Charm Industrial Secures $53 Million in Contracts for Carbon Removal

Charm Industrial has secured a $53m contract with Frontier, a public benefit company owned by Stripe, to remove 112,000 tons of carbon dioxide between 2024 and 2030 on behalf of Frontier member companies. Charm will convert excess organic material, such as corn stover, into bio-oil and inject it into abandoned oil wells for permanent storage. The deal is the first of its kind for Frontier and is exponentially larger than previous agreements. Charm's ability to deliver results was the reason for its selection. The company's bio-oil sequestration method is expected to be one of the cheapest and most scalable ways of permanently removing carbon from the atmosphere.