Innovators who are working on ways to pull carbon dioxide out of the atmosphere to fight climate change are having a tough time lately.
Their biggest supporter, Microsoft, recently began telling partners that it is pausing its carbon removal purchases. To get a sense of how big of a deal this is, look at the numbers: The tech company alone has purchased approximately 80% of the contracted cumulative volume of carbon removals to date. Its retrenchment is viewed as potentially a major blow to the sector.
However, there may be a bright spot for this industry, and it comes from an unexpected source: The U.S. Environmental Protection Agency quietly decided in March to grant a research permit under the Marine Protection, Research, and Sanctuaries Act to a Houston-based carbon removal startup.
