Also in May, JP Morgan Chase agreed to purchase approximately 28,500 metric tons of carbon dioxide equivalent (mtCO2e) over five years from Charm. The public benefit company Frontier chose Charm for its first offtake deal announced in May, paying $53 million for 112,000 tons of CO2 on behalf of member companies such as Alphabet, Meta and H&M Group. The bio-oil is injected into abandoned oil and gas wells, where it sinks and solidifies in place, out of reach of fires and other climate risks.Ĭharm began operations in 2020, and has already delivered more than 6,000 metric tons of carbon removal. The pyrolysis Charm uses are small and can be moved from farm to farm on the back of a truck bed for on-site operation.
U.S.-based Charm Industrial produces both biochar and a carbon-rich bio-oil, heating agricultural wastes and residues such as leftover corn stalks to high temperatures in a low-oxygen environment through pyrolysis.
