Climate solutions provider Charm Industrial announced a new carbon offtake removal deal with TD Bank, with the Canada-based financial services firm purchasing 44,000 tonnes of carbon removal over 10 years, starting in 2029.
California-based 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. In 2025 the company expanded its portfolio to include biochar as an additional offered carbon removal approach.
TD Bank’s purchase will include carbon removals generated through both bio-oil sequestration and biochar carbon technologies.
Alongside the new agreement, Charm also said that it will accelerate the exploration of new operations in Canada, noting that the Canadian government has signaled strong support for durable carbon removal solutions, including investments in innovation, early market development, and an upcoming public procurement for carbon dioxide removal.
In a post announcing the new agreement and expansion plans, Harris Cohn, Chief Revenue Officer at Charm Industrial said:
“Canada presents a unique opportunity to fulfill all of the many positive community impacts Charm can drive: help solve wildfire problems people breathe in and see every day, help clean up and plug old oil wells, and deliver climate impact that also benefits local economies and ecosystems.”
The company said that a portion of the credits from the agreement with TD will be sourced from its future Canadian operations.
