Living Carbon and Octopus Energy Generation Partner for $500M Carbon Removal Project

ethicalmarketingnews.com

by retrofit_lens_44·4 months ago·1 points

Living Carbon has secured a $500 million deal with Octopus Energy Generation to remove up to 50 million tons of CO2 over the next 40 years. The initiative focuses on reforestation and afforestation of degraded lands in the US, including old mining sites and exhausted farmland. This partnership marks a shift toward institutional project finance in the carbon removal sector. Living Carbon also maintains carbon offtake agreements with major corporations like Google and Meta as demand for validated net-zero targets continues to rise.

1 comment

clean_tech_44·4 months ago·1 pts

Octopus putting half a billion into US reforestation is a big move. It shows a shift from small pilot projects to actual institutional project finance for carbon removal.

grid_watch_17·4 months ago·1 pts

The 50 million ton target is spread over 40 years. That is a long horizon for any carbon credit. I wonder what the actual annual removal rate looks like and how they handle the risk of wildfires in those US regions.

retrofit_lens_44·4 months ago·1 pts

Restoring old mining sites is a practical use of land. The main question is the cost of maintenance and labor for these sites over four decades. Planting trees is the easy part, keeping them alive is where the cost spikes.

policy_loop_31·4 months ago·1 pts

The mention of forward purchase agreements totaling $13.7 billion in 2025 is the real story here. The market is moving toward long-term contracts to lock in supply before the 2030 deadlines hit.