Klimate.co And Charm Industrial Extend Partnership With $1.1M Off-Take Agreement

Klimate.co And Charm Industrial Extend Partnership With $1.1M Off-Take Agreement - Carbon Herald

Klimate.co – an integrated platform for high-quality carbon removal strategy and action, and Charm Industrial – a climate technology company that converts biomass into a stable, carbon-rich liquid and sequesters it underground for permanent carbon removal, announced an extension of their partnership. They also signed a $1.1 million off-take agreement to successfully scale high-quality carbon removals. 

“Through the expansion of our partnership with Charm Industrial, Klimate.co’s customers help facilitate the upcoming delivery of nearly 1900 tons of permanent carbon dioxide removal (CDR),” commented Simon Bager, Co-Founder and Chief Impact Officer at Klimate.co in a Linkedin post. 

According to the announcement, Klimate.co and Charm’s initial collaboration started in 2021, when the company made its first permanent carbon removal deliveries. So far, Charm Industrial  has managed to deliver over 6,200 tons of CO2 removals including an announced in 2021 delivery of 1,400 tons CO2e of carbon sequestration to Stripe and Shopify, 2,000 tons CO2e to Microsoft, and an aggregate 1,900 tons CO2e to other buyers. 

Relevant: Charm Marks A Carbon Removal Milestone – 5,000 Tons Of CO2 Equivalent Delivered

Back in June 2023, the company also announced the successful closure of a Series A financing round amounting to $100 million. Another milestone in 2023 is the record breaking deal with Frontier and JPMorgan Chase to permanently remove an additional 140,000 tons of atmospheric carbon dioxide via bio-oil sequestration.

“In alignment with our shared commitment to addressing climate change, Klimate.co and Charm Industrial recognise the imperative to scale removal capacities to megaton levels in the next decade to stay within the 2-degree limit. Together with Klimate’s clients, I look forward to working closely with Charm’s team to further advance and scale carbon removal initiatives,” adds Mr Bager.

Relevant: Charm Industrial Raises $100M In Series B To Ramp Up Bio-Oil Sequestration

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