Removr appoints seasoned US-based energy transition professional as CEO to lead commercialization of industrial-scale DAC
Boulder, Colorado, and Oslo, Norway, December 12, 2023
Removr has appointed Chi Chow as its new Chief Executive Officer (CEO) to lead the global deployment of industrial-scale direct air capture (DAC) solutions based on the company’s innovative, efficient and sustainable carbon removal technology platform.
DAC technologies extract CO2 directly from the atmosphere for permanent subsurface storage or utilization for other applications. Removr aims to commercialize, finance and develop scaled CO2 removal plants in the Nordics and a targeted 1 million ton per year facility in the United States, positioning the company to capture attractive incentives for DAC currently offered by the US Inflation Reduction Act and sell high-quality, durable carbon dioxide removal (CDR) credits. Governments and companies across industries are increasingly seeking industrial-scale solutions to deliver on their net-zero roadmaps, driving accelerating worldwide demand for CDR credits.
Chi Chow has extensive energy and energy transition experience, most recently as Principal at Alussa Energy, a clean energy special purpose acquisition company that merged with FREYR Battery in a public listing transaction on the New York Stock Exchange, and as a strategic adviser to Removr. Chow also brings with him over two decades of experience within energy capital markets as a top-rated equity research analyst for Tudor, Pickering, Holt & Co., Macquarie Capital and other investment banks, and corporate strategy and finance positions at ARCO and Andeavor.
“COP28 has highlighted business and world-leaders’ joint call for accelerated action, and the central role of carbon removals against the escalating climate crisis. Removr will be an important part of the solution and we are excited to bring Chi in to lead the company towards our ambition to deliver carbon removal technology at scale and the world’s first megaton solid sorbent DAC plant in the US” says Anders Hærland, the Chair of Removr. “We are confident that Chi together with the team and strong industry backing for our projects in North America and Europe, will yield strong development ahead”.
“The world is facing an existential climate crisis that requires the adoption of all decarbonization solutions. Negative emission carbon removal will play a key abatement role in this quest, and Removr is pioneering the deployment of an innovative, sustainable technology process to remove CO2 directly from the air that requires no water, no chemicals, no critical minerals, and no fossil fuel use. I look forward to leading an extremely well-positioned company and a purpose-driven team deeply committed to developing an industrial-scale approach to carbon removal and, importantly, creating significant value for our stakeholders, including customers, partners, investors, and society as a whole,”
says Chi Chow, the new CEO of Removr.
Removr is executing a phased development strategy with its first commercial projects scheduled to commence operations in Iceland in 2026, with an intended capacity of over 50,000 tons of CO2 removal per year when fully operational. The planned megaton facility in the US is scheduled for commercial operations in 2030. The US is positioned as the most attractive location for large-scale DAC deployment due to growing developments of clean power resources and strong government incentives. The incentives include tax credits per ton of CO2 stored and regional support programs for DAC hubs, including the Ankeron Carbon Management Hub in Washington State, where Removr is a participant through a federal grant as part of a consortium of leading carbon removal companies covering the full value chain.
Chi Chow takes over for Einar Tyssen, the founder of Removr. Tyssen will transition to the position of Chief Operating Officer (COO) and continue in a key corporate role to drive Removr’s global industrialization of its DAC solution, including the execution of Removr’s inaugural projects in Norway and Iceland, which are seen as vital launch pads for scaling the company’s technology processes.
The zeolite-based technology used by Removr is currently deployed in a fourth operational DAC pilot, a 50-ton-per-year facility developed by technology partner GreenCap Solutions near Stavanger, Norway. The innovative and efficient technology has been developed in the Nordics, utilizing existing components and processes from heavy industry. The process offers unique sustainability benefits and enables highly scalable, automated carbon removal designed to operate entirely on renewable electricity with the potential flexibility to also manage low concentration point source emissions.
Removr industrializes direct air carbon capture solutions. The company’s strategy is to design, develop and operate large-scale carbon removal facilities with unique sustainability benefits and sell high-quality, durable carbon dioxide removal credits. The ambition is to deliver the world’s first 1 million ton per year solid sorbent DAC plant and become a global leader in carbon removal to help solve one of greatest challenges of our time. Removr is owned by Vanir Green Industries, founders of NYSE-listed FREYR Battery, and GreenCap Solutions, a technology company controlled by BR Industries. To learn more, please visit removr.com
Chi Chow, CEO, firstname.lastname@example.org
Anders Hærland, Chair, email@example.com