Cleaner Tech
Microsoft Inks Deal to Pay for CO2 Stored Below the Sea
- Microsoft backs Danish project to capture and store CO2
- Orsted will trap CO2 at two plants and send it to Norway
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Microsoft Corp. is buying credits for CO2 captured at two Danish power plants and then stored beneath the North Sea in a sign that corporate emission-reduction goals can help spur carbon storage technology.
The tech giant’s deal with Orsted A/S helped the utility in its bid to secure backing from the Danish government to trap CO2 from the biomass-fired power stations. It’s a key step for the scaling up of a technology that will be crucial for Europe to reach its goal of net zero emissions by 2050.