CDR Monthly Recap - December 2025

We are back with another edition of the CDR Monthly Recap, a monthly round-up of some of the top news, developments, and market updates from the world of durable carbon removal.

After a relatively slow November that saw around 268,000 tonnes contracted, December was a huge month in the durable CDR market, with over 4.4 million tonnes contracted, led by deals that saw participation from C2X, Microsoft, Alcom, Ecogaia, Emisiones Neutras, Altitude, NULIFE Greentech, InPlanet and Frontier.

New projects, partnerships, and large funding opportunities, as well as announcements, continue to drive momentum for the industry ahead, alongside various events in the field.

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Deals and Partnerships

[Image source: C2X]

Deals

C2X signed an agreement with Microsoft for 3.6 million tonnes, making it one of the largest durable carbon removal deals to date. The credits will be generated from C2X's Beaver Lake project in Louisiana and delivered over 12 years.

Altitude signed an agreement to purchase 360,000 tonnes of CDR from Alcom, a carbon project developer from Singapore. The credits will be generated from Alcom's biochar-based CDR facilities in the Philippines and India.

Altitude purchased 165,000 tonnes of CDR from biochar facilities in Argentina operated by EcoGaia and Emisiones Neutras. One of its largest deals, Altitude has also purchased credits from facilities in West Africa and Southeast Asia.

NULIFE GreenTech signed an offtake agreement with Frontier to remove 122,000 tonnes of CO₂, in a deal worth $44.2 million. As per the agreement, the tonnes will be removed between 2026 and 2030.

ClimeFi facilitated an 85,000‑tonne procurement round of $18 million across eight methods from suppliers Andes, BioCirc, Carboneers, CREW Carbon, DeepSky, Exomad Green, Graphyte, InPlanet, O.C.O. Technology, and Vaulted Deep.

InPlanet signed an agreement with Microsoft for 28,900 tonnes of carbon removal through its silicate-based Enhanced Weathering method in Brazil. The credits will be issued under Isometric’s Enhanced Weathering protocol.

Ebb Carbon signed a prepurchase agreement with Google for 3,500 tonnes of CDR. The agreement follows its recent partnership with the Saudi Water Authority to launch the world’s first desalination decarbonisation project.

Lithos Carbon was issued 5,160 registry-certified tonnes of carbon removal, marking the largest enhanced weathering issuance to date, generated through partnerships with farmers in North Carolina, Wisconsin, Pennsylvania, Maryland, and Michigan.

Partnerships

ClimeFi and Adyen announced a dual‑track RFP, allocating Adyen’s 2025 climate budget to durable carbon removal purchases and innovation grants, and have invited global project submissions.

Planet Savers and Australian Carbon Vault signed an MoU to integrate DAC with onshore CO₂ storage in South Australia, aiming to establish a pilot project and generate verifiable, durable CDR credits.

Mitsui O.S.K. Lines (MOL) and Isometric entered a strategic partnership under which Isometric will issue carbon removal credits, supporting MOL’s net zero strategy and advancing shipping sector decarbonization.

Deep Sky signed a framework agreement with the W8banaki Nation to collaboratively develop carbon removal projects in Québec, integrating collaboration with indigenous leadership in the territory.

Deep Sky partnered with Sumitomo Mitsui Banking Corporation to accelerate DAC and CDR deployment in Japan through project financing, development support, and cross-border collaboration frameworks.

Hamburg-based DAC company DACMA and Deep Sky signed a long-term agreement to co-develop DAC facilities in Canada, beginning with a DACMA unit at a Deep Sky facility with a capacity of 600 tonnes/year and targeting large-scale facilities by 2027.

Terraset partnered with Commons to launch a tax-deductible donation model channeling philanthropic capital into vetted CDR portfolios, enabling individuals to support high-impact projects while accessing charitable tax benefits.

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Projects

[Image source: Deep Sky]

Canadian project developer Deep Sky successfully injected CO₂ at its Thetford Mines site, using Skyrenu’s DAC pilot. This marks Quebec’s first permanent removal of captured CO₂ and geological injection below the Earth’s surface.

Onnu and ReGenEarth partnered to launch a waste-to-energy facility at Hope Farm in Sedgefield, integrating Onnu’s CarboFlow pyrolysis technology. Once fully operational, the project is expected to remove 4,300 tonnes of CO₂e per year.

Holcim and 44.01 have launched a pilot project in Fujairah, UAE, the first of its kind to mineralize CO₂ captured from the cement industry. The project aims to capture 5 tonnes of CO₂ per day.

44.01 announced the scale-up of its CO₂ mineralisation project in the UAE, by injecting 20 tonnes of CO₂ per day with its upgraded injection system, representing a tenfold increase from its XPRIZE-winning project.

Climeworks inaugurated its DAC Innovation Center, the world’s largest facility of its kind, to accelerate testing of next-generation DAC technologies, improve cost curves, and support rapid scale-up of modular direct air capture systems worldwide.

Regenerative agriculture startup CarbonZero.Eco unveiled its first commercial biochar plant in Colusa County, California and has signed its first major carbon credit deal with Climeworks, although no volume has been disclosed.

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Financing

[Image source: Limenet]

Italian Alkalinity Enhancement company Limenet closed a €7 million investment round led by CDP Venture Capital and Fassa Bortolo Industria, which operates in the lime production sector.

CDR company Carba raised $6 million in a seed round, led by Rusheen Capital Management and Canopy Generations Fund. The funding will accelerate Carba’s technology, commercial development, and its expansion into the Asia-Pacific region.

Black Bull Biochar secured £4 million in late seed funding round to expand its operations. The round was co-led by TSP Ventures and the Greater Manchester Combined Authority Investment Fund.

Paebbl secured €4 million ($4.7 million) in grant funding from the European Innovation Council’s Pathfinder program, to develop an alternative binder to magnesium-based silicates in concrete to turn it into a carbon sink.

Heirloom secured investments from the Development Bank of Japan and Chiyoda Corporation, strengthening its financial and technical foundation for scaling its limestone-based direct air capture (DAC) technology.

The Africa Carbon Removal Accelerator (ACRA) program announced that it has opened applications for its second cohort, a program designed to support CDR startups in sub-Saharan Africa.

As part of its end-of-year announcement, Carbonfuture announced that it closed its Series A2 funding round, led by existing investor SIX, along with participation from Idemitsu America Holdings.

Pricing Mismatch in Durable CDR
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Research and Reports

[Image source: Puro.earth]

Puro.earth launched the Puro dMRV Connect API, enabling streamlined data integration, automated reporting, and improved interoperability between project systems and the Puro marketplace for carbon removal.

CDRJobs published its 2025 CDR Salary Report, detailing compensation trends and workforce insights across the carbon removal sector. Some of the key findings point towards a dip in median salary as well as decrease in remote positions in the industry.

Carbon Gap published a paper on the origin and role of like-for-like carbon removal in net-zero strategies, while also examining challenges posed by its implementation and recommending best practices to get it recognized in legislation.

Puro.earth received approval from the Integrity Council for he Voluntary Carbon Market (ICVCM) as an eligible carbon crediting programme, strengthening its market recognition and enabling broader participation in high-integrity carbon removal.

Everest Carbon released a free simulation software for assessing credit quality in Enhanced Weathering, enabling stakeholders to evaluate uncertainties and their impact on credit outcomes.

CO2RE published a comparative analysis of EU CRCF, ICVCM, and Article 6.4 standards, highlighting alignment gaps in additionality, baselines, leakage, and permanence for durable carbon removal.

Pembina Institute released a report exploring awareness of CDR technologies among 247 Canadian organizations, finding 67% of them have planned CDR purchases by 2026, while 88% have remained unengaged.

CO₂RE and ERM published a report with updated cost estimates for Greenhouse Gas Removals (GGRs) methods - noting higher costs than in 2021, driven by transport, storage, MRV burdens.

Leaderboard Updates - December 2025

Over 4.4 million tonnes of durable CDR were purchased in December, following a November that saw around 268,000 tonnes contracted.

Listed below are the December leaderboards for top suppliers and purchasers:

Supplier Leaderboard

Purchaser Leaderboard

Events Round-up - December 2025

[Image source: DeCarbon Tokyo/CMT Events]

DeCarbon Tokyo 2025 was held in December, bringing together policymakers, corporates, financiers, and innovators in Tokyo to examine Japan’s evolving carbon market architecture, GX Emissions Trading Scheme, and linkages with EU ETS, China ETS, and Asia-Pacific initiatives.

Carbon Removal India Alliance (CRIA) convened CO₂ Forward 2025, bringing together stakeholders to advance durable CDR dialogue and ecosystem action in India.

We hosted a webinar with the Open Standard Carbon Removal Purchase Agreement (OSCAR) team, walking through the contract's structure, including key terms and standardized clauses, risk-sharing mechanisms, and implications for long-term project financing and scale-up.

Carbonfuture held a webinar on the current state of biochar and durable carbon removal in Latin America, which featured a panel of leading developers, CDR standards and regional experts.

Rewind hosted a webinar led by CDR industry experts with an aim to explain buyer perspectives on building a balanced CDR portfolio and understanding critical implementation challenges.

Check out the CDR Events Calendar to stay updated with upcoming CDR events!

CDR.fyi Updates and Research

Announcing the 2025 Durable CDR Pricing Survey — Understanding Pricing, Value, and Opportunities

For the second year running, CDR.fyi and OPIS, a Dow Jones Company, launched the 2025 Durable CDR Pricing Survey to capture the real-world perspectives of buyers and suppliers on pricing expectations, value drivers, and structural barriers to market participation.

Survey respondents will receive a complimentary copy of the full report with aggregated insights from across the market, plus exclusive access to a respondent-only webinar hosted by CDR.fyi and OPIS to review the results.

For further information, kindly contact us at team@cdr.fyi.

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Disclosure

CDR.fyi is a public benefit corporation operating globally. The company has numerous contributors, some of whom have affiliations with companies in the industry, including Milkywire, Charm Industrial, CDRJobs, DVNE and ETH. Data and content published by CDR.fyi, including This Week in CDR, this Monthly Update, and our Quarterly Market Updates, are vetted and reviewed by CDR.fyi representatives with no conflict of interest.

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