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🖤 A treat for all BCR aficionados out there! As in previous years, the European Biochar Industry Consortium (EBI) has just released their fantastic market report, which provides a detailed analysis of where BCR is at in Europe.
👉 Tl:dr: BCR production continued to grow significantly in 2023 reaching 49,000t of biochar, or the equivalent to 130Kt of CO2 permanently removed. BCR is on track to deliver 2.3Mt of permanent carbon dioxide removal (hashtag#CDR) by 2030.
Now for those who want more details:
📈 There are now 30 BCR tech providers, many with technology readiness levels (TRL) of 8 to 9, a testament to the maturity of the industry.
🏭 48 BCR production plants were installed and commissioned in 2023 leading to 171 total, and expected to grow to 220 in 2024.
🚀 Biochar production grew by 41% to 49Kt (=130Kt of CDR) with 70Kt (=200Kt CDR) expected for 2024. As a reminder, global CDR deliveries tracked by CDR.fyi were 125Kt
✅ Only 75% of biochar production was certified carbon removal, highlighting the massive opportunity for the other 25% to tap into carbon credit markets to fuel their growth.
🔮 Looking ahead, BCR in the EU alone is expected to deliver 2.3Mt by 2030 (46% of indicative EU target) and 50-80Mt by 2040 (67%-106% of indicative EU target).
📈 The biggest challenge to this growth lies in developing the markets for biochar offtake, with concrete and urban soil markets showing the strongest growth potential.
➡ My take: Europe continues to lead the way on biochar carbon removal. Its industry is modern, scaleable, and delivers more durable carbon removal than any other industry or geography in the world. Coupled with the latest research on permanence (see comments), this bodes well for achieving the EU’s ambitious climate objectives.
📣 A huge shout out to the team at European Biochar Industry Consortium (EBI), and Hansjörg Lerchenmüller in particular, for their relentless efforts in creating this type of analysis and data. It is invaluable in helping us finance and scale the industry.
💬 What are your thoughts? Are you as bullish about BCR in Europe as I am?
🔗 Here is the link to the report: https://lnkd.in/dEQTaMqN
🌐 Sign up here for the two webinars EBI will host to dig into the details of the report:
1️⃣ Today 4-5pm CET: https://lnkd.in/dua8E6Ei
2️⃣ Tomorrow (Thursday) 11am-noon CET: https://lnkd.in/dfbjUKy5
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