😲 Q2 2024 - A historic quarter for Carbon Dioxide Removal (hashtag#CDR) 😲

☀️ CDR.fyi’s latest report is here to bring your good news of the day.☀

💪 After a record Q1, Q2 went even further, marking the strongest both in terms of purchases and deliveries, while highlighting the continued leadership of a single buyer: Microsoft.

HERE ARE SOME TOP HIGHLIGHTS FOR YOU:

💰 Purchases skyrocketed to 4.8Mt in Q2, a 46% increase from the previous record in Q2 2023 (3.28Mt) and more in a single quarter than all of 2023 (4.5Mt).

💚 Bioenergy with Carbon Capture and Storage (hashtag#BECCS) is dominating purchases at 90%, followed by Biochar Carbon Removal (hashtag#BCR) at 4.5% and Biomass Direct Storage at 3%.

📦 Deliveries also saw a historic high at 90Kt, a 42% increase from the previous record in Q4 2023 (63Kt). Which also means that at 140Kt 2024 has almost reached deliveries of all of 2023 (145Kt).

🪨 99% (!!!) of all deliveries came from BCR, up from 91% in Q1 2024, and 87% for 2023.

🏅 The market is largely Microsoft today, accounting for 91% of purchases in Q2 and 75% of all purchases to date.

🇩🇰 🇸🇪 The Nordics - or better Denmark and Sweden - are becoming the power houses of CDR, accounting for >90% of all sales in Q2 and 63% of all sales to date.

✅ Overall, the picture that emerges is clear: the market keeps growing and biomass based removals keep dominating. I am particularly excited by the growth in deliveries: that is our climate impact today!

👉 CDR.fyi released a summary blog here: https://lnkd.in/gwXTfvvY

🔎 I highly recommend the 30 page, detailed report limited to Data Partners and Paid Subscribers. It has a wealth of information and analysis that goes way beyond the blog. Get in touch at partners@cdr.fyi for access.

👏 Shout out to Alexander Rink, Kevin Niparko, Ifeoluwa Daranijo, Roden Sherpa, Nadine Walsh, Robert Höglund, and Tank Chen for their tireless work. They have moved from annual, to biannual, and now to quarterly cadence to bring you all you need by pulling together these amazing insights into the CDR market.

💬 What is your take? How are you interpreting this data and where do you think we are heading in 2024?

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