The world's largest diversified portfolio of permanent carbon removal

NextGen – a South Pole/Mitsubishi Corporation joint venture – is establishing the largest diversified portfolio of permanent carbon dioxide removal to expand the market. NextGen CDR Facility (NextGen) announces first carbon dioxide removal (CDR) purchase contracts, demonstrating support for expanding market for carbon removal and permanent long-term storage through 2030 Pre-purchase of nearly 200,000 tonnes of CDR from three projects, including world's largest of Direct Air Capture and Storage (DACS) and the world's largest technological carbon removal project, demonstrates tangible corporate interest in various CDR technologies that offer long-term CO2 removal. NextGen plans to purchase more than one million CDRs by 2025, all of which must be certified to independent standards approved by ICROA to ensure the quality of carbon projects. NextGen, a joint venture between South Pole and Mitsubishi Corporation, includes industry leaders Boston Consulting Group, LGT, Mitsui OSK Lines, UBS and Swiss Re as founding buyers. Zurich, 26 April 2023 – NextGen CDR Facility (NextGen) – a joint venture between global climate project developer and solutions provider South Pole and Japanese conglomerate Mitsubishi Corporation – backed by founding buyers Boston Consulting Group, LGT, Mitsui OSK Lines, Switzerland Re and UBS – announced a pre-purchase of 193,125 tons of CDR from the carbon removal projects they will represent the largest diversified CDR portfolio in the world, which will offer more than 1000 years of CO2 storage once delivered. (Anna Peel, ValueWalk)