Charm Industrial has raised $100m in Series B funding in a raise led by General Catalyst.
General Catalyst’s CEO and Managing Director Hemant Taneja will join the company’s board alongside Ryan Panchadsaram from John Doerr’s office.
Lowercarbon, Exor Ventures, Kinnevik, Thrive Capital and Elad Gil also invested as part of the round, according to a blog post.
The company will use the new funding to accelerate its carbon removal deliveries. After deploying increasingly advanced pilot processes in 2021 and 2022, the company began ramping up in 2023. Its primary focus is expanding bio-oil production and transport capacity, and since the beginning of the year it has increased tons of carbon removal delivered per week 5x.
Continued acceleration requires ramping up our operations in Colorado and the broader corn belt, and expanding our lone pyrolyzer into a continent-wide fleet of tens of thousands of pyrolyzers. The future of carbon removal will be a massive investment in the heartland of America. Each Charm pyrolyzer will produce bio-oil for sequestration and improve the soil with biochar.
