LOS ANGELES, May 23, 2024 (GLOBE NEWSWIRE) -- The world needs carbon dioxide removal (CDR) at globally relevant scales as soon as possible — and we cannot achieve that milestone without a thriving, verifiable carbon market. That is why Equatic has been committed to producing high-quality CDR credits since its inception.
We’ve pushed that commitment one step further to hold ourselves — and the industry — accountable. Today, in partnership with EcoEngineers and the International Organization for Standardization (ISO), we’ve unveiled ISO 14064-2:2019, a new methodology for monitoring, reporting, and verifying (MRV) of electrolytic ocean-based CDR.
This methodology offers a thorough, transparent framework for quantifying, monitoring, reporting, and verifying greenhouse gas (GHG) emissions and removals at the project level in ways that meet ISO’s rigorous and world-renowned reporting standards. Requirements for project planning as well as identifying and selecting project-specific GHG sources, sinks, and reservoirs (SSRs) are included in the standard. Furthermore, it offers guidance on project performance and data quality management, including recommendations on baseline scenario outlines, monitoring, quantifying, documenting, and reporting.
The full package represents one of the most comprehensive MRV methodologies currently available to the public. Some of the most rigorous and unique aspects include:
- Closed-system crediting, including measuring the changes in the carbonate system in both the incoming and outgoing seawater using off-the-shelf sensors for solid and liquid samples
- Carbon emissions of any inputs and the transportation of all inputs and outputs
- System leakage considerations, including electricity and carbon dioxide (CO2) sourcing and leakage, as well as physical forms of potential CO2 leakage
- Guidelines for additionality including regulatory and financial additionality
Consulting, auditing, and advisory firm, EcoEngineers (Eco) was integral to the development of this methodology. Roxby Hartley, Ph.D. and climate risk director at Eco found that this methodology “provides a clear road map that aligns with the highest industry standards, ensuring that the carbon removal process is meticulously monitored and recorded.”
Equatic’s two pilots in Los Angeles and Singapore have been instrumental to testing the deployment of sensor technology and control systems. With this ISO 14064-2:2019 standard now in place, Equatic is preparing to implement its integrated MRV at Equatic-1, the world’s largest ocean-based CDR plant being built in Singapore.
Equatic-1 will be built as a modular system, with each module consisting of an electrolyzer with the capacity to remove 1 tonne of carbon dioxide (CO2) per day. The modular design enables Equatic to scale to commercial volumes by numbering up units rather than scaling up the size of the electrolyzer. Not only does this enable systematic and cost-effective scaling, it establishes high-quality carbon removal at and across all system and plant volumes.
Verifiability is at the center of Equatic’s process and must become the cornerstone for the entire CDR industry in order to create a vibrant and successful carbon market.
Equatic invites public comment for a period until June 10, 2024.
For more information, please visit the following resources:
- ISO 14064-2:2019: Methodology for Measurement, Reporting, and Verification of Electrolytic Oceanic Carbon Dioxide Removal
- Statement on High-Quality Carbon Removal Credits
- White Paper: Equatic's Measurement, Reporting, and Verification Methodology
- Peer Reviewed Publication: Electrolytic Seawater Mineralization and the Mass Balances That Demonstrate Carbon Dioxide Removal
About Equatic:
Equatic is a carbon removal company leading the industry in combined carbon dioxide removal and carbon-negative hydrogen generation. Using a patented seawater electrolysis process, Equatic amplifies the ocean’s inherent ability to absorb and store massive amounts of carbon. The technology was created and developed at the UCLA Samueli School of Engineering’s Institute for Carbon Management. Following the successful operation of two pilot facilities in Los Angeles and Singapore, Equatic is now constructing the world’s largest ocean-based CDR facility and works with industry pioneers, national agencies, and government leadership to scale climate solutions at unprecedented rates. The company sells high-quality carbon removal credits and is the only ocean-based carbon removal company that measures removal inside the boundary of its plants, leading to unprecedented certainty.
For media inquiries or further information, please contact:
LaunchSquad for Equatic
equatic@launchsquad.com
