The logo of Amazon is seen at the company logistics center in Lauwin-Planque, northern France, November 15, 2022. Amazon will purchase the credits from the 1PointFive direct air capture (DAC) plant in Texas, which is being developed by oil company Occidental’s Oxy Low Carbon Ventures subsidiary and will use them to help meet its climate target of net zero carbon emissions by 2040. The company did not reveal any financial details of the deal, but developers of DAC technology have said removal credits currently cost in the mid-to-high-triple digits in dollars per metric ton. Microsoft last week signed a multi-year deal for the purchase of 315,000 metric tons with U.S. project developer Heirloom. Jamey Mulligan, head of carbon neutralization science and strategy at Amazon said an “all hands on deck approach” was needed to scale up the technology.

---

Persons: Pascal, Jamey Mulligan, ”, Mulligan, Susanna Twidale, Sharon Singleton Organizations: REUTERS, Carbon Ventures, DAC, Microsoft, U.S, Amazon, U.S . Department of Energy, Thomson Locations: Lauwin, France, Texas, Paris, Occidental