Google Partners With Holocene In Reducing Carbon Emissions

Illustration of carbon dioxide issued by the company (photo: dock. Google)

JAKARTA Google is officially working with Holocene, a technology provider for Live Air Arrest (DAC), on September 10. Through this collaboration, Google will buy carbon credit at the lowest price.

The big tech company bought a carbon credit of 100 US dollars (Rp 1.5 million) per ton, the lowest price ever recorded for the technology according to Google. The DAC technology that has been purchased will be delivered in the early 2030s.

Google says that DAC is a promising technology because it uses the chemical process in extracting carbon dioxide from the air, then stored permanently in the ground. This method is considered capable of eliminating billions of tons of carbon every year.

Therefore, partnering with Holocene is considered an important milestone in advancing DAC's feasibility, especially by reaching the cheapest price. Technology can be used as a tool against climate change.

"Although the technology continues to increase, the price is still hundreds of dollars per tonne of carbon dioxide removed. In order for more companies and governments to invest in the DAC project, costs (this technology) must drop drastically," said Google.

Currently, Holocene's technology is still in its early stages of development. However, Google has invested from the start because it is confident that the DAC technology that Holocene develops can significantly reduce costs over time.

"The Holocene project meets the US government's 45Q tax credit in addition to Google payments, which provides investment incentives in DAC by providing a $180 (IDR 2.7 million) supplier per omitted carbon," Google said.

Holocene is targeted to capture and store 100,000 tons of carbon dioxide in the early 2030s. This amount of carbon is equivalent to 20 thousand gas-powered vehicles driven in one year.