Drax has launched Elimini, a new US-based business with an ambition to be a leader in carbon removals.
The company is dedicated to permanently removing carbon from the atmosphere while generating renewable, 24/7 power.
By advancing bioenergy with carbon capture and storage (BECCS) in the United
States and beyond, the new company expects to help meet demand for both 24/7 renewable energy and high-integrity carbon removals.
More than 20 potential BECCS sites are under review in North America, with additional projects under consideration in six more countries.
It has also entered into 11 carbon dioxide removal deals with eight companies, two fibre option agreements, the establishment of an esteemed Advisory Council, and the creation of four knowledge collaborations to advance research and understanding in carbon dioxide removal technologies.
Nearly all realistic pathways to limit global warming to 1.5C and 2C require developing and deploying carbon removal technology at gigaton scale and tripling renewable energy capacity, said Drax.
Elimini’s purpose is to remove carbon for good. To achieve this, it is convening engineers, environmentalists, communities, investors, and innovators to scale the market for carbon removals, with the aspiration of transforming economies from carbon emitters to carbon removers.
As an independently operated, wholly owned subsidiary within Drax Group,
Elimini will also sell carbon removals generated at Drax Power Station, which conducted the first BECCS pilot of its kind in Europe and with the right government support will convert that facility to BECCS.
Will Gardiner, Elimini executive chair and Drax Group CEO said: “Carbon removals are desperately needed to reverse the legacy emissions warming our planet – and that industry represents more than a $1 trillion opportunity once it reaches gigaton scale. Elimini will have the focus and agility needed to become a leader in the maturing carbon market, rapidly advancing high-quality carbon removals and renewable energy production at global scale.”
Click here to see more...