Charm Industrial has signed a ten-year carbon dioxide removal (CDR) agreement with TD Bank, who has purchased 44,000 metric tons of CO2 removal credits to be delivered by Charm from 2029 onward.
The credits will be generated via Charm’s biomass processing operations that convert forest and farming residues into carbon-dense biochar and bio-oil.
The financial injection secured through this partnership will fuel Charm to continue exploring options for expanding its operations into Canada, while simultaneously working on growing its business reach in the United States.
Going forward, Charm Industrial is confident that a portion of the credits to be delivered under the deal with TD Bank will come from the company’s future Canada-based projects.
Approximately 80% of the biomass processed by Charm into biochar and bio-oil delivers durable carbon storage.
Utilizing small, modular pyrolysis units that are deployed directly near biomass sources and CO2 injection sites, Charm has optimized the process of biomass disposal.
Its pyrolysis biomass-processing technology lowers the risk of wildfires, providing a more sustainable approach for handling organic waste material than the conventional method of open-air incineration.
When applied to agricultural land, the biochar product is known to improve soil quality while also trapping in CO2 in the ground for hundreds of years. Bio-oil, on the other hand, locks in CO2 into safe and permanent underground storage.
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After successfully establishing operations in the United States, Charm Industrial is now gearing up for a market debut in Canada, where the company hopes to partner with farmers, helping them address waste biomass and manage the risk from fires.
Commenting on the reasons to consider an expansion into Canada, Charm mentions a number of incentives, such as a supportive government, an abundance of biomass from forests and farms, numerous suitable CO2 storage sites, and motivated and skilled stakeholders.
In a statement, Charm shared,
“We are thrilled to collaborate with TD as we deliver on their operational emission goals and accelerate our expansion into Canada, where we can bring meaningful job creation, plugging and abandonment of oil assets, and wildfire fuel reduction as part of our durable carbon storage approach.”
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