CDR Market Overview

• Global CDR market is different from the traditional carbon removal market
• CDR is a separate ecosystem that is different from traditional forest carbon credit and avoidance credits
  • 500+ suppliers
  • A few hundred companies on demand side
  • Many intermedieries, verifiers
  • MS is 70% of the market, then frontier with other tech companies. Buyers are increasing but on a slow and steady path, but there are not enough big ones. Nobody has matched MSFT in any way really
• Lot of excitement over last few years about the market.
  • Strictly speaking, there are no CO2 emissions that are not entirely avoidable. All emissions could go to zero, but some of them are very expensive
  • CDR really mostly makes net zero transition cheaper and more actionable

Durable CDR

• Solutions that store carbon for multiple centuries
• Biochar
• Forests don’t count yet, as they give back too fast

Methods that use photosynthesis that store it in a durable form

• Biochar
• Bio oil
• Biomass direct storage - Company called Graphite, makes plastic bricks
• BECCS
• Rocks
• DAC - solid, liquid sorbent - 120+ DAC companies
• Direct ocean removal

DAC