Distributed carbon capture technology provider CarbonQuest, and Daroga Power have announced their first joint carbon-capture-as-a-service financing project in North America. Their goal is to serve customers across a variety of sectors ranging from food and beverage operations and commercial and industrial facilities to utility infrastructure. This project and future joint carbon capture-as-a-service projects will be owned and operated by C2Zero, a portfolio company of SER Capital Partners, in partnership with Daroga Power.

CarbonQuest and Daroga’s first financed project is at a beverage-industry plant in Washington state. The plant will enter into a multi-year agreement with Daroga to finance CarbonQuest’s distributed carbon capture system at no upfront cost for the design, installation, and operational maintenance. The agreement also guarantees a minimum amount of captured CO₂ for the plant each year. The amount of CO₂ captured, liquified, and sold for utilisation will be tracked by CarbonQuest’s Carbon Management Software (CMS) in real-time.

In a press statement issued on June 25, CarbonQuest said the first-of-its-kind financing agreement is a significant milestone for distributed carbon capture, “as it provides flexibility to emitters that cannot pay for upfront carbon emission controls, while securing a steady income stream from CO₂ utilisation.” CarbonQuest and Daroga Power are currently developing a robust pipeline of similarly financed projects.

Said CarbonQuest CEO Shane Johnson, “Customers in many sectors are under pressure to reduce emissions yet are concerned about paying for hardware-intensive projects with capital budgets. Carbon capture-as-a-service relieves that worry while providing stable and guaranteed emission reductions over a set timeframe.”

Read the full press statement here.

Also read Tammy Weber’s article from the Independent How carbon capture works and the debate about whether it’s a future climate solution.