The carbon removal market saw another high-profile deal today after Microsoft announced it had agreed to acquire 2.76 million carbon removal credits from Danish energy giant Ørsted. The 11-year deal, hailed by the companies as "one of the world's largest carbon removal deals by volume", will see Microsoft purchase credits issued by the Ørsted Kalundborg Hub, which is set to deploy carbon capture capabilities in its woodchips. The Asnæs power station in Kalundborg, West Zealand, and the straw boiler at the Avedøre power station in the Greater Copenhagen area. The news comes as the Danish Energy Agency (DEA) has separately awarded Ørsted a 20-year contract for a pioneering carbon capture and storage (CCS) project. "We are incredibly pleased with the outcome of the tender and look forward to starting work on setting up a carbon capture facility at two of our combined heat and power plants that use sustainable straw and wood chips," said Ole Thomsen, Senior Vice President and Head of Business with Ørsted bioenergy. "According to the UN's Intergovernmental Panel on Climate Change (IPCC), the capture and storage of biogenic CO2 is one of the tools we must use to combat climate change, and our CCS project will make a significant contribution to the realization of the politically decided Danish climate targets for 2025 and 2030." " Under contract with the Danish government, the combined Asnæs and Avedøre power plants will begin capturing and storing biogenic carbon by 2025. From 2026, the two units are expected to capture and store approximately 430,000 tons of biogenic CO2 per year. (James Murray)