Elimini, a recently established US company, which is 100% owned by Drax, has already signed 11 agreements with eight companies to reduce carbon emissions. Two so-called Fiber Option Agreements have been signed as well. These contracts, which are common in the bioenergy sector, offer the buyer flexibility by securing future access to raw materials at a fixed price without having to buy them immediately.
Headquartered in Houston, Elimini is examining more than 20 potential sites for BECCS projects in the US alone. According to Reuters, US-$12.5 billion (€11.1 billion) have been earmarked for this until 2035. BECCS involves the capture and storage of biogenic CO₂ from flue gases from the energetic use of biomass.
