Japan-based global shipping business Mitsui OSK Lines (MOL) has signed a deal to purchase 30,000 carbon removal credits from direct ocean capture (DOC) technology developed by carbon removal specialist Captura, based in California.
MOL and Captura have also signed a Memorandum of Understanding to accelerate Captura’s DOC plant developments. As part of this, MOL has invested in Captura to support its technologies and technology development.
DOC applies innovations in electrochemistry with the ocean as a resource. The process extracts a measurable stream of CO2 from seawater, in the process creating further capacity for the ocean to absorb more CO2 from the atmosphere.
CO2 is 150 times more concentrated volumetrically in the ocean compared with air. This provides a scalable and efficient way to remove atmospheric CO2, according to Captura.
The signed off-take agreement follows the start-up of Captura’s third DOC pilot plant in Hawaii, which is on course to capture 1,000 tonnes of CO2 annually.
The company has also started to design its first commercial-scale site, applying learnings from its three pilots to date. This is expected to capture 30,000 to 50,000 tonnes of CO2 a year when it goes live.
Steve Oldham, CEO of Captura, said all the pilots have validated the readiness of the company’s technology for large-scale deployment.
The company is now seeking offtake agreements for the commercial plant it is starting to develop.
