits by corporate buyers show clear support for Capture’s goal to decarbonize industries while at the same time reducing emissions and increasing freshwater supplies. Global temperatures have already risen 1.2°C from pre-industrial levels due to burning fossil fuels. We need to keep global warming under 1.5°C to avert the most catastrophic impacts of climate change. Reaching that target is no longer possible by reducing emissions alone, a fact highlighted in the latest IPCC report. Permanent and irreversible carbon removal must be deployed at unprecedented speed and scale.
The event hosts, Kakao Impact, a Foundation arm of the largest tech group Kakao in South Korea, and Sopoong Ventures, the country’s first impact fund and an investor in Capture6, measured CO₂ emissions generated by the DAC event and agreed to fully offset them by buying Capture6’s first ever issued CDR credits from their demonstration facility in California. This pre-purchase will support the deployment of Capture6’s Project Monarch as part of the Pure Water Antelope Valley (PWAV) Demonstration Facility, the first fully integrated water management and CO₂ removal facility of its kind.
Capture6’s approach is unique in providing a highly scalable, energy and water-positive method of carbon capture, removal and storage. Its DAC process integrates with water treatment technologies and provides a circular economy integration whereby water treatment facilities’ salty water (brine) is used to produce solvent to capture atmospheric carbon dioxide. Capture6’s technology supports community and environmental benefits by delivering additional freshwater and removing CO₂.
The event was focused on discussing DAC project development opportunities in South Korea and globally and was organized in partnership with The Presidential Commission on Carbon Neutrality and Green Growth, Coalition for Our Common Future, and EY Korea. It was attended by the Korean Government as well as key institutional and private sector representatives. Leo Park, VP of Strategic Development at Capture6, presented about the company and the global DAC landscape at the event. “We are thrilled to have participated in this unique event that brought together businesses, government, and industries to discuss the exciting future of direct air capture in South Korea and beyond,” said Dr Park. “Capture6 is honored to have provided CDR credits that could have made this event carbon-neutral”, he added.
Capture6 is a direct air capture start-up based in California and New Zealand leveraging its technology to support climate resilience and industrial decarbonization. The company develops and commercializes highly scalable approaches to remove carbon dioxide from the atmosphere. Capture6 is pioneering an approach that can be deployed today by repurposing existing industrial-scale technologies. Additionally, when coupled with desalination facilities, Capture6 can recover over 50% of freshwater from desalination waste brine for drinking and industrial purposes in the process of removing CO₂. This creates a meaningful synergy between carbon removal and water security. Learn more at capture6.org.
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