Navigator CO2, Puro.earth partner to generate CO2 removal credits
May 26, 2023
BY Navigator CO2 Ventures LLC
Navigator CO2, a leading carbon capture, utilization, and storage (CCUS) company, today announced the signing of an agreement with Puro.earth, the world's leading carbon crediting platform, for engineered carbon removal, to validate and certify Navigator's carbon dioxide removal (CDR) credits. For Navigator, this strategic partnership builds upon the momentum created by their recent groundbreaking announcement and serves as a testament to Navigator's comprehensive growth strategy within the industry.
The framework pairs Puro's Geologically Stored Carbon Methodology endorsed by the International Carbon Reduction and Offset Alliance (ICROA), with Navigator's Heartland Greenway CCUS system, providing the first megaton scale access to stakeholders across the Carbon Dioxide Removal (CDR) spectrum. This collaboration marks a foundational launch for the Voluntary Carbon Market (VCM), enabling unprecedented scalability and impact.
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Heartland Greenway, one of the largest in-development CCUS projects in North America, will have the capacity to permanently sequester up to 15 million metric tons of biogenic carbon dioxide (CO2) per year once fully operational, a volume equivalent to the annual emissions of over 3 million cars.
"We are thrilled to announce this key partnership with Puro.earth, shortly following last week's landmark announcement, as it demonstrates the diversity and steady progress of the Heartland Greenway platform," stated Matt Vining, CEO of Navigator. "This will help Navigator and its customers bring high-quality CDR credits to the global VCM at an unprecedented scale. The Puro Standard, based on superior methodologies, third-party verification, and transparency, ensures that carbon credits issued through the platform meet the highest standards, empowering our customers to achieve their sustainability goals successfully."
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Through Puro.earth's Standard, Navigator's activities will be certified as carbon net-negative, and the capacity of the Heartland Greenway project to remove CO2 from the atmosphere will be independently verified through a comprehensive lifecycle assessment. The Puro Standard is the first crediting program focused on durable carbon removal with a storage time of 100+-plus years to obtain endorsement by the ICROA. In addition, Puro's issued CO2 Removal Certificates (CORCs) are recorded in the Puro Registry, ensuring traceability, transparency, and the avoidance of double counting, thereby enabling corporate buyers to confidently address their sustainability goals.
Antti Vihavainen, CEO of Puro Earth, expressed excitement about the partnership, stating, "The scale of the Heartland Greenway project is very significant to the whole carbon removal market as it raises the supply by an order of magnitude. These large-scale projects deliver efficiency gains across the value chain that will enable more companies to use carbon removal credits as part of their net zero goals. By applying scientific rigor to measuring, reporting and verification of the CDR credits, we can unlock the full potential of carbon capture and removal technologies and help create a more sustainable future.
The Heartland Greenway project represents a significant advancement in scaling CDR and positions Navigator and its partners as key suppliers of net-negative emissions to the VCM by 2025. The partnership between Puro and Navigator ensures access to the highest quality engineered removals, with rigorous verification, permanence, and associated co-benefits. In addition, this collaboration addresses the fundamental undersupply in the marketplace for high-quality CDR products. Navigator is actively negotiating offtake frameworks for its initial credit vintage with interested counterparties ahead of the project's construction, with plans to deliver CDR at a multi-megaton scale on an ongoing basis as early as 2026.
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