What is bio-oil, and why does Big Tech think it can fight climate change?

A pile of dry plant material in the foreground with a Charm Industrial truck behind it
Waste that Charm Industrial turns into bio-oil | Image: Charm Industrial

Some of the biggest names in tech have inked a deal to turn corn stalks and tree trimmings into a barbecue sauce ingredient and then pump the stuff underground to try to fight climate change.

That sounds wild, so let’s break it down from the start. Alphabet, Meta, Stripe, Shopify, and McKinsey Sustainability launched a new climate initiative called Frontier about a year ago. The goal is to boost new technologies capable of sucking carbon dioxide out of the atmosphere by convincing other companies to buy into them.

Today, a San Francisco-based climate tech startup called Charm Industrial announced that Frontier’s founding members and a smattering of other companies have agreed to pay Charm a total of $53 million to capture and store…

Continue reading…