Boeing has entered into an agreement with the startup Charm Industrial to extract 100,000 metric tons of carbon dioxide from the air.
Charm gathers leftover materials from agriculture and forestry, then applies heat to transform them into what it refers to as “bio-oil”—a complex mixture of hydrocarbons. This substance is then injected underground, often into depleted oil wells. After the carbon is stored, Charm is able to offer carbon removal credits to other businesses. Axios was the first to reveal the details of Boeing’s arrangement with the startup.
The aviation sector has struggled to significantly reduce its carbon footprint, prompting companies to look for new solutions. Carbon removal is gaining attention as it could be a more affordable option compared to switching to sustainable aviation fuels.
Research indicates that by 2050, airlines may need to allocate at least $60 billion toward carbon offsets to achieve net zero emissions.
Charm is also capable of making biochar, a material that can enhance soil fertility when spread on farmland, though according to the carbon removal registry Isometric, these initiatives are still at an early stage.
The financial specifics of the agreement have not been made public. Two years prior, Charm provided 112,000 carbon removal credits to Frontier, an advanced market commitment, for $53 million—equating to roughly $470 per metric ton. The company has stated its goal is to lower the price to around $50 per metric ton.
