Announced at the World Economic Forum’s Annual Meeting, Trafigura, a leading player in the global commodities industry, is reinforcing its climate strategy by purchasing carbon dioxide removal (CDR) credits from 1PointFive’s first industrial-scale Direct Air Capture (DAC) facility, STRATOS, currently under construction in Texas.
This transaction marks Trafigura’s inaugural step towards fulfilling its commitment as a Founding Member of the First Movers Coalition to acquire a minimum of 50,000 tons of durable and scalable net carbon dioxide removal credits from advanced CDR technologies by 2030.
The agreement aligns with Trafigura’s dedication to supporting early-stage technologies for high-quality carbon removal credits, establishing a partnership with 1PointFive to advance DAC as a practical, transparent, and durable carbon removal solution. This collaboration aims to facilitate the broader adoption of 1PointFive’s CDR credits, assisting hard-to-abate industries in addressing their emissions.
STRATOS, set to capture up to 500,000 metric tons of CO2 annually when fully operational, is expected to be the world’s largest facility of its kind. The captured CO2, forming the basis of Trafigura’s removal credits, will be stored through durable subsurface saline sequestration.
President and General Manager of 1PointFive, Michael Avery, expressed enthusiasm for the collaboration, emphasizing its contribution to global emissions reduction. Hannah Hauman, Global Head of Carbon Trading for Trafigura, highlighted their commitment to advancing carbon sequestration technologies and supporting large-scale removal projects to meet the demands of today and scale production for the future.
