Google invests in direct-air capture technology to combat climate change. The tech giant partners with Holocene to support their innovative carbon removal solution, aiming to capture and store 100,000 tons of carbon dioxide by the early 2030s.
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| Google has made a significant investment in Holocene, a direct-air capture startup, to support its efforts in removing carbon dioxide from the atmosphere. This partnership aims to accelerate the development of DAC technology and contribute to the fight against climate change. Symbolic image |
Santa Clara, California, USA - September 11, 2024:
In a significant move towards environmental sustainability, Google has announced a partnership with Holocene, a direct-air capture (DAC) startup. The tech giant will invest $10 million to support Holocene's innovative technology, which aims to remove carbon dioxide directly from the atmosphere.
Under the terms of the agreement, Google will purchase carbon removal credits from Holocene at a rate of $100 per metric ton. This price aligns with the US Department of Energy's goal for DAC technology to become a viable solution to climate change.
DAC works by filtering carbon dioxide from the air and storing it underground. While the concept seems promising, the technology has faced challenges due to its high costs and scalability limitations. Google's investment, however, is a vote of confidence in Holocene's ability to overcome these hurdles.
The partnership is expected to enable Holocene to capture and store 100,000 tons of carbon dioxide from the atmosphere by the early 2030s. This significant reduction in emissions will contribute to Google's broader sustainability goals.
Sustainability has become a crucial consideration for many large tech companies, and Google has made substantial efforts to reduce its environmental impact. The company has invested heavily in carbon offsets, claiming to have eliminated its entire "carbon legacy." However, its greenhouse gas emissions have increased by nearly 50% in recent years due to the growing demands of AI and data center operations.
Google's partnership with Holocene represents a strategic move to address its carbon footprint and support emerging technologies that could play a vital role in combating climate change. The investment is not only a financial commitment but also a signal of Google's belief in the potential of DAC to make a meaningful contribution to a more sustainable future.
As the world grapples with the urgent threat of climate change, innovative solutions like DAC are becoming increasingly important. Google's decision to support Holocene's work could inspire other companies to follow suit and invest in emerging technologies that have the potential to mitigate the effects of global warming.