BOSTON & LOS ANGELES--(BUSINESS WIRE)--Jun 21, 2023--
Boston Consulting Group (BCG), one of the world’s leading management consulting firms, and CarbonCapture Inc. (CarbonCapture), a leading direct air capture (DAC) company, announced today a partnership that covers both BCG’s purchase of CarbonCapture’s atmospheric carbon dioxide removal services as well as an intention to support CarbonCapture’s business strategy through BCG’s management consulting services.
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BCG and CarbonCapture Inc. announce 5-year purchase agreement for 40,000 tons of DAC carbon removal credits. (Graphic: Business Wire)
The 40,000-ton carbon removal agreement with CarbonCapture will span a five-year period, supporting BCG’s commitment to achieve net zero climate impact by 2030. This represents the second largest publicly announced global direct air capture (DAC) offtake deal by volume, and the largest in the professional services industry globally.
“Carbon dioxide removal is critical to achieve net zero emissions globally, and DAC is a very promising technology,” said David Webb, BCG’s chief sustainability officer. “Rapid innovation and scaling are needed to help reach its future potential. This requires early investment and long-term corporate commitments today. BCG is committed to this effort, and we are pleased to partner with CarbonCapture to make it happen.”
According to the Intergovernmental Panel on Climate Change (IPCC), limiting global warming to 1.5 degrees Celsius requires a rapid reduction in global emissions, combined with the cumulative removal of tens to hundreds of gigatons of carbon dioxide by 2100. Investment is needed now to grow the carbon removals market, and it is critical that companies provide early support to the DAC sector—and other high quality pioneering removal technologies—to help them scale and drive costs down in the long term.
CarbonCapture’s technology platform offers multiple benefits, including unique modular hardware that can be mass produced and an open architecture that enables the optimization of sorbents across different climates.
CarbonCapture is currently developing Project Bison, a large DAC facility in Wyoming that will include a phased rollout plan to capture and store five million tons of atmospheric carbon dioxide per year by 2030.
“We’re extremely pleased to be working closely with BCG. They’re not only providing exceptional thought leadership in the sustainability and carbon removal space,” said Adrian Corless, CarbonCapture’s CEO and CTO, “they’ve also stepped up and shown their commitment to the DAC industry by making a major purchase of carbon removal credits.”
About Boston Consulting Group
Boston Consulting Group partners with leaders in business and society to tackle their most important challenges and capture their greatest opportunities. BCG was the pioneer in business strategy when it was founded in 1963. Today, we work closely with clients to embrace a transformational approach aimed at benefiting all stakeholders—empowering organizations to grow, build sustainable competitive advantage, and drive positive societal impact.
Our diverse, global teams bring deep industry and functional expertise and a range of perspectives that question the status quo and spark change. BCG delivers solutions through leading-edge management consulting, technology and design, and corporate and digital ventures. We work in a uniquely collaborative model across the firm and throughout all levels of the client organization, fuelled by the goal of helping our clients thrive and enabling them to make the world a better place.
About CarbonCapture Inc.
CarbonCapture develops and deploys direct air capture (DAC) machines that can be connected in large arrays to remove massive amounts of CO 2 from the atmosphere. With a ground-breaking modular open systems architecture, the company’s technology platform allows for plug-and-play upgrades, mass production, unlimited scalability, and rapid technology iterations. CarbonCapture’s systems capture atmospheric CO 2 for either permanent removal or for utilization in low-carbon synthetic fuels, concrete, and other industrial products.
View source version on businesswire.com:https://www.businesswire.com/news/home/20230621338252/en/
BCG: Eric Gregoiregregoire.eric@bcg.comCarbonCapture:media@carboncapture.com
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA MASSACHUSETTS
INDUSTRY KEYWORD: HARDWARE ALTERNATIVE ENERGY GREEN TECHNOLOGY ENERGY SUSTAINABILITY MANUFACTURING TECHNOLOGY CONSULTING PROFESSIONAL SERVICES ENVIRONMENTAL POLICY ENVIRONMENT ENVIRONMENTAL ISSUES ENVIRONMENTAL HEALTH SCIENCE RESEARCH ENGINEERING
SOURCE: CarbonCapture Inc.
Copyright Business Wire 2023.
PUB: 06/21/2023 03:01 AM/DISC: 06/21/2023 03:00 AM
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