Climate solutions provider Charm Industrial announced that it has signed a new deal with Boeing, with the aerospace giant agreeing to offtake up to 100,000 tonnes of permanent carbon removals.
Charm began operations in 2021, and has focused primarily on bio-oil production and sequestration, using plants to capture CO2 from the atmosphere, collecting agricultural residue from harvests or forest fire management, converting the biomass into bio-oil through pyrolysis, and pumping the bio-oil underground in EPA-regulated wells, where it sinks and solidifies in place. Earlier this year, the company expanded its portfolio to include biochar as an additional offered carbon removal approach.
The deal marks Charm Industrial’s first with an aviation company, and one of its largest to date. Charm has announced carbon removal deals with companies including Google and JPMorgan, as well as a $53 million offtake deal with carbon removal buyer coalition Frontier.
Boeing has voluntarily offset its Scope 1 and Scope 2 CO2 emissions from its manufacturing sites and other operations facilities, since 2020, in addition the company’s Scope 3 business travel emissions, using traditional carbon offsets. In 2024, the company said that it will focus on a “avoid first, remove second” strategy for carbon management, prioritizing prevention of carbon emissions by reducing or avoiding those emissions at the source, while utilizing offsets and removals for hard to abate emissions.
In a post announcing the new agreement, Charm Industrial said:
“The agreement marks a substantial step forward for durable, high-integrity carbon removal and reflects the growing alignment between durable CDR and aviation. We’re incredibly proud of the team driving this work and honored to partner with a global aerospace leader on long-term, trusted solutions.”
