Exclusive — Boeing enters carbon-removal deal with startup
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Illustration: Annelise Capossela/Axios
Boeing will purchase up to 100,000 metric tons of carbon removal from Charm Industrial, a startup transforming forest wastes into "bio-oil" stored permanently underground.
Why it matters: It's Charm's first aviation deal amid growing emissions from flight — and an aerospace industry seeking climate solutions that can eventually reach a large scale.
- Terms and timelines weren't disclosed.
How it works: Charm uses biomass from forest management, like thinning to prevent wildfires, that would otherwise be burned and release CO2.
- It's heated to extremely high temperatures in equipment called pyrolyzers to create "bio-oil."
- This liquid is injected underground, including in former oil wells.
- The process produces a second product — biochar — that can help remove CO2 when applied to farmlands to boost soil health.
State of play: The federal focus on climate has waned, but many industrial giants are still seeking to meet long-term pledges.
- Charm CEO Peter Reinhardt also noted other benefits from the company's tech — helping wildfire prevention, avoiding fine particulate pollution, capping orphaned wells, and creating jobs.
- "In terms of the broader community impact, it goes pretty far beyond carbon dioxide," he said in an interview.
The big picture: Aviation is a rising CO2 source, and the industry lacks methods at scale to cut emissions as it looks to 2050 net-zero goals.
- Sustainable aviation fuels are still scarce. Today's carbon removal volumes are a drop in the bucket, too.
- Consider that global energy-related CO2 emissions are an estimated 38 billion tons this year.
What we're watching: Right now, carbon removal is about lowering costs, learning, and moving toward large scale in years and decades ahead.
- Jeff Shockey, a top Boeing strategy official, said in a statement that the aerospace giant is "excited to team up with Charm Industrial to support American innovation in carbon removals."
Catch up quick: Charm's customers include Google, JPMorganChase, and the Frontier corporate consortium.
- Charm raised a $100 million Series B round in 2023 from General Catalyst, Lowercarbon Capital and others.
The bottom line: "By working with Boeing, we get to accelerate a lot of our impact," Reinhardt said.
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