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nextgen the future of carbon removal today skip to content buyers partners about us technologies criteria faqs latest news menu buyers partners about us technologies criteria faqs latest news contact us nextgen the future of carbon removal today the nextgen cdr facility nextgen is powered by south pole and mitsubishi corporation with backing from founding buyers boston consulting group lgt mitsui o s k lines swiss re and ubs read more contact us participating buyers strategic partners portfolio projects who we are nextgen a collaboration drawing on the expertise of south pole and mitsubishi corporation is the first truly global facility of its kind bringing together leading multi national buyers from across asia europe and north america to promote the market for high quality certified carbon removals cdrs from technological projects nextgen s unique combination of deep market expertise international networks and strong financial backing help companies to unlock the financing needed to scale carbon removal solutions our purpose nextgen s goal is to build a market for credible scalable carbon removal by supporting projects that remove atmospheric co 2 emissions at scale nextgen s commitment to exclusively purchase carbon removals certified under icroa standards ensures the transparency and credibility of each cdr while providing standardization to address reputational and delivery concerns that can be associated with innovative technologies or emerging methodologies nextgen has been specifically designed for corporate buyers committed to net zero targets making permanent high quality cdrs accessible at a target price of 200 t all cdrs purchased through nextgen will be retired by buyers in a public registry ensuring that co2 removed from the atmosphere are not reused to compensate for new emissions what makes nextgen unique accessibility a target price of 200 t across a diversified portfolio of cdrs at a price that aligns with corporate needs while providing the risk management to ensure supply can be delivered to meet net zero requirements credibility all cdrs must be independently certified and verified under icroa endorsed standards to ensure they can be retired while providing transparency and ensuring rigorous validation of negative emissions scalability projects supplying cdrs must be operating at scale by 2025 with plans to remove millions of tonnes by 2030 to ensure nextgen is generating an immediate and sizable impact in addressing the climate challenge a diverse global portfolio of carbon removal technologies nextgen purchases cdrs from projects using a range of technological approaches that offer significant potential to scale biomass carbon removal and storage bicrs how it works co2 sourced from sustainable biomass and biogenic waste is captured and durably stored direct air capture and storage dacs how it works co2 is removed directly from the atmosphere where it can be stored in geological reservoirs or long lived products such as cement enhanced weathering how it works co2 dissolved in rainwater reacts with finely ground silicate rocks spread over land and is durably stored as carbonate minerals in soils and oceans high temperature biochar how it works biomass is subjected to high temperatures 550 c to lock in co2 as biochar which is applied to soils and improves soil fertility properties product mineralization how it works co2 from atmospheric or biogenic sources reacts into a solid form and is stored in long lived materials criteria durability permanence projects must be able to provide long term storage of co2 for 1000 years certification projects must issue cdrs that are registered and certified under an icroa endorsed standard scale impact projects must be operational by eoy 2025 and be producing at scale bicrs dacs at least 10kt year high temperature biochar product mineralization enhanced weathering at least 5kt year eligibility project removes quantifiable atmospheric or biogenic emissions faqs who is nextgen nextgen cdr facility nextgen is a collaboration between industry leaders south pole and mitsubishi corporation backed by participating buyers boston consulting group lgt mitsui o s k lines mizuho swiss re and ubs what is nextgen s purpose and why is it necessary nextgen was established to help bridge the lack of support for innovative carbon removal technologies and projects that will impact their scaleup of cdrs by 2030 establishing a credible new market to compensate for removing co2 from the atmosphere is necessary to reach net zero emissions and innovative technology companies that can rapidly scale this activity need support through purchases to access the necessary financing to commercialize how does purchasing cdrs help companies to secure financing without creditworthy revenue sources shovel ready cdr projects are not viewed as having the revenue to repay their debts jeopardising their ability to borrow to cover the high capex costs for projects that the ipcc has highlighted as necessary to meet the climate goals of the paris agreement are companies supporting carbon removals to avoid decarbonization efforts no all nextgen buyers are committed to carbon removals as an additional activity to decarbonization efforts and will retire cdrs to ensure they are not being used to support activities misaligned with limiting warming to 1 5 c why would a company join nextgen instead of buying directly from projects expertise hiring the technical expertise or setting up a new team to manage projects is a difficult and expensive exercise quality nextgen emphasis on independent certification and delivery ensures cdrs meet recognized standards to ensure credible net zero targets pipeline nextgen leverages the origination channels and certification expertise of south pole and mitsubishi corporation to ensure buyers have access to best in class projects diversification higher risk associated with individual project contracting vs purchasing from a diversified portfolio pricing nextgen can secure attractive pricing due to economies of scale and market expertise while offering built in mechanisms to ensure buyers receive the best prices to realize an average target price of 200 t market insights collaboration with leading corporations that are developing the carbon removals sector along with informational events for industry insights and project deep dives why is certification important certification ensures that the assessment of carbon removals are measurable accurate and transparent while avoiding potential double claim issues when cdrs are not retired how is nextgen ensuring the quality and integrity of its project portfolio south pole and mitsubishi corporation in conjunction with nextgen buyers assess every project for their environmental and social impact along with the quality and delivery risk nextgen ensures that all projects will be independently certified and verified under icroa endorsed standards providing transparency in terms of measurement and verification of removals as well as retirement of cdrs latest news read more mizuho a japanese mega bank joins nextgen cdr one of the largest global portfolios of permanent carbon dioxide removals as a major buyer read more world s largest diversified carbon removal portfolio nextgen enters agreement with world s largest biochar producer exomad green to scale global biochar market enabled by carbonfuture digital mrv read more nextgen a south pole and mitsubishi corporation joint venture signs historic deal with alt carbon to scale asian cdr from india s tea plantations powered by get in touch contact us for more information info nextgencdr com privacy policy disclaimer imprint copyright nextgen cdr ag all rights reserved we use cookies to ensure that we give you the best experience on our website accept cookies decline cookies
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