CaptureCrete developer inaugurates carbon removal credit platform
Sources: Covalent, San Francisco; Carbon Limit, Boca Raton, Fla.; CMCM staff
Citing launch of the first forward crediting platform for carbon removal (CDR) projects that ensure at least 1,000 years of permanence, climate technology startup Covalent is poised to connect innovators and new financing sources, starting with CaptureCrete developer Carbon Limit. The company formulates its signature concrete additive to absorb atmospheric carbon dioxide then mineralize the gas—to precipitated calcium carbonate form—during mix production and throughout a hardened slab or structure’s service life.
Carbon Limit illustrates the dosing of CaptureCrete (left silo), delivered in supersacks, and portland or blended cement (right silo), delivered by bulk tanker, for a load of ready mixed concrete.
Carbon Limit served up the inaugural project by issuing 1 million forward carbon removal credits following Covalent’s platform announcement at Carbon Unbound Europe, an early-October summit in London. Credits are issued in metric tons of CO2 equivalent. Covalent views its unified crediting framework as a potential destination for proof-of-concept to large-scale carbon sequestration endeavors. “This gives us the tools to make a real impact in the fight against climate change,” says Co-Founder and CEO Onur Eren. “By connecting CDR projects with financing, we accelerate the scaling of the carbon removal industry.”
“Covalent is taking bold steps to help early-stage CDR businesses, including mine,” adds Carbon Limit CEO Tim Sperry. “We are literally paving the way for more widespread, effective carbon removal from one of the world’s most pervasive sources of CO2 with the help of Covalent and its forward crediting platform.”
In addition to the 1,000-year minimum permanence threshold, the Covalent Certification Standard limits carbon leakage to no more than 0.1 percent and enforces remediation should it be needed. The standard has been adopted by Bureau Veritas, a leader in independent testing, inspection and certification services with global and North American headquarters in Paris and New York. — www.carbonlimit.com; covalent.earth
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