JPMorganChase expands Charm Industrial partnership with $20 million facility, 61,500-ton carbon removal commitment
Charm Industrial has expanded its strategic relationship with JPMorganChase through a new agreement that includes ...
JPMorganChase expands Charm Industrial partnership with $20 million facility, 61,500-ton carbon removal commitment
Charm Industrial has expanded its strategic relationship with JPMorganChase through a new agreement that includes the purchase of 61,500 tons of carbon dioxide removal (CDR) credits over multiple years and a separate $20 million venture debt facility.
The latest purchase builds on JPMorganChase’s previous commitment to purchase 28,500 tons of carbon removal credits announced in 2023, bringing the financial institution’s total purchases from Charm Industrial to 90,000 metric tons of carbon dioxide equivalent (mtCO₂e).
Scaling permanent carbon removal:
The new offtake agreement reflects Charm’s ability to deliver verified and permanent carbon removals at scale. The company removes carbon through two pathways: injecting carbon-rich bio-oil into permitted underground storage wells for geological sequestration and applying biochar to agricultural land for long-term carbon storage.
The 61,500 tons covered by the agreement are additional to all previously announced volumes.
$20 million facility to expand Colorado operations:
Separately, JPMorganChase is providing a $20 million venture debt facility to support the expansion of Charm’s operations in Colorado and increase its capacity to process forest residues generated by wildfire mitigation projects.
The funding will be used to expand pyrolysis and injection operations in Colorado, building on the company’s Fort Lupton facility and existing biomass-to-carbon-storage operations.
Converting wildfire risk into carbon storage:
Charm plans to significantly scale the processing of wildfire fuel reduction materials from the Rocky Mountains, converting biomass that could otherwise contribute to catastrophic wildfires into feedstock for permanent underground carbon storage.
The company also plans to continue supporting economic development in Colorado through job creation in rural communities and workforce development programs aimed at increasing the number of pyrolyzer operators in the state.
According to Charm, the financing reflects growing institutional confidence in its Colorado operations and its approach to addressing wildfire risk while delivering permanent carbon removal.
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