1PointFive Signs an Agreement to Sell 500,000 Metric Tons of Carbon Credits to Microsoft

1PointFive has signed an agreement to supply Microsoft with 500,000 metric tons of carbon credits for the next six years. 

Takeaway Points

• 1PointFive signs an agreement to sell 500,000 metric tons of carbon credits to Microsoft.
• The goal is to aid Microsoft’s carbon removal strategy to become carbon-negative by 2030.
• On March 13, 2024, 1PointFive said that AT&T has agreed to purchase carbon dioxide removal (CDR) credits from STRATOS.

What agreement did 1PointFive sign with Microsoft?

The carbon capture company 1PointFive,  announced on Tuesday that it has entered into an agreement with Microsoft to sell 500,000 metric tons of carbon dioxide removal (CDR) credits over six years. The goal is to aid Microsoft’s carbon removal strategy to become carbon-negative by 2030.

According to the report, this agreement is the largest single purchase of CDR credits this company has enabled to date. 

1PointFive said that the CDR credits for Microsoft will be enabled by STRATOS, its first industrial-scale DAC facility currently under construction in Texas.

Michael Avery, President and General Manager of 1PointFive, said that they are happy to have entered into this agreement with the tech giant.

“We are excited about this landmark agreement for Direct Air Capture, which is a result of Microsoft’s leadership in carbon removal and focus on building a more sustainable future. A commitment of this magnitude further demonstrates how one of the world’s largest corporations is integrating scalable Direct Air Capture into its net zero strategy. Energy demand across the technology industry is increasing and we believe Direct Air Capture is uniquely suited to remove residual emissions and further climate goals,” Michael said.

Brian Marrs, Senior Director for Carbon Removal and Energy at Microsoft, said in a comment that this deal with 1PointFive will help their goal of becoming carbon negative by 2030.

“We’re very pleased to announce this deal with 1PointFive, a pioneer in the Direct Air Capture space, which is building the largest DAC project worldwide. To achieve the gigatons of removals needed this century, first-of-a-kind projects like STRATOS are essential to move from pilots to scale. DAC plays an important role in Microsoft’s carbon removal portfolio supporting our broader goal of becoming carbon negative by 2030,” said Brian.

 1PointFive and AT&T Carbon Removal Agreement

On March 13, 2024, 1PointFive said that AT&T has agreed to purchase carbon dioxide removal (CDR) credits from STRATOS, 1PointFive’s first large-scale Direct Air Capture (DAC) facility that is currently under construction in Texas. This agreement aims to support AT&T’s commitment to reduce carbon emissions and become carbon neutral in its global operations by 2035.

Michael Avery, President and General Manager of 1PointFive, said, “AT&T’s carbon removal credit purchase is another proof point of the vital role that Direct Air Capture can play in providing a high-integrity and durable solution to help organizations address their emissions. We look forward to working with AT&T to help them achieve their climate goals while furthering our collaboration through the CCI.”

Shannon Carroll, AVP of Global Environmental Sustainability at AT&T, commented, “As we work towards achieving our Gigaton goal, we know that we need to find ways that AT&T connectivity can enable game-changing solutions to reduce greenhouse gas emissions at scale. Together with 1PointFive, we’re committed to driving adoption of high-impact, innovative technologies like DAC to help address climate change.”

About 1PointFive

1PointFive is a Carbon Capture, Utilization, and Sequestration (CCUS) company that is working to help curb global temperature rise to 1.5°C by 2050 through the deployment of decarbonization solutions, including Carbon Engineering’s Direct Air Capture and AIR TO FUELS™ solutions alongside geologic sequestration hubs.