Karbon-X Project Inc.
CALGARY, AB / ACCESSWIRE / March 28, 2024 / Drax Group, a pioneer in carbon removal and renewable energy, has formed a groundbreaking partnership with environmental leader Karbon-X (OTC PINK:KARX), marking a significant advancement in the deployment of Bioenergy with Carbon Capture and Storage (BECCS) technology in the United States. This collaboration underscores the escalating demand for premium carbon removal solutions.
Under this new agreement, Karbon-X will acquire Carbon Dioxide Removal (CDR) credits from Drax, corresponding to the permanent storage of 25,000 metric tons of carbon dioxide, priced at $350 per metric ton. The contract spans five years, commencing in 2030, and is tied to Drax's forthcoming BECCS initiatives within the United States.
Laurie Fitzmaurice, Drax's President of Carbon Removals, expressed enthusiasm about partnering with entities like Karbon-X that recognize the critical need for immediate investment in superior carbon removals. With the CDR market quickly evolving, there's an anticipated shortage of supply as entities worldwide near their carbon reduction milestones. "We're excited to work with organizations like Karbon-X that understand the importance of investing in high-quality carbon removals today. The CDR market, which is already maturing at a rapid pace, is expected to experience a supply crunch within the next decade as companies and countries approach their deadlines for carbon reduction targets." said Laurie Fitzmaurice, President, Carbon Removals at Drax.
This partnership is a continuation of Drax's commitment to leading in carbon removal efforts, following agreements with other significant players and the establishment of a dedicated business unit aimed at spearheading global carbon removals, targeting the extraction of at least 6 million tons of CO2 annually from the atmosphere.
BECCS technology, celebrated for its ability to produce renewable energy from sustainable biomass while capturing and permanently storing CO2, is becoming increasingly sought after for its verifiable impact, especially when compared to nature-based removal methods.
Fitzmaurice highlighted the significance of this deal with Karbon-X in propelling the implementation of BECCS in the U.S., catering to the soaring demand for decarbonization solutions. Karbon-X plans to resell the purchased credits in the voluntary carbon market, aiding companies, and individuals in achieving their emission reduction goals by choosing high-caliber projects like Drax's BECCS.
Chad Clovis, CEO of Karbon-X, praised the partnership with Drax as a monumental stride towards addressing climate change and fostering a sustainable future. "We are thrilled to be working alongside Drax in their pursuit of their carbon removals program. This partnership represents significant progress in our collective mission to combat climate change and build a more sustainable future." said Chad Clovis, CEO of Karbon-X.
As the global community increasingly turns to engineered carbon removal solutions to fulfill climate pledges, the distinct, quantifiable benefits of BECCS have positioned it as a cornerstone of high-integrity CDR efforts.
For more insights into Drax's role in supporting organizational sustainability ambitions through premier carbon removal services, please visit their website.
About Drax
Drax Group is committed to fostering a zero-carbon, cost-effective energy future. Announced in 2019, Drax's ambition to become carbon negative by 2030 leverages BECCS technology. The company's diverse team of 3,000 employees focuses on electricity generation, business electricity sales, and the production and supply of compressed wood pellets. Learn more at Drax's website, www.drax.com.
About Karbon-X
Karbon-X stands at the forefront of environmental action, offering a user-friendly platform for individuals to engage in meaningful carbon offset projects. Committed to transparency and convenience, Karbon-X supports initiatives that significantly reduce greenhouse gas emissions, empowering users to contribute to global climate change mitigation. Specializing in delivering offsets to consumers and businesses, Karbon-X is working to democratize access to carbon offsets globally. For more information, see www.karbon-x.com
Contact for Media Inquiries:
Drax Group
Alex Schott
VP, North America Communications
Email: alex.schott@drax.com
Phone: 318 - 372 - 4091
Karbon-X
Daniel Haigh
Head of Marketing
Email: dh@karbon-x.com
Phone: 587 - 577 - 3863
SOURCE: Karbon-X Project Inc.
View the original press release on accesswire.com
To view this piece of content from www.accesswire.com, please give your consent at the top of this page.
About ACCESS Newswire
Subscribe to releases from ACCESS Newswire
Subscribe to all the latest releases from ACCESS Newswire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from ACCESS Newswire
IXOPAY Surges Past 500 Certified Adapters, Solidifies Leadership in Enterprise-Grade Payment Orchestration15.7.2025 06:00:00 CEST | Press release
With 200 PSPs and 300 payment methods, IXOPAY is unlocking faster global expansion, improved approval rates, and full-stack control for enterprise merchants. LEHI, UT / ACCESS Newswire / July 15, 2025 / As global commerce accelerates, enterprise merchants are hitting a wall - their legacy payment stacks weren't built for the scale, complexity, or speed modern commerce demands. To stay competitive, merchants need infrastructure that adapts across markets, providers, and payment methods without costly rewrites or vendor lock-in. IXOPAY, a global leader in enterprise-grade payment orchestration, is addressing that challenge head-on with the announcement it has reached 500 certified adapters, connecting 200 payment service providers (PSPs) and 300 payment methods through a single, vendor-agnostic API. Payment orchestration is rapidly emerging as vital infrastructure for modern payments, and its effectiveness depends on the scale and breadth of the adapter ecosystem. IXOPAY's industry-leadi
Gun, Cocaine, and a High-Speed Chase: Luton Crime Haul Sparks Fresh Questions and Public Appeal11.7.2025 13:45:00 CEST | Press release
Officers discovered an estimated 25 kilograms of suspected Class A drugs, tightly packed and hidden in secret compartments. Alongside the drugs, they recovered a Beretta 92FS 9mm semi-automatic handgun, loaded with 38 rounds of ammunition. LUTON, GB / ACCESS Newswire / July 11, 2025 / A dramatic police pursuit through Luton on the night of June 29 resulted in the seizure of a loaded firearm and an estimated £600,000 worth of suspected cocaine. Nearly a week later, crucial questions remain unanswered, and police are still searching for individuals who fled the scene. The incident, which unfolded between 11:30 PM and 1:00 AM, began in Marsh Farm when Bedfordshire Police officers attempted to stop a vehicle as part of a proactive investigation into organised criminal activity. The driver failed to stop, sparking a high-speed chase that stretched through Dallow, Farley Hill, and eventually ended on Beechwood Road, where the vehicle was forcibly brought to a halt. Inside, officers discovere
The Battery Show Europe Showcases Global Acceleration10.7.2025 10:00:00 CEST | Press release
Europe's flagship event advancing the battery and EV industry from cell design to policy frameworks STUTTGART, GERMANY / ACCESS Newswire / July 10, 2025 / The Battery Show Europe and Electric & Hybrid Vehicle Technology Expo Europe, co-located with Energy Storage Summit Germany (ESG), welcomed over 17,000 industry professionals and more than 1,100 exhibitors to Messe Stuttgart. This combined event represents the only place where the entire advanced battery, electric & hybrid vehicle technology and energy storage supply chain can be accessed under one roof. From breakthrough technologies and policy insights to hands-on demos and global partnerships, the 2025 edition captured the rapid pace of industry evolution and the growing international significance. Keynote sessions across the three-day event featured high-profile speakers from across the battery, automotive and energy sectors, including BMW Group, Verkor, Mercedes-Benz, CATL and Shanghai Putailai New Energy Technology Co., Ltd. Th
Eagle Football Chairman John Textor Congratulates Olympique Lyonnais on Qualification for Ligue 1 and UEFA Europa League9.7.2025 18:55:00 CEST | Press release
PALM BEACH GARDENS, FL / ACCESS Newswire / July 9, 2025 / John Textor, Chairman and CEO of Eagle Football Holdings, today issued the following statement in response to the decision by the French Football Federation (FFF) to uphold Olympique Lyonnais's (OL) appeal, reversing the earlier decision of the DNCG, and confirming OL's participation in Ligue 1 and UEFA Europa League: John Textor, Chairman and majority owner of Eagle Football Holdings, stated: "I would like to congratulate our whole team at Olympique Lyonnais for demonstrating clearly what we have long known, that our great club in Lyon is financially strong and ready to continue its climb up the tables in France and in Europe. We previously cleared through a rigorous sustainability review by UEFA, and now, under the remarkable leadership of our Chair Michele Kang, OL has succeeded on appeal, in cooperation with the DNCG, to confirm our place in Ligue 1 and in Europa League." He continued, "Today's decision is a vital recognitio
Sandline Global Expands International Presence with New London Office9.7.2025 15:15:00 CEST | Press release
LONDON, GB / ACCESS Newswire / July 9, 2025 / Sandline Global, a leading provider of legal technology, eDiscovery, and litigation support services, is proud to announce the opening of its new office in London. This milestone marks a strategic expansion of Sandline's international footprint and reinforces the company's commitment to serving clients across the UK and broader EMEA region.Sandline Global Logo Sandline Global Logo The decision to establish a permanent presence in London was driven by significant and sustained demand for Sandline's services in the region. With a growing number of cross-border matters and increasing interest in Sandline's capabilities-including digital forensics, eDiscovery services, and managed review-the new location will enable the company to deliver tailored, more localized support to clients with complex legal and regulatory needs. "Our expansion into London reflects both the strength of our partnerships in the UK and our long-term vision for internation
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom