First commercial solar-powered direct air capture project

AspiraDAC has partnered with Southern Green Gas in a project that will see them combine to build 180 DAC modules to generate a direct air capture facility on arid land that will be able to extract 330 tonnes per annum of CO2 from the atmosphere. Piper Alderman advised Corporate Carbon Group Pty Ltd and its wholly owned subsidiary, AspiraDAC Pty Ltd, on securing funding from Stripe Inc. for Australia’s first commercial solar-powered direct air capture (DAC) project.

The Piper Alderman team advised on the negotiation of the documentation for Australia’s first commercial solar-powered direct air capture project. As part of this transaction, the team also assisted in negotiating Australia’s first commercial DAC offtake agreement between AspiraDAC and Stripe Inc. Piper Alderman’s experience in capital raisings was vital in successfully guiding on the deal.

James Macdonald, Principal of Piper Alderman said:

“Piper Alderman is pleased to be able to assist Corporate Carbon and AspiraDAC on such an important pioneering project that has the potential to make a real impact on achieving net zero emissions targets.”