Boeing has partnered with startup Charm Industrial to eliminate 100,000 metric tons of carbon from the atmosphere. Charm Industrial specializes in collecting agricultural and forestry waste, converting it into ‘bio-oil’ through a heat-based process, and then storing it underground, including in former oil wells. This bio-oil is a mixture of hydrocarbons that can be utilized for carbon removal credits, which the startup can sell to various companies.
The aviation industry faces challenges in reducing its carbon footprint, and carbon removal technologies like the one offered by Charm Industrial have gained traction as cost-effective alternatives to sustainable aviation fuels. A study projected that by 2050, the aviation sector would need to invest around $60 billion in carbon offsets to achieve net zero emissions.
Aside from bio-oil, Charm Industrial also produces biochar, a material that shows promise in enhancing soil productivity when applied to agricultural fields. Although the application of biochar is still in its early stages, the potential benefits are significant, according to data from the carbon removal registry Isometric.
While the financial details of the collaboration remain undisclosed, Charm Industrial previously sold 112,000 carbon removal credits to Frontier for $53 million, aiming to reduce the cost per metric ton to approximately $50. The partnership between Boeing and Charm Industrial exemplifies a step towards sustainable aviation practices through innovative carbon removal solutions.
Source: TechCrunch