Charm Industrial Achieves The Largest Permanent Carbon Removal Delivery Of All Time
FOR IMMEDIATE RELEASE
October 21, 2021
Media Contact: Brian Willis, Brian.Willis@Pioneerpublicaffairs.com
San Francisco, CA — Today, Charm Industrial announced the delivery of more than 5,000 metric tons of CO₂e removal since January, the largest permanent carbon dioxide removal delivery in history — all within the company’s first year of commercial operation.
“We are tremendously proud of this accomplishment, but we cannot rest on our laurels. 5,000 metric tons is a drop in the bucket. We are in a race against time to remove billions of tons of carbon dioxide per year according to IPCC models”, said Peter Reinhardt, co-founder of Charm Industrial. “We’ll need multiple methods of carbon removal, all scaling at breakneck speed, to meet our climate goals. That’s why we’re excited that other companies are racing to deploy their own carbon removal capacity as well. We’d love to see many more permanent carbon removal companies begin deliveries.”
Charm Industrial uses an innovative approach to remove carbon dioxide from the atmosphere. It converts biomass from farms, ranches and forests — which would ordinarily decompose into carbon dioxide — into a carbon intensive bio-oil. Charm then sequesters the bio-oil deep underground using existing injection wells, like a reverse oil company, where it will remain harmless for tens of thousands or potentially millions of years.
“Carbon removal purchases are directly enabling us to scale up production of pyrolyzers to bend down our future cost curve, much like solar power has over the past 20 years,” said Reinhardt. “To continue scaling up engineered carbon removal, we need more carbon removal buyers to convert their climate commitments into carbon contracts. It’s critical on the pathway to a healthy planet.”
In addition to the 1,400 tons CO₂e Charm previously delivered to Stripe and Shopify, the company’s newest delivery includes 2,000 tons CO₂e for Microsoft, and an aggregate 1,900 tons CO₂e for Zendesk, Square, Sourceful, Aerial, Pledge, Carbon Removed, Kickstarter, Klimate, Thanks a Ton, Joro, Cosora.earth, Climate Responsible, Canopi, Chero, Removement, Andrew Brook, Nicolas Schultheiss, Ted Suzman, Ilya Volodarsky, Tom McInerney and Calvin French-Owen.
The quickest way to see more carbon removal is for Congress to use the Build Back Better package to expand the 45Q carbon removal tax credit to incentivize innovative technologies, rather than limiting 45Q to only the largest industrial CO2 emitters.
