SEK 20 billion to capture and store over 11 million tons of biogenic carbon dioxide

Sweden has taken a significant step towards achieving negative emissions with the decision by the Swedish Energy Agency to support bio-CCS technology. Stockholm Exergi won the first reverse auction under the new support scheme, which covers the full cost of capturing, transporting, and storing biogenic carbon dioxide. The project will receive over 20 billion SEK, paid over a maximum of 15 years, to capture and store biogenic CO2. The initiative is part of a larger SEK 36 billion scheme approved by the European Commission to support projects removing biogenic CO2 emissions through permanent CCS.