Since 2021, durable carbon dioxide removal (CDR) has rocketed from only a handful of suppliers and 0.009 Mt tonnes delivered in 2020, to hundreds of companies testing out dozens of removal methods in the real world, delivering over 0.1Mt and selling 4.5Mt in 2023. It is, to say the least, a growth story.
These carbon removal suppliers are fueled by hundreds of buyers and tens of investors. CDR purchase volume has increased more than 5x every year since 2020. If the current growth trend holds, we will reach the necessary mid-century volumes. Ignition sequence finalized, engines started.
But it’s too early to celebrate. Without a near-term influx of new large buyers, the CDR sector will not leave the launch pad, and without large government interventions CDR will fail to reach escape velocity.
In this 2023 Year in Review, we’ll dive deep into CDR.fyi data to examine what trending on track actually would mean, and explore some key blockers that threaten to knock us off course.
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