Nellie Technologies Partners with Zurich Insurance for Multi-Year Carbon Removal Agreement

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Nellie Technologies and Zurich Insurance announce a partnership to scale carbon removal efforts
Nellie Technologies and Zurich Insurance team up for CO2 removal, advancing global sustainability goals

Nellie Technologies has announced a significant agreement with Zurich Insurance Group to purchase carbon dioxide removal certificates (CORCs) verified under the Puro Earth Standard. This multi-year, multi tonnage transaction will cover CO2 removals from Nellie’s operations in the UK for the next five years, showcasing the scalability and environmental impact of engineered carbon removal systems.

A Step Toward Full-Scale Carbon Removal

Stephen Milburn, Founder and CEO of Nellie Technologies, said, “This transformative agreement not only validates our vision to scale our systems but provides essential funding to expand our operations. Over the next years, we will transition from pilot operations to full scale carbon dioxide removal deployment, helping deliver societal and economic co-benefits inherent to our business model.”

Chris Minter, Sustainable Supply Chain Lead at Zurich Insurance, highlighted the urgency of scaling carbon removal capacity to achieve net zero emissions. He explained that Zurich is supporting a variety of innovative carbon removal solutions and expressed their satisfaction with finalizing the multi year contract after thorough due diligence. Minter emphasized that the agreement represents another significant step in Zurich’s sustainability journey and reinforces the company’s commitment to combating climate change.

Nellie’s Innovative CO2 Removal Technology

Since its founding in 2022, Nellie Technologies has focused on designing and deploying proprietary bioengineered CO2 removal systems. The company’s unique approach turns biomass into biochar, a sustainable product used in the UK agricultural sector. Nellie’s operational system also gives it near total control over the removal and sequestration process, providing a clear advantage in the carbon removal market.

Also read: Marubeni and MOL Partner on Nature-Based Carbon Removal Venture

Supporting Zurich’s Path to Net-Zero

Over the next five years, Nellie will transfer an increasing number of CORCs to Zurich, helping the company remove its residual emissions and make significant progress toward achieving net zero operational emissions. This purchase agreement not only bolsters Zurich’s sustainability efforts but also provides crucial capital for Nellie to expand its operations, enhance its pilot site, and scale its CO2 removal capacity.

European Investment Bank Provides €400 Million Loan for Poland’s Largest Offshore Wind Farm 

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EIB loan Poland Baltica 2 offshore wind farm
EIB’s €400M loan helps fund Poland’s Baltica 2, enhancing renewable energy and regional energy security

The European Investment Bank (EIB) has committed to a €400 million loan to Polska Grupa Energetyczna (PGE) for the development of Baltica 2, the largest offshore wind farm project in the European Union. The 1.5 GW offshore wind farm will be placed approximately 40 kilometers off the Polish coast, in the Baltic Sea. Once completed, Baltica 2 will significantly boost Poland’s renewable energy transition, reduce emissions, and improve energy security.

This is the first tranche of a €1.4 billion EU package supporting PGE and Ørsted’s Baltic wind farms. Along with Baltica 3, the projects are expected to contribute a combined total capacity of 2.5 GW. It would increase PGE’s renewable portfolio and help diversify Poland’s energy sources since it is quitting coal.

Teresa Czerwińska, EIB Vice-President said, “As the climate bank of the European Union and a leading partner of multidimensional energy transition in Poland, the EIB is keenly supporting Baltica 2. The EIB’s investment of €400 million is the largest own resources contribution to this transformative project by a financial institution.”

Strategic EU Support for Energy Security

This project is essential for Poland’s energy transition and strengthens regional cooperation and energy security in the Baltic Sea region. The wind farms will employ the best turbine technology in the world, further solidifying Poland’s position in Europe’s green energy economy. The project aligns with EU initiatives such as InvestEU, REPowerEU, and the Recovery Facility to enhance sustainable energy infrastructure.

Also read: EIB and Breakthrough Energy Invest €70 Million in INERATEC’s E-Fuel Plant

Partnership with Ørsted and Other EIB Financing in Poland

This loan to PGE builds on earlier EIB support for Ørsted, boosting offshore wind energy development across Poland. The EIB has supported Poland’s energy transition, co-financing its first offshore wind farm in 2023 and modernizing energy infrastructure.