1PointFive, a carbon capture, utilisation and sequestration (CCUS) company, said Bain & Company has agreed to purchase 9,000 metric tonnes of carbon dioxide removal (CDR) credits over three years, generated using Direct Air Capture (DAC) technology.
The agreement marks Bain’s first purchase of DAC-based removal credits and is intended to address residual operational emissions as part of its net-negative commitment. According to the companies, the volume of carbon removed is broadly equivalent to the emissions from around 10,000 long-haul economy-class return flights.
The CDR credits will be produced at STRATOS, 1PointFive’s large-scale DAC facility in Texas, which is currently progressing through start-up activities. 1PointFive is a subsidiary of Occidental, and said the captured carbon dioxide will be permanently stored through geological sequestration.
“Collaborating with Bain & Company reflects our shared commitment to innovation and the importance of accelerating the adoption of Direct Air Capture technology,” said Anthony Cottone, President and General Manager of 1PointFive. “We believe this agreement demonstrates continued momentum for the solution while supporting the development of vital domestic infrastructure.”
Bain said the purchase adds DAC to its existing portfolio of carbon dioxide removal approaches. The firm said it has invested in around 1.1 million tonnes of high-integrity carbon removal credits over the past five years.
Sam Israelit, Chief Sustainability Officer at Bain, said: “We are proud to partner with 1PointFive and add them to our portfolio of engineered carbon removal technologies. Their track record for developing DAC technology, coupled with their experience in delivering large-scale infrastructure projects, positions them to play a significant role in this emerging segment.”
