Boeing has a carbon emissions problem. Startup Charm Industrial is cleaning up.

Boeing has taken a significant step towards reducing its carbon footprint by partnering with the innovative startup, Charm Industrial. This collaboration aims to eliminate 100,000 metric tons of carbon dioxide from the atmosphere, addressing the pressing issue of aviation emissions. Charm Industrial specializes in converting agricultural and forestry waste into a product known as 'bio-oil' through a heating process. This bio-oil, a complex mixture of hydrocarbons, is then injected underground, often into decommissioned oil wells. Once the carbon is sequestered, Charm can sell carbon removal credits to businesses seeking to offset their emissions. This partnership, first reported by Axios, highlights the aviation sector's struggle to make significant strides in reducing carbon emissions. With the aviation industry facing challenges in adopting sustainable fuels, carbon removal has emerged as a viable alternative, potentially offering a more cost-effective solution. A recent study suggests that by 2050, the sector may need to invest at least $60 billion in carbon offsets to achieve net-zero emissions. In addition to carbon removal, Charm also produces biochar, which has the potential to enhance soil productivity when used in agricultural fields, though this application is still in the early stages of development, according to the carbon removal registry Isometric. While the financial specifics of the Boeing-Charm deal remain undisclosed, it’s noteworthy that two years ago, Charm sold 112,000 carbon removal credits to Frontier for $53 million, translating to approximately $470 per metric ton. The startup has expressed its ambition to reduce this cost to around $50 per metric ton in the future.