Carbon removal company Charm has signed a long-term offtake agreement with TD Bank covering more than 44,000 tonnes of carbon removals over a ten-year period, beginning in 2029. The agreement includes bio-oil sequestration and biochar-based carbon removal credits, with a portion expected to be sourced from future Canadian operations.
The partnership supports Charm’s plans to expand beyond the US as it scales modular pyrolysis technology that converts excess biomass into durable carbon storage. TD Bank will use the credits to address a share of its operational emissions.
Charm said Canada presents a strategic opportunity due to growing wildfire risks, abundant forest and agricultural biomass, and increasing government support for durable carbon dioxide removal. Record wildfire seasons, including 18.5 million hectares burned in 2023, have intensified concerns over air quality and public health, as smoke and fine particulate pollution spread across North America and beyond.
Excess forest biomass is often removed through pile burning, a practice that generates significant PM2.5 pollution. Charm’s pyrolysis process is designed to reduce these emissions by processing residues instead of burning them, while producing carbon-rich outputs for long-term storage or soil application.
The company’s decentralised approach uses small, modular units located close to biomass sources, reducing transport emissions and enabling deployment in both forested and agricultural regions. Charm is also assessing opportunities in Alberta, where inactive and orphaned oil and gas wells could be repurposed for permanent underground bio-oil storage.
Canadian federal initiatives aimed at wildfire resilience, agricultural sustainability and carbon removal market development are expected to support early deployment. Charm said its planned expansion could create new revenue streams for farmers, reduce wildfire fuel loads and contribute to long-term climate mitigation while supporting rural economies.
