Vaulted Deep Delivers First Tonnes to Frontier Buyers within Just Four Months of Signing Offtake Agreement

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Oct 02, 2024, 09:00 ET

In first year of operation, Vaulted Deep has issued over 5,000 tonnes of durable carbon removal, including to Frontier buyers, beginning an industry first in monthly deliveries against large offtake agreements

HOUSTON, Oct. 2, 2024 /PRNewswire/ -- Vaulted Deep ("Vaulted"), a biomass carbon removal and storage (BiCRS) carbon dioxide removal (CDR) company, announced today that it has delivered the first batch of tonnes in its offtake agreement with Frontier, kickstarting Vaulted's monthly, third-party verified deliveries. Vaulted has rapidly deployed high-quality CDR since the company's launch in September 2023, marking a total of over 5,000 tonnes removed overall.

In May 2024, Frontier announced that it had facilitated a $58.3 million offtake agreement with Vaulted Deep to permanently remove 152,480 tonnes of CO₂ between 2024 and 2027. This marks the first delivery of the multi-year agreement.

"In just over a year, Vaulted delivered all of the tons from a small prepurchase and is now kicking off deliveries under our multi-year offtake agreement with Frontier buyers," said Hannah Bebbington, Head of Deployment at Frontier. "By tapping into existing industrial technology and expertise, they're deploying with the speed and volume needed to get carbon removal to gigaton scale."

Spun out of industrial waste management company, Advantek Waste Management Services, Vaulted intercepts a wide range of sludgy, carbon-rich, organic wastes – biosolids, agricultural and livestock waste, and paper mill sludge – permanently locking them underground before the carbon can be re-released into the atmosphere. Frontier buyers were Vaulted's first customers in September 2023 through a small prepurchase of 1,666 tons—all of which have already been 3rd party audited and delivered.

"This delivery is the first of many, as we show our customers and the industry we can reliably remove meaningful amounts of carbon month after month," said Julia Reichelstein, CEO of Vaulted Deep.

Vaulted launched with access to two permitted operational injection sites in Los Angeles County and Hutchinson, Kansas, making rapid, permanent CDR deployment possible. The company is set to commission new wells which are to be sited at locations to optimize feedstock availability, transportation, and well capacity. Vaulted's approach starts with vegetation naturally drawing down CO₂ from the atmosphere via photosynthesis. Much of that ends up as carbon-rich waste in the form of biosolids, manure, food or agricultural waste that is incinerated, landfilled, or spread on land. As that waste burns or decomposes, the once-captured CO₂ is released back into the atmosphere. Vaulted prevents that from happening by turning that waste into a carbon-rich slurry and then injecting it into deep disposal wells for permanent geologic storage.

By processing a range of often pathogenic and contaminated organic wastes, Vaulted's CDR provides substantial co-benefits that include eliminating methane emissions (which Vaulted does not include in its credit accounting), reducing water-borne illnesses, and preventing pollution that disproportionately harms marginalized communities.

Vaulted's carbon removal credits are issued by CDR registry, Isometric. Isometric is a scientifically rigorous carbon removal registry with a mission to ensure the transition to carbon removal happens responsibly and fast. Vaulted's monthly deliveries for Frontier are verified by Isometric's dMRV system that rapidly verifies carbon removal and enables continuous deliveries. The dMRV platform works by creating a standardized way for suppliers and verifiers to provide all required data and evidence to Isometric. By automating these data flows the platform drastically reduces the time from submission of carbon accounting data to crediting—from months to days. This has supported credit issuances keeping pace with Vaulted's rapid cadence of carbon removals, compared to the industry norm of annual or even less frequent crediting cycles.

As the CDR industry continues to expand, rapid scalable deliveries are essential and help advance the industry toward the United Nations' International Panel on Climate Change's goal of permanently removing at least five gigatons of carbon annually by 2050 to prevent the worst impacts of climate change.

About Vaulted Deep
Vaulted Deep is a biomass carbon removal and storage (BiCRS) carbon removal company dedicated to the geologic sequestration of organic wastes. Vaulted Deep's mission is to utilize the proven and patented geologic slurry injection technology for permanent carbon dioxide removal (CDR) through the sequestration of organic wastes, thereby accelerating the earth's natural process and contributing significantly to the global fight against climate change. Vaulted Deep is backed by Advantek Waste Management Services and Lowercarbon Capital, Earthshot Ventures, and others. To learn more, go to www.vaulteddeep.com.

SOURCE Vaulted Deep