View original ↗on charmindustrial.c…
deal · 18 May 2020
Stripe ↔ Charm Industrial
Stripe: a stated intent to buy of 416 t of pumpable biomass to geological storage (bio-oil, slurry) removal from Charm Industrial.
BuyerStripe
SupplierCharm Industrial
Tonnes416 t
Capture pathwayPumpable biomass to geological storage (bio-oil, slurry)
Storage mediumgeological
Commitment typeintent (a memorandum or letter, not a contract)
Deal structureofftake
Transaction evidenceWe’re also excited to announce our first customer for this method: Stripe. Stripe has committed to spending a total of $1m this year across a portfolio of negative emissions projects, and today Stripe has announced that Charm will receive a portion of that to sequester 416 tons CO₂e at $600/ton, using our new bio-oil sequestration method.
Source pathway descriptionbio-oil sequestration. Bio-oil is produced through fast pyrolysis of waste biomass, then transported to an injection well, prepared for injection, and pumped underground.
Storage descriptioninjects it into rock formations that have stored crude oil for hundreds of millions of years; injection wells regulated by the EPA Underground Injection Control Program
Delivery windowWe plan to complete our first injection in the next few months.
NotesPrice stated at $600/ton CO₂e; total contract value not stated, so no monetary amount recorded. Part of Stripe's stated $1m 2020 negative emissions portfolio spend. The page does not say Stripe purchased or agreed to purchase, so commitment is recorded as intent. Related items in sidebar (TD Bank 44,000 tonnes offtake; Frontier $53M offtakes) are separate, later announcements.
Date noteDate corrected to the date the announcement states. Deal Book cleanup 0200
Prior announced date2024-12-03
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