Boeing’s Carbon Problem: How Charm Industrial Is Cleaning Up
▼ Summary
– Boeing has signed a deal with Charm Industrial to remove 100,000 metric tons of carbon from the atmosphere.
– Charm converts agricultural and forestry waste into bio-oil through heating and injects it underground for carbon sequestration.
– Aviation companies are turning to carbon removal as a cost-effective alternative to sustainable fuels due to slow emission reduction progress.
– A study projects the aviation industry will need to spend at least $60 billion on carbon offsets by 2050 to achieve net zero emissions.
– Charm previously sold carbon credits for about $470 per metric ton but aims to reduce the cost to approximately $50 per metric ton.
In a significant move to address its environmental footprint, Boeing has partnered with Charm Industrial to eliminate 100,000 metric tons of atmospheric carbon. This collaboration highlights the aviation giant’s push toward sustainability through innovative carbon removal technologies. Charm’s approach involves gathering leftover agricultural and forestry materials, which are then heated to create a dense hydrocarbon mixture known as bio-oil. This substance is pumped deep underground, often into depleted oil reservoirs, where it remains securely stored. For every ton of carbon sequestered, Charm generates a carbon removal credit, which companies like Boeing can purchase to offset their emissions.
The aviation sector continues to struggle with reducing its carbon output directly, making carbon removal an appealing alternative. Shifting entirely to sustainable aviation fuels involves considerable expense and infrastructure challenges, so investing in carbon offsets presents a more immediate and potentially cost-effective pathway. Research indicates that by 2050, the industry may need to allocate no less than $60 billion toward carbon offsets to achieve net-zero emissions targets.
Beyond producing bio-oil, Charm is also developing biochar, a carbon-rich material that can enhance soil fertility when applied to farmland. These agricultural applications are still in early stages, as noted in reports from carbon removal registry Isometric. While financial specifics of the Boeing agreement remain confidential, Charm’s previous sale of 112,000 carbon removal credits to Frontier for $53 million provides some context, averaging around $470 per metric ton. The company has publicly stated its goal to drastically reduce this cost, aiming for approximately $50 per metric ton to make carbon removal more accessible on a larger scale.
(Source: TechCrunch)
