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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.