Zurich Insurance Group has signed a five-year agreement with Nellie Technologies to purchase up to 17,500 tons of carbon removal credits. The deal, Zurich’s largest carbon removal purchase to date, places the company among the top 20 corporate buyers of carbon dioxide removals (CDRs), according to CDR.fyi.

Nellie Technologies specializes in biochar-based carbon removal, using algae to produce biocharBiochar is a carbon-rich material created from biomass decomposition in low-oxygen conditions. It has important applications in environmental remediation, soil improvement, agriculture, carbon sequestration, energy storage, and sustainable materials, promoting efficiency and reducing waste in various contexts while addressing climate change challenges. More and biofertilizer. Biochar, created by heating biomassBiomass is a complex biological organic or non-organic solid product derived from living or recently living organism and available naturally. Various types of wastes such as animal manure, waste paper, sludge and many industrial wastes are also treated as biomass because like natural biomass these More without oxygen, stabilizes carbon for long-term sequestration while also enhancing soil fertility. The credits, known as carbon dioxide removal certificates (CORCs), will come from Nellie’s UK operations, where the biomass will be used in agriculture.

For Nellie Technologies, this agreement provides critical funding to scale its operations, including expanding its pilot site and increasing carbon removal capacity. CEO Stephen Milburn emphasizes that this deal supports Nellie’s transition from pilot to full-scale deployment.

Zurich sees the agreement as a step toward achieving its net-zero operational emissions target by 2030. The company, which accelerated its net-zero goal from 2050 to 2030, is working with a mix of technology-based and nature-based solutions to address residual emissions.

Chris Minter, Sustainable Supply Chain Lead at Zurich, highlights the urgency of scaling carbon removal technologies. He states that the deal aligns with Zurich’s broader sustainability strategy. Milburn echoes this sentiment, emphasizing that emissions reductions should come first, with removals addressing unavoidable emissions.

This partnership reflects the growing corporate focus on high-integrity carbon removal solutions as part of broader decarbonization efforts.