We are enthusiastic about this collaboration with Climeworks. “There is growing awareness of the need to build capacity to remove CO 2 from the atmosphere to achieve net zero by 2050. The business is one of the lynchpins in the Norwegian government’s efforts to capture and store carbon emissions safely underground under a plan called The Longship Project. Northern Lights was incorporated in March as a joint venture between Equinor, Shell and Total to provide processing, transportation and underground sequestration services for captured carbon dioxide emissions. It would mean the realization of a full-chain carbon dioxide removal service that the two companies called a necessary component of the efforts to reverse global climate change. The deal could pave the way for a new business that would offer carbon capture and sequestration services to commercial enterprises around the world, if the joint venture between Climeworks and the newly formed Northern Lights company is successful.
The Swiss-based, venture capital-backed, direct air capture technology developer Climeworks is partnering with a joint venture between the government of Norway and massive European energy companies to map the pathway for a business that could provide not only the direct capture of carbon dioxide emissions from air, but the underground sequestration and storage of those emissions.
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