Boeing has entered a landmark agreement with climate startup Charm Industrial to sequester 100,000 metric tons of carbon dioxide according to a report in Axios, marking one of the aerospace giant’s most ambitious sustainability initiatives to date.
As the commercial aviation sector struggles to transition away from fossil fuels, Boeing is turning to underground carbon storage as a cost-effective alternative to sustainable jet fuels.
Charm’s process begins with agricultural and forestry residues, which are converted into a dense liquid known as bio-oil through a thermal treatment. Instead of being burned, the bio-oil is injected deep underground, including into depleted oil wells, where it can remain stable for centuries.
The approach provides a tangible solution for companies facing growing pressure to offset emissions while more scalable fuel alternatives remain years away. For Boeing, the new agreement underscores a pragmatic strategy: combine emerging carbon removal technologies with long-term investments in sustainable aviation fuel.
Charm and Boeing charting a CO2 removal course
The deal could indicate renewed demand for carbon removal within aviation. 2023 saw a deal for the removal of 400,000 tonnes of CO2 between Occidental (through its subsidiary 1PointFive) and Airbus and there have been others involving carriers but not enough to call this a functioning market.
The addressable market could be massive. Analysts estimate the industry will need at least $60 billion in offsets by 2050 to achieve net-zero emissions targets. For startups like Charm, this creates a lucrative market for carbon removal credits without the need to completely rely on carbon removal credits.
Charm previously sold 112,000 credits to advance market commitment Frontier for roughly $53 million, but the company aims to dramatically cut costs from $470 per ton to around $50 per ton, potentially unlocking broader adoption.
By leveraging Charm’s underground storage approach, Boeing hopes to bridge the gap between current emissions realities and future green fuel adoption. The partnership could provide a fresh signal to the broader aviation industry that one of the best ways to decarbonize should involve more carbon removal.
Read more: Google Makes Bold Investment In Biochar With New Varaha And Charm Partnerships
