Nellie Announces Major Carbon Removal Offtake Agreement with Zurich Insurance Group.
We're proud to announce that Zurich Insurance has entered into a multi-year, multi-tonnage agreement with Nellie to receive verified carbon dioxide removal certificates from our UK sites.
It's transformative in several ways.
After three years of hard work developing and building our bioengineered CO2 removal systems, it's our first major agreement and more-than-demonstrates the potential for our pragmatic, climate-fixing technologies.
It also validates our vision to scale our systems; we'll be growing our pilot operations to full scale carbon dioxide removal deployment over the coming year and this will help deliver many of the societal and economic co-benefits that are baked into our business.
We have a unique system; we produce biomass (that removes CO2 from the atmosphere as it grows) and we turn it into biochar which is used in the UK agricultural sector. We're distinctive in that our operational system boundary allows us near total control over the removal and sequestration process. This sale shows that a smart approach to engineered carbon dioxide removal systems can be commercialised and deliver meaningful environmental impact at scale.
Our alignment with Zurich's climate ambitions couldn't be clearer; we're a decarboniser of last resort. Removing CO2 should only happen when an organisation has done all it can to prevent their emissions in the first place. And this is what's happening here.
Zurich's approach to reducing their emissions profile is exactly why Nellie was built; with regards to CO2 emissions, it's “stop what you can and remove the rest”.
It's this balanced approach that will, eventually, lead to fixing the climate and we're proud to be part of it.
We're incredibly grateful to Zurich's sustainability team for working with us to put this agreement together. The muddy shoes suffered during their site visit over the summer was hopefully worthwhile!
You can access the press release for the announcement here.
