November 29, 2024
This Week in CDR - Week 48, 2024
We are back with another edition of This Week in CDR, a weekly round-up of some of the top news, developments, and market updates from the world of durable carbon removal.
As the US celebrated Thanksgiving this week, the rest of the world of CDR kept moving, from AXA Switzerland announcing its first durable CDR deals worth 3,750 tonnes, to the Canadian government funding two CDR companies as part of its initiative to decarbonize heavy-emitting industries.
Read on to learn more below!
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Deals and Partnerships
Image source: AXA
Insurance group AXA Switzerland announced the purchase of 1,950 tonnes of CDR from InPlanet and 1,800 tonnes from Neustark respectively. As part of the agreements, the tonnes will be delivered between 2026 and 2030.
Charm Industrial partnered with software company Manufacturo, which will provide a customized process control solution, enabling precise traceability for Charm's carbon ledger through advanced API integration and data management.
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Financing
Image source: Carbon Engineering
As part of a recent announcement by the Canadian government, two CDR companies - Carbon Engineering and Arca were awarded CAD 5 million and CAD 1.8 million respectively, along with 3 other cleantech companies.
Canada-based CDR company Svante secured a CAD 15 million investment from InBC Investment Corp. to scale its operations, including a plant under development with a capacity to capture 10 million tonnes of CO₂ a year.
Opportunities for Suppliers!
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Reports
Image source: RMI
Rocky Mountain Institute (RMI) released a new article breaking down the scale of CDR needed by 2050. It also discusses the significant investments, workforce, and supply chain changes necessary to achieve this scale, compared to other large industries.
Carbon market platform Patch released a report exploring strategies for fostering growth in the carbon credit market while addressing key challenges that must be overcome to ensure the industry’s successful expansion and long-term impact.
German consultancy and project developer biochar zero published a guide on biochar carbon removal (BCR) exploring the basics of biochar along with topics such as pyrolysis, carbon removal credits and energy byproduct utilization.
Poll of the week
In our latest poll, we aim to gauge from our audience which development they are most thankful for when it comes to developing the durable CDR market.
As the US celebrates Thanksgiving, what are you most thankful for in the development of the durable CDR market?
- Microsoft's purchases driving the total volume
- 45Q subsidy for DACCS in the US
- approval of CRCF framework in the EU
- agreement on Article 6.2 & 6.4 at COP 29
Click here to participate in the poll and share your thoughts in the comments.
Disclosure
CDR.fyi is a public benefit corporation operating globally. Some of the company’s contributors have affiliations with companies in the industry, including Milkywire, Charm Industrial, CDRJobs, and DVNE. Data and content published by CDR.fyi, including This Week in CDR, our Monthly Recaps, and our Quarterly Market Updates, are vetted and reviewed by individuals with no conflict of interest.
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