TD Bank to Acquire 44,000 Tonnes of Carbon Removal from Charm Industrial Over 10 Years
TD Bank has announced a carbon removal agreement with Charm Industrial to acquire 44,000 tonnes of carbon removal over the next decade, beginning in 2029. Charm Industrial, which specializes in converting agricultural residues into bio-oil and biochar for sequestration, plans to expand its operations in Canada, supported by government initiatives aimed at enhancing carbon removal solutions.
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TD Bank has entered a carbon removal deal with Charm Industrial, purchasing 44,000 tonnes of carbon removal over 10 years starting in 2029. Charm Industrial, based in California, has been operational since 2021, focusing on bio-oil production and sequestration.
The company converts agricultural residue and biomass into bio-oil through pyrolysis, which is then stored underground. In 2025, Charm expanded to include biochar as a carbon removal method. The carbon removals for TD Bank will include both bio-oil sequestration and biochar technologies. Additionally, Charm plans to explore new operations in Canada, supported by the Canadian government’s initiatives for durable carbon removal solutions, which include innovation investments and public procurement for carbon dioxide removal.
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