Frontier facilitates $53M in offtake agreement for Charm Industrial’s CO2 capture

In California, Frontier has facilitated its first set of offtake agreements with Charm Industrial, totaling $53 million. Frontier buyers will pay Charm to remove 112,000 tons of CO₂ from the atmosphere and store them permanently underground between 2024 and 2030. Buyers will pay a price per ton that will decline by at least 37% between 2024 and 2030, and could decline by as much as 75% based on Charm’s current scaling plans and the potential for expanded government incentives. The price accounts for both the removal itself as well as measuring, reporting, and verifying (MRV) that each ton is safely stored and accounted for according to a rigorous protocol.

Charm collects waste biomass that’s left over from agricultural harvests or forest fire management, and heats it to a very high temperature in an oxygen-deprived environment—a process known as pyrolysis. The resulting bio-oil is then injected into EPA-regulated wells, where it sinks and solidifies permanently. Pyrolyzers are small and modular, moving from farm to farm on the back of a truck bed, minimizing the need to transport the raw biomass. Beginning operations in 2021, Charm Industrial was one of the first companies to successfully remove carbon from the atmosphere permanently and today leads the market, having delivered 6,160 tons to date via pilot processes.