CDR Monthly Recap - June 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 huge May, which saw over 3.48 million tonnes contracted, June saw a relative slowdown in market activity, with just over 1.2 million tonnes purchased, including a 1.1 megatonne deal between Microsoft and Hafslund Celsio. Other top deals saw the participation of JPMorgan Chase, 1PointFive, SAP, Climeworks Solutions, Wild Assets, and Deep Sky.

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.

Read on to learn more below!

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Deals and Partnerships

[Image source: Hafslund Celsio]

Deals

Hafslund Celsio signed an offtake agreement with Microsoft for 1.1 million tonnes of CDR from its WtE BECCS project in Norway. The tonnes will be removed from Hafslund Celsio's facility in Oslo, which will be the first-ever retrofit of a waste-to-energy facility to deliver carbon removal. The plant is expected to start capturing CO₂ in autumn 2029.

ByteDance purchased over 100,000 tonnes of carbon credits from Rubicon Carbon. The credits, a mix of nature-based avoidance and removals, were purchased through Rubicon’s flagship carbon credit offering, the Rubicon Carbon Tonne®.

JPMorgan Chase signed an offtake agreement with 1PointFive to purchase 50,000 tonnes of CDR. The credits will be generated from 1PointFive's STRATOS facility in Texas, US, and will be stored through saline sequestration.

SAP signed a multi-year agreement with Climeworks Solutions for 37,000 tonnes of durable CDR, comprising a portfolio of Direct Air Capture, biochar, and Enhanced Weathering credits. As part of the agreement, the tonnes are expected to be delivered by 2034.

Wild Assets signed an offtake agreement with Deep Sky to purchase up to 10,000 tonnes of DAC credits over 7 years. Introducing a pioneering model, the credits from the deal are expected to treated as assets, not just offsets.

Swedish environmental impact platform Milkywire selected 15 CDR suppliers for its Climate Transformation Fund. Three companies were also awarded strategic grants to the fund, supporting early-stage and scalable CDR projects through corporate funding.

Planetary delivered its first verified Alkalinity Enhancement credits under the Isometric Standard. The credits, amounting to 625 tonnes, from its Halifax project were purchased by Stripe, Shopify, and British Airways.

Switzerland launched the transfer of CDR from Norway to Swiss buyers grouped into a coalition as the first Internationally Transferred Mitigation Outcomes (ITMO) pilot through Article 6.2 of the Paris Agreement.

Deep Sky signed a multi-year offtake agreement with carbon credit management firm Rubicon Carbon, becoming the first DAC provider in its portfolio. Deliveries will begin in 2025, while the volume and pricing in the agreement were not disclosed.

UK-based Restord delivered and retired 8.6 tonnes of verified biochar carbon removal credits, part of a larger 50-tonne prepurchase agreement with Bennetts Associates, facilitated under CapChar’s Biochar Carbon Code.

Phlair secured a multi-year DAC credit offtake agreement with Waldegg Equity Partners. The deal is part of Waldegg’s commitment to long-term financing of the removal and permanent storage of its own emissions. The pricing and volume in the deal were not disclosed.

The 4 Corners Carbon Coalition is launching the Community Carbon Removal Purchasing Challenge, aiming to empower U.S. towns, cities, counties, and neighborhoods to procure high-quality CDR credits.

Partnerships

ClimeFi announced plans to provide its corporate buyers access to carbon removal credits from winners and finalists of the XPRIZE carbon removal competition, facilitating investment in innovative, high-quality CDR solutions.

Wise partnered with Opna, committing £500,000 to high-impact CDR projects in climate-vulnerable regions, supporting nature-based and hybrid solutions that enhance sustainability, community resilience, and measurable climate impact.

The Nordic Carbon Removal Association (NCRA) launched to boost CDR in the region. NCRA also unveiled a strategic blueprint, developed in collaboration with Implement Consulting Group, on how the region can scale durable CDR with coordinated action from policymakers and industry.

Pacific Biochar partnered with Isometric to issue its biochar credits. This partnership includes Pacific Biochar’s flagship Humboldt Sawmill project, which has the capacity to remove over 10,000 tonnes of CO₂ from the atmosphere each year.

Nasdaq, in partnership with AirMiners, launched the Nasdaq Carbon Academy, an online course equipping professionals with knowledge on carbon removal markets, credit purchasing, and constructing credible CDR portfolios.

Venture capital firm CapitalT partnered with CUR8 to offset its yearly emissions by investing in a diversified CDR portfolio. CapitalT has also become the first European VC firm to neutralize its annual carbon emissions with CDR.

Puro.earth and CUR8 partnered to give suppliers access to CUR8’s offtake financing product, enabling CDR projects to convert future credit revenues into upfront capital. Puro’s Offtake Reporting tool can check for eligibility for CUR8’s product.

Beyond Captur signed an MoU with Great Carbon Valley to launch Kenya’s first electrochemical DAC pilot, targeting the removal of 1,000 tonnes of CO₂/year, marking the first Korea–Africa partnership in durable CDR.

Projects

[Image source: Deep Sky]

Deep Sky completed construction of Deep Sky Alpha, the world’s first cross-technology carbon removal center, enabling real-world testing of multiple DAC systems and aiming to remove 3,000 tonnes of CO₂ annually in Alberta.

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Financing

[Image source: AirCapture]

Aircapture secured $50 million in Series A funding round led by the Larsen Lam Climate Change Foundation. The investment will enable it to scale operations and accelerate deployment of its modular, revenue-positive DAC systems.

Canadian DAC company Skyrenu secured pre-seed funding from the Quebec government’s Impulsion PME program. The investment round also saw participation CarbonFix fund from the Netherlands.

ReGenEarth launched a £100 million green bond to scale biochar carbon removal across anaerobic digestion and biomass sites in the UK. The bond offers a 12.5% return and supports climate-positive, asset-backed investments.

Arca received $315,000 from Canada-based Mining Innovation Commercialization Accelerator (MICA) to advance its microwave-based Mineral Activation technology, which boosts CO₂ reactivity of mine waste by over 1000x.

Pricing Mismatch in Durable CDR
Explore insights from the Durable CDR Pricing Survey, conducted in partnership with OPIS, to help market participants better understand pricing expectations for durable CDR credits.

Policy

[Image source: Ingo Joseph]

The German government’s 2025 draft federal budget included carbon removal for the first time — marking a symbolic and important milestone toward scaling CDR. Final approval is expected in September.

The Negative Emissions Platform held a successful event in Brussels, uniting policymakers, innovators, and business leaders to improve the enabling environment and secure demand signals and funding for net-zero-aligned carbon removal growth.

RMI convened academic, civil society, and industry stakeholders to issue a joint statement on SBTi’s draft Corporate Net-Zero Standard, advocating for interim CDR targets and emphasizing high-durability, verifiable CDR for residual emissions.

Research and Reports

[Image source: Rubicon Carbon]

Rubicon Carbon launched the Rubicon Rated Tonne, a set of curated carbon credit portfolios for buyers requiring third-party verification. Its first portfolio received an AAport rating from BeZero, signaling a high likelihood of CO2e avoidance or removal.

CDRjobs launched the 2025 CDR Salary Survey with an aim to drive salary transparency to build a fair, equitable, and competitive CDR industry. A free extensive report will be published in a few months, offering insights into salary trends in the sector, using data from the survey.

Isometric launched the Certify Emission Factor Library, providing open-source emission factors to streamline carbon removal project verification, enhance transparency, and ensure compliance with rigorous greenhouse gas accounting standards.

[C]Worthy and CarbonPlan launched the Direct Ocean Removal (DOR) Efficiency Map, a new, model-based dataset and tool to help characterize how well DOR works geographically and across seasons.

Klimate unveiled Carbon Asset Manager (CAM), a software platform designed to help sustainability professionals manage carbon removal portfolios, ensuring traceability, compliance, and streamlined reporting in carbon markets.

Calyx Global made its its carbon credit rating platform public, offering tiered GHG integrity ratings and project-level SDG impact assessments to enhance transparency in carbon markets.

World Resources Institute (WRI) published a report examining marine carbon removal governance in the high seas, highlighting regulatory gaps and the need for comprehensive frameworks to ensure environmental safety and compliance.

Biochar IQ published a South Africa-focused CDR Equipment & Suppliers guide, offering methodologies, standards, and regulatory updates to help farmers, businesses, and landowners achieve verified carbon credits.

Kenya’s Tera became the first African project developer validated on the Riverse registry, enabling issuance of digital biochar carbon credits with MRV-backed integrity and rural development impact.

CEEZER released a practical guide for biochar credit buyers, outlining selection best practices, permanence evaluation, co‑benefits, and quality criteria to help procurement of biochar-based CDR credits.

Deep Sky selected Isometric as the registry for its Deep Sky Alpha project, which will issue verified DAC credits under the Isometric Standard, supporting transparent MRV and tech-agnostic carbon removal deployment.

Carbon Unbound released a new report titled “Carbon Removal’s Next Chapter,” highlighting policy gaps, buyer urgency, and emerging strategies for scaling durable, equitable CDR across sectors.

Novocarbo piloted biochar-infused asphalt roads with Hansa Asphalt in Germany, sequestering 17.5 tonnes of CO₂ on-site by adding 7 tonnes of biochar to the top asphalt layer, while improving road durability.

Isometric released a draft module for Enhanced Weathering in closed engineering systems, enabling precise CO₂ storage measurement and inviting public feedback during a 30-day consultation period.

Carbonfuture released a guide on building carbon removal portfolios, helping organizations balance cost, credibility, and impact while simplifying due diligence and showcasing real-world net-zero strategies from leading buyers.

Carbon Gap released a report outlining how the UK can lead in greenhouse gas removals (GGR) by creating jobs, embedding GGR in policy, and building a thriving compliance market to meet climate goals.

Biochar Europe released the European Biochar Market Report 2024-2025, highlighting sector trends, industry growth, metallurgy’s role, and key actions needed to unlock large-scale deployment.

Carbon Direct published a report in collaboration with McKnight Foundation, providing a data-driven baseline to understand how carbon removal project siting intersects with environmental justice in the US.

Leaderboard Updates - June 2025

Around 1.2 million tonnes of CDR were purchased in June after a stellar May, which saw over 3.48 million tonnes of CDR contracted.

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

Supplier Leaderboard

Purchaser Leaderboard

Events Round-up - June 2025

[Image source: CUR8]

CUR8 hosted the Carbon Removal Summit during London Climate Action Week, bringing together senior voices in business, finance, policy, and science to explore how carbon removals can drive business value in a changing political and economic landscape.

The Nordic Carbon Removal Association (NCRA) held a launch event in Copenhagen with an aim to boost CDR in the region. NCRA also unveiled a strategic blueprint, developed in collaboration with Implement Consulting Group, on how the region can scale durable CDR with coordinated action from policymakers and industry.

The OpenAir Collective held a webinar hosting a panel of expert Brazilian ERW practitioners and scientists, who shared insights into Brazil’s unique natural and policy advantages, emerging project activity, and the opportunity to scale CDR in the region.

Climate Impact X hosted a webinar on practical insights to confidently incorporate biochar into your carbon management strategy. The panel consisted of experts from organizations such as the International Biochar Initiative, Puro.earth, Carboneers, and Swiss Re.

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

CDR.fyi Updates and Research

CDR.fyi Durable CDR Methods Update | June 2025

In June, we released a blog post outlining updates to how we classify durable CDR methods across the CDR.fyi platform. These changes aim to better reflect how projects operate today and improve how we track, analyze, and report activity in the market.
The updated framework clarifies terminology, consolidates overlapping categories, and aligns each method with how carbon is captured and sequestered, enhancing consistency across datasets, reporting, and industry communication. The method update was successfully implemented in June, and we call upon all suppliers in the ecosystem to verify their methods with us.

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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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