NYK and ENEOS Agree Supply of Marine Fuel with CDR Credits from DACCS

December 18, 2024

Nippon Yusen Kabushiki Kaisha (NYK) and ENEOS Corporation have signed an agreement regarding the sale and purchase of marine fuel with carbon dioxide removal credits (CDR credits) created through Direct Air Capture with Carbon Storage (DACCS).

The agreement states that ENEOS will procure CDR credits from 1PointFive’s STRATOS Direct Air Capture plant in Texas, the United States that is scheduled to commence operations in 2025.

1PointFive’s STRATOS Direct Air Capture plant (Credit: NYK)
1PointFive’s STRATOS Direct Air Capture plant (Credit: NYK)

These credits are generated by removing CO2 from the atmosphere and storing it underground. ENEOS will then sell these credits, along with the marine fuel it supplies, to NYK for five years starting in 2028.

DACCS is one of the negative emission technologies that achieves the removal of greenhouse gases (GHGs) that cannot be reduced by energy conservation or transition to next-generation fuels. This innovative technology contributes to achieving net zero emissions in the energy sector.

1PointFive is a Carbon Capture, Utilization and Sequestration (CCUS) company that is working to help curb global temperature rise to 1.5°C by 2050 through the deployment of decarbonization solutions, including Carbon Engineering's Direct Air Capture and AIR TO FUELS solutions alongside geologic sequestration hubs.

Direct Air Capture can help marine companies advance their emissions removal goals during the transition period until low-carbon fuels become widespread and address residual emissions of alternative fuels.

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