Peter Schott // pcs2144
(1) Sustainability Problem: Waste // Carbon
In order to curb the effects of climate change, it is essential to phase out fossil fuel use and decarbonize the economy more broadly. Carbon removal is one solution.
(2) Charm Industrial represents a significant change to reduce the cost from $600 to $50/ton CO2e while elimination 10%+ of global CO2e in the process.
- Charm partners with farmers (who grow a lot of crops) that generate biomass waste, converting the left over biomass into “bio-oil”, drilling a well, and pumping the bio-oil underground; this achieves the removal of carbon from the atmosphere “permanently, reliably and potentially on a grand scale”
- This is achieved through a process called “pyrolysis,” (read: organic chemistry) producing hydrogen (that can be used in refineries or to make fertilizer/power vehicles) and “bio-oil”
- The modular Pyrolyzer can be put on the edge of the farm, reducing the need to transport the biomass outside of a local area; this technology has gained attention from Stripe and Microsoft
Source: Meet the startup producing oil to fight climate change, Grist
- Fortune 500 companies and beyond: who are seeking to reduce their environmental impacts as they attempt to offset their corporate emissions through carbon removal opportunities. Stripe and Microsoft to name a few.
- Nonprofits and academic institutions: to provide a third party assessment of the carbon removal projects (e.g, Carbonplan) and potential analysis around the broader carbon removal market.
- Lobbyists/Government: to ensure that Charm Industrial can receive federal tax credits, as only CO2 gas is recognized as a CO2e carbon removal technique.
(4) Design/Implementation/Next Steps:
- Raise capital from existing investors to scale manufacturing capabilities of the Pyrolyzer machine
- Manufacture one machine and dedicate it to launching a pilot on a large-scale farm to collect data and conduct research; use biomass to create bio-oil and measure components on transporation, equipment cost, potential revenue, etc. to forecast the scale-up of the business
- Meet with scientists and clients to share results of the pilot program to collect feedback, with the goal of creating a pitchbook for future investors