Parallel Carbon has signed a pre-purchase agreement to supply 1,200 metric tonnes of carbon dioxide removal (CDR) credits to Zurich Insurance Group.
The credits will be issued as Carbon Removal Certificates (CORCs) under the Puro Standard and generated through Parallel Carbon’s integrated direct air capture with geological storage and hydrogen (DAC+H2) production process.
Under the model, captured atmospheric carbon dioxide is permanently stored, while hydrogen produced through the same system is expected to be sold to a low-carbon ammonia producer. The CDR attributes associated with the process will be transferred to Zurich as CORCs.
Parallel Carbon said the integrated DAC+H2 pathway is designed to produce hydrogen with near-zero lifecycle emissions, aligning with regulatory definitions of renewable or green hydrogen in multiple jurisdictions. Regulatory thresholds typically require lifecycle emissions below around 3 kg CO₂e per kilogram of hydrogen.
The company said the platform could also support the future production of electro-sustainable aviation fuels (e-SAFs), combining carbon removal with longer-term industrial decarbonisation pathways.
Under the agreement, Zurich has secured forward access to 1,200 tonnes of CDR capacity, with options to purchase additional volumes. The structure is intended to provide demand certainty for project deployment.
Commenting on the agreement, Chris Minter, Head of Supply Chain Sustainability at Zurich said, “Parallel Carbon’s integrated approach offers a compelling combination of high-integrity carbon removal and a credible pathway toward improved cost performance over time. For buyers like Zurich, early engagement with technologies that demonstrate strong fundamentals and clear future cost trajectories is pivotal for securing a position in the promising and rapidly developing carbon-removal market.
This pre-purchase reflects our confidence in Parallel Carbon’s ability to scale responsibly and includes rights of first refusal that allow us to remain closely aligned as they expand capacity. We look forward to working with the team as they bring low-cost, high-quality CDR supply to market in the years ahead.”
Parallel Carbon said that most of its CDR credits through to 2030 have now been sold. The company added that using CDR pre-purchases to anchor revenues from carbon-negative hydrogen projects reduces development risk and supports competitive hydrogen supply.
Ryan Anderson, Chief Executive Officer of Parallel Carbon said, “Integrated systems that combine carbon removal and decarbonisation in parallel are structurally advantaged in today’s sustainable solutions landscape and evolving policy environment. By delivering durable CDR alongside clean molecule production, we are able to create stronger project economics and unlock more climate value from the same infrastructure.
This approach enables science-based, transparent carbon accounting while supporting real-economy decarbonisation. Demand is converging around solutions that pair durable removal with credible economics and measurable impact, and this agreement with Zurich reflects that shift.”
The agreement reflects growing emphasis among buyers on durability, quality and long-term relevance in carbon removal markets, as early demand is used to support the scale-up of emerging removal technologies and associated low-carbon infrastructure.
