Heirloom signed a multi-hundred million dollar carbon removal deal with Microsoft
Shashank Samala · Building a decarbonization army with Shashank Samala of Heirloom · Feb 8, 2024 · at 21:05
Shashank Samala is the co-founder and CEO of Heirloom. He discusses corporate demand in the voluntary carbon removal market.
0:00 / 0:06exact quote · 6.1s
720p mp4 · rendered on demand · StarZero watermark
“This year we signed a contract with Microsoft. It's about 315,000 tons. It's a multi-hundred million dollar deal.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Shashank Samala
Carbon removal will become a trillion-dollar industry at $100-$200 per ton
“So, you know, we think that In a medium to long term, the carbon price is likely going to be in the hundred to 200 dollar per ton mark, and at that cost, for five to ten billion tons, we were talking about a trillion dollars worth of carbon removal industry.”
Heirloom's direct air capture is 5,000 to 10,000 times more land-efficient than trees
“So compared to trees, these are actually about Five to 10,000 times more land efficient.”
Synthetic direct air capture materials are too expensive to scale globally
“So the traditional way folks have gone about it was basically to build a novel material artificially. But the problem was not whether you could capture the CO two. The problem was the cost of making that material. And because the supply chains don't exist, you…”
Heirloom operates North America's first direct air capture and storage plant
“Yeah, so this is the first director capture facility in North America that captures and stores CO₂ from the air.”
Carbon removal credit prices will eventually coalesce around $300 per ton
“And, you know, there's, we think that the price is going to coalesce around 300 dollars per ton, given where the supply and demand, ah, is.”
Emissions reductions alone cannot prevent climate change without removing billions of tons
“We can't just reduce emissions anymore. It won't be enough to stop climate change if you've emitted too much. And, you know, you can reduce emissions you've already emitted, so we have to start removing some of that carbon from the atmosphere. By some I mean i…”