Swedish energy company Stockholm Exergi has announced plans to build one of the world’s largest facilities for capturing and permanently storing biogenic carbon dioxide. The project, called Beccs Stockholm, will employ Bioenergy with Carbon Capture and Storage (BECCS) technology and could mark a significant step toward Sweden’s goal of reaching net-zero emissions by 2045.
As pressure mounts to limit global warming to 1.5°C or even 2°C, the need for permanent carbon removal is more urgent than ever. One company addressing this challenge is Stockholm Exergi, through its Beccs Stockholm project. This initiative aims to capture CO₂ from organic, renewable sources before it can enter the atmosphere. The captured carbon will then be transported to Norway to be permanently stored under the North Sea.
Climate positive
Stockholm Exergi already generates heat and electricity from residual biomass, mainly waste from forestry operations. By integrating BECCS technology into this system, the company aims to make its operations not just carbon-neutral, but also climate-positive.
New financing sources
The SEK 13 billion project will be funded through a combination of public financing, support from the EU Innovation Fund, and private investment through the sale of negative emissions certificates. In a major milestone, in April 2025, the European Investment Bank (EIB) approved a €260 million loan, the first time the EIB has financed a Carbon Capture and Storage (CCS) project.
Companies like Microsoft and Frontier have already signed agreements to purchase carbon credits from Beccs Stockholm, which are some of the largest commitments to the voluntary carbon market to date.
Leadership in Climate Innovation strengthened
Beccs Stockholm aims to be Sweden’s first large-scale bioenergy plant with carbon capture capabilities, potentially serving as a model for similar projects across the region. This groundbreaking project could play a central role in advancing net-zero emissions goals, supporting both Sweden’s and the EU’s climate targets.
Through international cooperation, industrial partnerships, and a growing voluntary carbon market, the success of this initiative could strengthen the Swedish and Nordic regions’ leadership in climate innovation.
Source: European Investment Bank (EIB). Read the press release here.
Read more about BECCS Stockholm on their website: https://beccs.se/
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