JPMorganChase has agreed to purchase additional carbon removal credits from Charm Industrial, a startup that injects bio-oil underground for permanent storage. The bank is also extending $20 million in venture debt to the company. The deal signals continued corporate investment in carbon removal even as broader market interest may be cooling. Charm Industrial converts biomass into bio-oil and stores it in geological formations. The venture debt gives Charm more runway to scale its operations. The exact volume of carbon removal credits JPMorgan is buying was not disclosed, but the arrangement shows that large financial institutions are still willing to put capital behind durable carbon removal methods. For the carbon removal sector, this deal provides a signal that bank-backed procurement and debt financing remain available. It also raises questions about how scalable bio-oil storage is compared to other methods like direct air capture or enhanced weathering.
