For Stockholm Exergi's BECCS facility to become a reality, full financing must be secured. An important step was taken in November 2021 when the project was selected as one of seven European initiatives by the EU Commission to share €1.1 billion from the EU Innovation Fund, with the Grant Agreement signed on April 1, 2022.
In addition, the Swedish Parliament has decided that Sweden will allocate state aid to promote the production of negative emissions. In addition, funds are needed from the voluntary market, i.e. companies that aim to become “Net-zero”.
Against that background, Stockholm Exergi wishes to invite companies to acquire negative emissions that they could use to reach their climate objectives by neutralizing their residual emissions and/or compensate other emissions, within a framework of emission reductions in line with limiting global warming to 1.5 °C.
In practice, a company would buy carbon removal certificates (CRC) corresponding to 1 tonne of negative emissions per CRC, with no other company being able to claim the same tonne in its climate accounting. In terms of accounting, the negative emissions would be accounted outside the sum of Scopes 1 to 3 as neutralization of residual emissions or as compensation of other emissions in the company’s value chain.