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Last Updated on: 17th February 2025, 04:00 pm
As the urgency to address climate change grows, carbon dioxide removal (CDR) is a necessary complement to emission reductions. CDR methods, such as Biocarbon (biochar) and BECCs (bio energy carbon capture) remove carbon from the atmosphere and store it long-term. And to scale, the CDR industry needs long-term financial commitments. To address this, Altitude has launched Ascent 1, a 50,000-ton large-scale CDR financing fund.
This initiative aims to provide structured demand for high-quality CDR credits, supporting market development and ensuring price certainty for CDR suppliers scaling their operations while producing very attractive risk-adjusted returns for its investors.
Altitude: Ascent 1 leverages deep market insights, long-term procurement agreements, and a structured purchasing strategy to facilitate efficient capital deployment into a focussed portfolio of engineered CDR credits. By committing to large-scale purchases, Altitude contributes to the economic foundation of the CDR market and encourages the commercialization of durable carbon removal methods. Altitude from the get-go has announced partnerships with industry leaders Puro, BioFlux, Carbon Drawdown Initiative, and other certified partners.
Magnus Drewelies, CEO of Ceezer, highlighted:
“Purchasing facilities are an important component in scaling carbon removal. They provide necessary funding to project developers ahead of widespread demand while also securing volumes, stabilizing prices, and facilitating future access to credits.”
Sebastien Dewarrat, CEO of ClimeFi, added:
“Financial stability is crucial for scaling CDR. Initiatives like this can provide essential support to suppliers and ensure that high-quality removal solutions reach commercial viability.”
CDR Market Developments & The future
The carbon removal industry is still evolving with a long way to go towards its 10-15 billion tons of CDR per year, and market mechanisms must adapt to support its long-term viability. We know that gigaton-scale removal will be necessary by mid-century to meet climate targets. However, reaching that scale will require both technological advancements and consistent financial backing. Structured demand, such as through purchasing facilities like Altitude: Ascent 1, is one important approach to bridging the gap towards large-scale deployment.
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