Mitsui O.S.K. Lines Backs Direct Air Capture of Carbon to Meet Net Zero Goals

Representatives from Mitsui O.S.K. Lines visit the Carbon Engineering Innovation Centre in Squamish, British Columbia. Image Credit: Carbon Engineering

Japanese shipping company Mitsui O.S.K. Lines is backing the direct air capture (DAC) of carbon to help meet its net zero emissions goal.

The firm is one of seven founding members in the newly formed NextGen CDR Facility that intends to purchase over one million carbon dioxide removals (CDRs) by 2025.

The first contracts total almost 200,000 tonnes of carbon removal from the atmosphere via three separate projects including STRATOS, the world's largest Direct Air Capture and Storage (DACS) project.

STRATOS is currently under construction in Texas, USA, and scheduled to begin operations in 2025.

With interest in carbon capture growing steadily throughout the marine shipping industry, Mitsui O.S.K. Lines is notable as being the first shipping company to back STRATOS and its DAC technology.

Earlier this month a contingent from Mitsui O.S.K. Lines also visited Carbon Engineering Innovation Centre in Squamish, British Columbia, Canada, which is the permanent R&D platform for the DAC technology that will be used in the STRATOS facility.

"We are delighted to be making solid progress on our climate journey by purchasing Carbon Dioxide Removals (CDRs) and supporting pioneering carbon removal technologies," said Takeshi Hashimoto, President & CEO of Mitsui O.S.K. Lines, Ltd.

"To achieve our net-zero emissions by 2050, reducing our emissions in accordance with the science-based abatement curve is a must and our priority; however, it is no longer enough.

"We will support climate actions beyond our value chain by purchasing CDRs and add to our chances of keeping 1.5 ℃ within our reach. In this way, we will contribute to sustainable growth for people, society, and the planet, for all life in the next generation."

NextGen is a joint venture between South Pole and Mitsubishi Corporation, and Mitsui O.S.K. Lines is joined as one of the founding buyers alongside Boston Consulting Group, LGT, Swiss Re, and UBS.

In addition to STRATOS, NextGen will also purchase CDRs from the Summit Carbon Solutions' $5.1bn biomass carbon removal and storage (BiCRS) project being implemented in the Midwestern region of the United States, and also purchase carbon removal credits from climate tech company Carbo Culture's inaugural high technology biochar project (C1) in Finland.

The growing industry awareness of needing both reductions and removals to reach net zero was highlighted in a recent interview with Anna Stukas, Carbon Engineering's VP of Business Development.