NYK Makes Carbon Credits Deal Involving Direct Air Capture
NYK has signed a deal with ENEOS that will see it purchase marine fuel with CO2 removal credits created through direct air capture with carbon storage.
ENEOS will procure the credits from 1PointFive’s STRATOS Direct Air Capture plant in Texas which is scheduled to commence operations in 2025.
The 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.
ENEOS launched its carbon offset fuel in January 2024.