It is a significant investment for a new leader in environmental technology.
As part of its efforts to support Holocene’s direct-air capture technology, which is designed to collect and remove carbon dioxide emissions from the atmosphere, Google has announced that it has entered into a relationship with the company. In accordance with this agreement worth ten million dollars, Google will acquire carbon reduction credits from Holocene at a rate of one hundred dollars per metric ton. The United States Department of Energy has established this price as a target for direct-air capture technology in order to make it a practical component of the efforts that are being made to lower the rate at which carbon dioxide is released into the atmosphere.
In accordance with what the name suggests, direct-air capture is capable of extracting carbon dioxide from the atmosphere, after which it can be concentrated and stored in underground reservoirs. In theory, it seems like a fantastic idea; but, the technology has proven to be both expensive and difficult to scale. In addition to assisting Holocene in further refining its DAC technology, Google stated that its backing should make it possible for the firm to collect and store 100,000 tons of carbon dioxide from the atmosphere by the early 2030s. There is a more in-depth explanation of Holocene’s DAC technique available on the website of the company.
At a number of large technology companies, sustainability has emerged as a topic of significant discussion. As a result of the significant amount of money that Google has invested in purchasing carbon offsets, the company claims to have completely eradicated its “carbon legacy,” and it has set a goal to become carbon neutral by the year 2030. The extensive data center demands of artificial intelligence utilization have led to a nearly fifty percent increase in the company’s greenhouse gas emissions over the course of the past five years.