Berkeley, CA, Nov. 29, 2023 (GLOBE NEWSWIRE) -- Respira, an impact-driven carbon finance business, has announced its intention to purchase up to 50,000 direct air capture (DAC) carbon credits from Capture6, a water-positive carbon removal company.
This will be Respira’s first investment in direct air capture technology and represents an expansion of its engineered carbon removals portfolio, following the signing of an MOU with BECCS (Bioenergy Carbon Capture & Storage) pioneer, Drax, as the business builds on its market leading nature-based portfolio.
Ana Haurie, CEO of Respira commented: “The voluntary carbon market is going to be vital if we are to tackle the climate crisis and we must use all of the tools at our disposal. This new agreement enhances our portfolio of nature-based projects that are reducing carbon emissions today, with an exciting new technological solution that will be an important part of removing carbon from the atmosphere into the future.”
This pre-purchase will support Capture6's groundbreaking project in the United Arab Emirates, where world leaders will meet later this month for COP28 in Dubai. Capture6’s technology integrates direct air capture while generating freshwater and has the potential to eliminate the disposal of excess brine into the fragile marine environment.
Capture6’s technology can deliver significant additional decarbonization associated with green industrial chemical production. The processes can operate at ambient temperature, without any need for thermal energy, so the process can run on 100% renewable energy. This enables Capture6’s technology to yield high net negativity for carbon removal and drives scalability and cost efficiency. Given these synergies between desalination, carbon removal, and decarbonization, the UAE represents a unique opportunity for Capture6 to demonstrate the full potential of its technology in delivering impactful climate solutions to the world.
The CEO of Capture6, Dr. Ethan Cohen-Cole, expressed his enthusiasm about this offtake agreement: "Our partnership with Respira marks a pivotal step in realizing our vision of scalable, sustainable solutions for carbon removal. Together, we are not only mitigating the impacts of climate change but also pioneering innovations that contribute to the long-term well-being of our planet."
United Arab Emirates could remove ~158 million tons of atmospheric CO2 by incorporating Capture6’s technology into its existing desalination facilities. Capture6's innovative process has the added advantage of increasing the freshwater production capacity of existing seawater desalination plants by up to 50%. This industry promises significant economic growth and the creation of tens of thousands of jobs in the country.
The pre-purchase of CDR credits by Respira shows 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. According to the Paris Agreement, 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.
About Respira
Respira International is an impact-driven carbon finance business. Respira operates with an innovative offtake and profit share model which reinvests back into project stakeholders. Respira’s high-quality carbon credits allow corporations and financial institutions to mitigate their environmental impact. Respira channels private capital into climate solutions ensuring long-term relationships with trusted carbon project developers that enable its clients to to build sustainable, climate-positive businesses and portfolios. Respira’s team combines deep and varied experience working in global financial markets with a robust understanding of carbon project development in leading international conservation organisations. For further information, please visit respira-international.com
About Capture6
Capture6 is a water-positive carbon removal company 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.
