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Carbonx facilitates over $7M in latest carbon removal procurement rounds

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Published on
12 February 2024

Carbonx facilitates over $7M of Carbon Dioxide Removal (CDR) purchases across six novel pathways (Direct Air Capture, Mineralisation, Enhanced Rock Weathering, Ocean CDR, Bio-Oil, Biochar and other Biomass Carbon Removal and Storage), in its latest procurement rounds. The total number of tonnes committed is over 26,000tCO₂e, representing an average price of $269 per tonne across the various permanent carbon removal portfolios. The purchases were made in conjunction with a variety of Carbonx clients who are pursuing ambitious environmental strategies and are at the forefront of scaling the CDR ecosystem.

Projects retained in those purchasing rounds have met our rigorous quality assessment requirements and undergone extensive technical and commercial due diligence. Carbonx will announce the specific project collaboration over the coming weeks.

Beyond those purchases, Carbonx will also ensure the continuous monitoring of the CDR portfolios and project developments to manage underlying risks, including credit issuance delays and non-delivery risks, during the lifetime of its clients' commitments.

Key Statistics from our Purchases

Hereafter, we share some statistics and data points from our purchasing rounds, including the breakdown in removal pathways, delivery years, development stage and CO₂ storage methods of the CDR projects retained. As an organisation, we aim to remain flexible in how we look to allocate resources in the CDR market. The next decade will be instrumental in identifying which removal technologies/pathways and projects yield the most effective carbon removals and prove to work on a large scale to tackle the world's residual emissions.

The growing variety of CDR solutions available makes it increasingly attractive for Buyers to pursue a portfolio approach by diversifying their CDR credit suppliers across a number removal pathways, delivery vintages, and commercial terms based on their particular objectives and requirements. Technologies have very different types of benefits and risks, and having a portfolio approach enables Buyers to maximize their chances of working with leading projects, while building a strong strategy and narrative to limit risk exposure. Additionally, the nature of the CDR market encourages Buyers to think strategically about a structured procurement approach, as opposed to opportunistic purchases.

Our purchases have been well diversified across six removal pathways, with Biochar and more generally Biomass CDR taking the lion share of the commitments given their more established track record and increasing available supply compared to other pathways. Enhanced weathering has also seen growing interest, as projects are paving the way for a highly scalable and global CDR approach.

Carbon Removal

A review of the project's development stages reveals that a majority has already transitioned to operational status or achieved commercial deployment, while a few of them had only operated at the pilot stage. This reflects the variety of buyers' needs and objectives regarding their CDR strategy.

The majority of our commitment adheres to an offtake structure, with payments contingent upon successful delivery. Another part of the commitments incorporates a prepayment component, primarily targeted towards CDR methods requiring additional operational assistance during deployment.

"The CDR market offers a breath of very exciting and promising carbon removal projects. The growth in the number of projects emerging, building track records and hitting critical technological, operational or regulatory milestones over the past 12 months has been staggering and very encouraging for the next phase of growth in the CDR market."

- Sébastien Dewarrat, Head CDR

"We are privileged to be working with forward thinking clients, that are looking to have an impact while demanding the highest level of integrity to projects. This will be instrumental in ensuring a sustainable development of CDR market in the future, and we are thrilled to share similar values with our clients."

- Thomas Bellec, Head of Carbon Solutions

Join Us for our Next Purchases

If you are interested in becoming a Buyer through Carbonx or joining some of our next purchase cycles, please contact us at

If you are a carbon removal supplier in the pre-commercial or deployment stage and meet our Standards Criteria, please contact us at