The Carbon Removers, a Scotland-based company dedicated to engineered carbon removals, has signed a groundbreaking deal with INEOS to permanently sequester 50,000 tonnes of CO2 in a depleted oil field located 1,800 metres below the North Sea seabed. This deal marks a significant step in the EU’s efforts to mitigate climate change through its first operational CO2 storage facility, Greensand Future.
Greensand Future, operated by INEOS, aims to capture and permanently store 400,000 tons of CO2 annually from the end of 2025, with a potential to store up to 8,000,000 tons per year. “We believe the North Sea has a huge role to play in helping Europe achieve its Net Zero target,” says Richard Nimmons, CEO of The Carbon Removers. “We’re delighted to be the first UK company to partner with Greensand Future operators, who share our ethos of finding practical ways to address emissions today, not in the distant future.”
The deal with INEOS will allow The Carbon Removers to scale up its offering of high-quality, permanent carbon removal credits, providing real and practical solutions to decarbonization targets and accelerating the transition to Net Zero. This announcement comes on the heels of a visit from the first minister of Scotland, John Swinney, who praised The Carbon Removers for their efforts in delivering permanent carbon solutions.
The Carbon Removers, founded by brothers Ed and Richard Nimmons, has been gaining momentum in recent weeks, with a multi-year carbon credit offtake agreement signed with British Airways in October, a visit from the first minister of Scotland on December 9th, and now, a breakthrough contract for North Sea storage.
Greensand Future, expected to begin operations in late 2025 or early 2026, will become the EU’s first operational CO2 storage facility. The project, which is a collaboration between INEOS, Harbour Energy, and Nordsøfonden, will capture and liquify CO2 at Danish biomethane production plants, transport it to the port of Esbjerg, and then ship it to the Nini field in the Danish North Sea for safe and permanent storage.
The European Commission estimates that the EU will need to establish a carbon storage capacity of 250 million tonnes of CO2 per year by 2040 to achieve the objectives of the Paris Agreement. The results of Project Greensand have been verified by DNV, a world-leading provider of risk, verification, and standardization services. This thorough technical verification ensures that the stored CO2 will remain safely and permanently in the closed Nini West reservoir 1,800 metres below the North Sea seabed, as expected.
For more information on The Carbon Removers, visit their website at www.thecarbonremovers.com. More information on Greensand Future can be found on their website at https://pressat.co.uk/.
