1PointFive and Bain & Company Sign Carbon Removal Credit Agreement
1PointFive has entered into an agreement with Bain & Company to purchase 9,000 metric tons of carbon dioxide removal credits over three years from its STRATOS facility in Texas. This marks Bain's inaugural acquisition of direct air capture credits to mitigate operational emissions, as the firm aims to retire credits exceeding 100% of its annual emissions as part of its climate strategy. The deal underscores a growing trend towards engineered carbon removals in the voluntary carbon market.
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1PointFive has signed an agreement with Bain & Company for the purchase of 9,000 metric tons of carbon dioxide removal credits over three years, produced at its STRATOS facility in Texas. This marks Bain's first acquisition of direct air capture (DAC) credits to address operational emissions.
STRATOS is designed to capture up to 500,000 tons of CO2 annually and will store the captured carbon through geologic sequestration. Bain's commitment includes the retirement of carbon removal credits exceeding 100% of its annual emissions as part of its climate strategy.
Over the past five years, Bain has invested in 1.1 million tons of carbon removal credits across various technologies. The deal highlights a shift towards engineered removals in the voluntary carbon market.
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