Carbon credit marketplace and infrastructure provider EmitIQ has signed a Letter of Intent (LOI) with CO2 Lock, agreeing to purchase 33% of the carbon storage company’s annually generated credits.
As specified by the two partners, EmitIQ will purchase over 300,000 verified carbon credits per year generated from CO2 Lock’s flagship SAM project, positioned southwest of Prince George, British Columbia.
Kelly Sherman, President of EmitIQ dMRV, commented on this collaboration by sharing that the tech-based credits of CO2 Lock are an excellent addition to EmitIQ’s global portfolio of high-integrity climate solutions.
CO2 Lock has developed a technology that uses a brucite-based mineralization process to store carbon dioxide in solid mineral form.
Its landmark SAM site operates with CO2 captured from industrial sources like pulp mills and refineries or directly from the atmosphere with direct air capture (DAC) technology, which then gets processed and transported to the sequestration location, where it gets injected underground to mineralize in a reaction with brucite.
The company performed the first captured CO2 injection back in 2024, demonstrating the carbon management feasibility of its approach.
Projected to store hundreds of tonnes of CO2 in its initial stages of operation, the SAM plant will work towards the goal of storing up to 1 million tonnes of carbon dioxide annually within the next 25 years.
As part of its global decarbonization vision, CO2 is working on creating a network of sequestration sites that will have the capacity of storing millions of tonnes of CO2 every year, contributing towards achieving time-sensitive climate targets.
Relevant: CO2 Lock To Launch CCS Pilot Project In British Columbia
In a statement, CO2 Lock CEO Scott Larson explained that this partnership with EmitIQ fully cements the value chain from carbon supply to revenue while de-risking CO2 Lock’s commercial operations.
He stated, “We look forward to working closely with EmitIQ to build a verifiable and scalable pathway for carbon credit monetization. For buyers, this collaboration offers trustworthy, permanent CO₂ removal solutions with access to some of the highest-integrity credits on the market.”
