Parallel Carbon Secures CDR Agreement with Zurich Insurance Group Using DAC+H2 Technology
Parallel Carbon has signed a pre-purchase deal with Zurich Insurance Group to deliver 1,200 metric tons of carbon dioxide removal (CDR) credits using its direct air capture (DAC) and green hydrogen technology. The CDR credits will be issued as CORCs under the Puro Standard, while the CO2-negative hydrogen produced will be sold to a low-CO2 ammonia producer. This agreement highlights Parallel Carbon's commitment to sustainable solutions and marks a significant milestone as the company has mostly sold its carbon removal credits through 2030.
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UK-based Parallel Carbon will deliver 1,200 metric tons of carbon dioxide removal (CDR) credits to Zurich Insurance Group under a pre-purchase agreement. These credits, issued as CORCs under the Puro Standard, will be generated through Parallel Carbon's DAC+H2 technology, which integrates direct air capture with geological carbon storage to produce CO2-negative hydrogen.
This hydrogen meets local renewable standards and has near-zero carbon intensity. The green hydrogen generated will be sold to a low-CO2 ammonia producer. Parallel Carbon has reported that most of its carbon removal credits supply through 2030 is already sold, marking a significant milestone for the company.
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