The partnership marks a significant milestone in the growing demand for carbon removal credits (CORCs) and biochar-based solutions. Altitude has signed an agreement with Empacar S.A. to purchase more than 305,000 tonnes of CORCs from facilities in Bolivia. This deal adds to the already substantial portfolio of CDR offtakes managed by Altitude, further solidifying its position as a leading player in the carbon removal market.
The biochar plant by Empacar in Bolivia is supported by global biochar consultancy Bioflux, with the credits being issued under the Puro methodology. This partnership demonstrates the growing recognition of biochar as a scalable and verifiable carbon removal solution that offers both climate and community benefits. By investing in this project, Altitude is supporting the development of local industrial activity and supply chains in Bolivia.
In addition to creating new economic opportunities, participation in international carbon markets introduces additional revenue streams for regional operators, which can lead to further infrastructure investment. This partnership highlights the importance of collaboration between companies, governments, and local communities in achieving global climate targets.
With this purchase, Altitude becomes the world's first commercial CDR buyer to reach over 1 million tonnes of CDRs financed. This achievement underscores the growing momentum for biochar as a carbon removal solution that is gaining traction globally. The company has already signaled its intention to expand beyond 1.5 million t CDRs soon.
The partnership also builds on Altitude's financing of +360,000t CDRs in Southeast Asia, further demonstrating its commitment to the development of large-scale CDR projects. This growth is expected to have a significant impact on the global carbon removal market, providing new opportunities for investors and companies looking to reduce their carbon footprint.
Empacar, the Bolivian industrial company behind the biochar plant, is part of one of Bolivia's most important business groups, with investments across various sectors. This partnership highlights the growing importance of South America as a region with significant CDR potential to reach global climate targets. The country's institutional and economic fabric is deeply intertwined with its business groups.
The success of this project demonstrates the potential for biochar-based solutions to support both climate action and local community development. As the demand for carbon removal credits continues to grow, companies like Altitude are playing a crucial role in supporting the development of large-scale CDR projects. This partnership is a testament to the importance of collaboration and investment in achieving global climate targets.
The milestone reached by Altitude marks an important step towards achieving global carbon removal targets. As the world continues to grapple with the challenges of climate change, innovative solutions like biochar-based carbon removal credits are becoming increasingly crucial. The success of this project will likely have a significant impact on the development of large-scale CDR projects in the region.
Looking ahead, it is clear that companies like Altitude and Empacar will play a critical role in supporting the growth of the global CDR market. As investors and policymakers continue to seek out innovative solutions to reduce carbon emissions, the partnership between these two companies is likely to have far-reaching implications for the industry.
