JPMorganChase Expands Charm Industrial CDR Deal With 61,500 Ton Purchase and $20 Million Debt Facility
carbonherald.comJPMorganChase has deepened its partnership with Charm Industrial through a new carbon dioxide removal (CDR) deal and a $20 million venture debt facility. The bank is purchasing 61,500 tons of carbon removal credits from Charm, bringing their total contracted volume to 90,000 metric tons of CO2 equivalent. This is one of the largest bilateral offtakes for bio-oil carbon removal in the sector. The deal supports Charm's operations in Colorado, including pyrolysis and injection work at its Fort Lupton facility. The company specializes in permanent carbon removal through bio-oil injection and biochar, using forest residues from wildfire mitigation projects. The debt financing will help Charm scale its commercial growth and create jobs for pyrolyzer operators in rural Colorado. This partnership shows how large financial institutions are moving beyond pilot purchases into larger, repeat CDR contracts with debt financing. It also highlights the growing role of bio-oil injection as a durable carbon removal method tied to real forestry waste streams.