Parallel Carbon to Supply 1,200 Tons of CDR to Zurich Insurance Group Using Carbon-Negative Hydrogen Technology

Parallel Carbon has signed a pre-purchase agreement to supply 1,200 metric tons of high-integrity carbon removal (CDR) credits to Zurich Insurance Group (Zurich). The CDR credits will be issued as Carbon Removal Certificates (CORCs) under the Puro Standard and be generated by Parallel Carbon’s integrated direct air capture with geological storage and hydrogen (DAC+H2) production process.

Parallel Carbon’s DAC+H2 process will be used to produce carbon-negative hydrogen. The carbon-negative CDR attributes will be provided to Zurich as CORCs. The hydrogen is expected to be sold to a low-carbon ammonia producer. By combining CDR with geological storage and hydrogen production, Parallel Carbon’s technology enables decarbonisation of industry (fertilizer, chemicals, fuels) alongside net-zero efforts.

Hydrogen from these projects will be sold with near-zero carbon intensity, meeting local definitions of “renewable” or “green” hydrogen. While thresholds vary by jurisdiction, typical regulatory benchmarks require life cycle emissions below approximately 3 kg CO2e per kg of hydrogen; levels that Parallel Carbon’s integrated production pathways are designed to substantially undercut.

This coupling of atmospheric carbon storage with defossilised molecule production allows buyers to support both carbon removal and value-chain decarbonisation through a single system.

Looking ahead, the same integrated DAC+H2 platform can enable the future supply of electro-sustainable aviation fuels (e-SAFs), complementing Zurich’s stated approach of addressing unavoidable residual emissions through durable carbon removal while supporting longer-term decarbonisation pathways.

By supporting early deployment of scalable carbon-negative hydrogen systems, Zurich is not only securing durable carbon removal, but also reinforcing its foothold in a promising market and helping accelerate the infrastructure required for future low-carbon fuel availability; extending climate impact beyond carbon accounting alone.

Under the agreement, Zurich has secured forward access to 1,200 tons of CDR capacity with options for additional purchase volumes, providing demand certainty that supports project deployment while reinforcing quality thresholds in an emerging market.

Commenting on the agreement and its pricing structure, Chris Minter, Head of Supply Chain Sustainability at Zurich, said:

“Parallel Carbon’s integrated approach offers a compelling combination of high-integrity carbon removal and a credible pathway toward improved cost performance over time. For buyers like Zurich, early engagement with technologies that demonstrate strong fundamentals and clear future cost trajectories is pivotal for securing a position in the promising and rapidly developing carbon-removal market.

This pre-purchase reflects our confidence in Parallel Carbon’s ability to scale responsibly and includes rights of first refusal that allow us to remain closely aligned as they expand capacity. We look forward to working with the team as they bring low-cost, high-quality CDR supply to market in the years ahead.”

This type of pre-purchase reflects growing discipline on the demand side of CDR markets, where buyers are increasingly prioritising quality, durability, and long-term system relevance over near-term volume. 

The agreement marks a key milestone for Parallel Carbon; the majority of its CDR credits through 2030 have been sold. By using CDR pre-purchases to anchor revenues from a carbon-negative hydrogen project, project development is de-risked, and clean hydrogen can be supplied at competitive prices.

The agreement marks a key milestone for Parallel Carbon; by anchoring carbon-negative hydrogen project revenues,  this deal de-risks project development and enables clean hydrogen to be supplied at competitive prices.

Ryan Anderson, CEO of Parallel Carbon, said: 

“Integrated systems that combine carbon removal and decarbonisation in parallel are structurally advantaged in today’s sustainable solutions landscape and evolving policy environment. By delivering durable CDR alongside clean molecule production, we are able to create stronger project economics and unlock more climate value from the same infrastructure.

This approach enables science-based, transparent carbon accounting while supporting real-economy decarbonisation. Demand is converging around solutions that pair durable removal with credible economics and measurable impact, and this agreement with Zurich reflects that shift.”

Together, the agreement signals how early demand can accelerate the scale-up of high-integrity carbon removal while supporting the infrastructure needed for long-term decarbonisation.