Nori Carbon Removal Newsroom pocast with Myles Gray
Hello everyone, Myles Gray here from the US Biochar Initiative (USBI). Recently, I had the pleasure of being interviewed by the team at Nori on their Carbon Removal Newsroom podcast. [https://nori.com/podcast-episodes/myles-gray-us-biochar-initiative-2023-global-market-report ] In this article, I’ll highlight some of the key messages from that interview and share our optimistic outlook on the future of biochar.
The Current State of Biochar
Biochar has been making significant strides, representing 94% of durable carbon removal deliveries in 2023. This growth is a testament to its robust technology and wide accessibility. At USBI and through collaborations with the International Biochar Initiative, we’ve been closely monitoring and fostering this progress.
Key Insights from Our Report - Biochar is “Shovel Ready”
One of the highlights from our recent survey, supported by over 1,000 respondents, paints a picture of global and regional biochar production. Our aim was to understand how many tons of CO2 are being removed annually through biochar and what drives this growth. The data revealed that biochar is not only technologically ready but also competitively priced, with credits ranging from $150 to $225 per ton of CO2 for commercially produced biochar. This makes it a compelling option compared to other carbon removal technologies.
^^ Find this podcast on all major platforms, on the Nori website, and at this YouTube link.
Addressing Industry Challenges
Despite its growth, the biochar industry faces challenges that need to be addressed to reach its full potential. One significant hurdle is the monetization of co-benefits. Biochar production offers various revenue streams, including carbon credits, physical biochar sales, energy production, and waste management solutions. Developing high-quality products that incorporate biochar, such as fertilizers and concrete additives, is crucial. Additionally, engaging large corporations to distribute these products and establish robust product lines can significantly enhance market demand.
Establishing high-quality standards for biochar is another critical step. We are working towards developing an American National Standard for biochar, based on ANSI certified laboratory standards and protocols, which will increase trust and facilitate broader adoption. Continued funding and implementation of research and development projects, particularly those focusing on the economic viability of biochar in different markets, are essential for sustained growth.
Looking Ahead
Looking forward, I see a promising future for biochar. I anticipate more sophisticated business models, increased policy support, and high-profile partnerships between biochar companies and large corporations, particularly in areas like sustainable aviation fuel production. The support from government incentives for farmers using biochar is also expected to rise, further driving the industry's growth.
Innovating New Markets is the Way!
I will wrap this up by saying again, biochar stands out for its technological readiness, economic viability, and diverse co-benefits. By focusing on innovative business models and high-quality product development, we can propel the biochar industry to new heights, making a significant impact on global carbon removal efforts.
Thank you for being part of this journey with us at USBI. Together, we can make a difference in carbon removal and sustainability.
Myles Gray
Program Director
US Biochar Initiative
USBI is a 501(c)(3) not-for-profit organization that has been at the forefront of promoting responsible biochar production and utilization since 2009. We represent a concerted effort by our network of scientists, researchers, educators, producers, and practitioners, to highlight the potential of biochar in addressing agricultural and environmental challenges while contributing to global efforts to combat climate change.