Carbon capture and removal project developers Return&nbsp; Carbon&nbsp;and Verified Carbon&nbsp;announced “Project Concho,” a pioneering Direct Air Capture (DAC)&nbsp; hub to be built in Tom Green County, Texas. Project Concho will be the first DAC hub in the world to run&nbsp; entirely on wind power and will leverage advanced DAC technology as well as onsite geological carbon&nbsp; storage to capture and permanently remove CO₂ from the atmosphere. In its first phase, the facility aims&nbsp; to remove 50,000 tons annually before 2030, with expansion plans to reach 500,000 tons per year, in turn&nbsp; creating premium, verified carbon credits that hold significant value in carbon markets.&nbsp;Project Concho will be powered by a new wind farm to be built and operated by Greenalia, a leading&nbsp; global renewable energy producer. The technology&nbsp; underpinning Project Concho will be provided by Skytree, an industry-leading carbon removal company&nbsp; born out of the European Space Agency with DAC units in deployment across Europe, Canada, and the&nbsp; United States.“Project Concho is a significant step forward in scaling up DAC,” said Martijn Verwoerd, Managing&nbsp; Director of Return Carbon. “This opportunity aligns perfectly with Return Carbon and Verified Carbon’s&nbsp; joint mission to mitigate climate change through the scalable commercialization of new technologies in&nbsp; impactful infrastructure projects. We're thrilled to make West Texas a home for this groundbreaking DAC&nbsp; hub and create new opportunities for the region.”&nbsp;&nbsp;Collaboration Sets Stage For Future Renewable Power-DAC Projects&nbsp;Project Concho is the result of an unprecedented collaboration between a wind energy provider and a&nbsp; DAC developer: the DAC hub guarantees a reliable offtake of wind energy in return for access to low-cost&nbsp; power, one of the challenges associated with large-scale DAC projects. Project Concho’s energy&nbsp; optimization will be enabled through its flexible use of power, leveraging the agreement of Greenalia and&nbsp; Concho partners to develop a unique Power Purchase Agreement (PPA) structure that allows for price&nbsp; stability and full energy deliverability. This symbiotic arrangement sets the stage for future joint renewable&nbsp; power-DAC projects that enable greater scale, lower risk, and reduced costs.&nbsp;“We are excited about the partnership with Project Concho and there is a vision and a framework for&nbsp; collaboration that our companies share,” said Alexandre Alonso, SVP of Business Development at&nbsp; Greenalia. “The flexibility offered by the DAC hub to optimize around energy price peaks is a game changer for renewable energy projects. It not only strengthens the business case for our wind farm under&nbsp; development in Texas but also contributes to adding innovative business models and alternatives for a&nbsp; greener energy landscape in the U.S.”&nbsp;&nbsp;State-of-the-art DAC Technology&nbsp;Project Concho will feature a connected array of Skytree Stratus DAC units. Skytree’s patented DAC&nbsp; technology continuously optimizes energy use and drives down energy consumption while ensuring&nbsp; optimal CO2 capture efficiency. In addition, its modular design and 24/7 uptime guarantee made it a&nbsp; logical choice for a large-scale project like Project Concho in which units will be added over time.&nbsp;“Project Concho is a first-of-its-kind collaboration that opens the door to even more ambitious and&nbsp; transformative carbon removal projects,” said Elena Nikonova, VP North America at Skytree. “Deploying&nbsp; DAC at scale is necessary to drive down costs across the value chain and achieve greater impact and we&nbsp; are thrilled to provide the technology needed to bring Project Concho to life.”&nbsp;&nbsp;Revenue and Environmental Benefits to Concho Valley&nbsp;Through carbon sequestration, local landowners can take advantage of passive revenue streams while promoting sustainable land use. “Project Concho brings significant benefits to the Concho Valley,&nbsp; providing new economic opportunities for landowners beyond traditional activities," said Coleman White,&nbsp; co-founder of Verified Carbon and Concho Valley landowner. “Projects like these allow us to maintain&nbsp; traditional land uses while benefiting from a new income source and supporting projects that sustain both&nbsp; our environment and the local economy.”

2024-11-26 - Verified Carbon and Return Carbon Announce First 100% Wind-Powered Direct Air Capture Hub (Carbon Capture Magazine)

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Carbon capture and removal project developers Return  Carbon and Verified Carbon announced “Project Concho,” a pioneering Direct Air Capture (DAC)  hub to be built in Tom Green County, Texas. 

Verified Carbon and Return Carbon Announce First 100% Wind-Powered Direct Air Capture Hub

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