For years, biochar sat at the edge of the carbon conversation. Known by specialists. Tested by early adopters. Rarely central to corporate climate plans.

That changed fast.

In the first half of 2025, buyers contracted around 1.6 million tonnes of biochar carbon removal. This single six-month period exceeded all purchases made across 2022 and 2023 combined. Since early 2022, total contracted volumes now exceed 3 million tonnes, according to market data compiled by CDR.fyi and reported by Carbon Herald in September 2025.

One deal explains much of the surge. Microsoft signed a 1.24 million tonne offtake agreement with Exomad Green. That agreement alone made the second quarter of 2025 the largest quarter ever recorded for biochar carbon removal contracting.

Suddenly, biochar was no longer a niche line item. It became a signal.

A closer look shows who is sending it.

A small group of buyers dominates current volumes. Microsoft, Google, Boston Consulting Group, and JPMorgan together account for roughly 57 percent of all contracted biochar carbon removal to date. Microsoft alone represents close to half of the global total.

Financial institutions follow a similar pattern, though with a sharper focus. Swiss Re, Nasdaq, SEB, and Tide Platform rely heavily, and in some cases almost exclusively, on biochar within their carbon removal strategies. Their reasoning is consistent. Durability. Traceability. And the added land and soil benefits tied to real production systems.

This concentration tells an important story. Biochar is not growing everywhere at once. It is growing where confidence exists.

That confidence explains why biochar has become the most widely used carbon removal pathway today.

Since 2022, nearly 300 unique buyers have entered the biochar market. This far exceeds participation in other removal approaches such as enhanced weathering. For many companies, biochar is their first step into durable carbon removal. Supply exists. Methodologies exist. Prices remain comparatively accessible.

Market value reflects this momentum. Estimates show growth from roughly USD 14.6 million in 2022 to more than USD 181 million in 2024.

The trajectory looks clear. The interpretation deserves care.

High volumes do not equal a settled market. A large share of current demand flows from one buyer and one transaction. This is momentum, not diversification. Contracted tonnes also differ from delivered and verified tonnes. Execution risk remains squarely with project developers.

Pricing remains uneven. Regional differences, feedstock choices, system design, and end use pathways all shape outcomes. Co-benefits matter, but they are not uniform. Biochar quality and impact vary widely on the ground.

Seen this way, the data tells a different story.

This looks less like maturity and more like a proof phase. Large buyers test scale and reliability. Smaller buyers observe before committing. Standards, MRV systems, and supply discipline will decide whether this demand holds or stalls.

For the IBI community, this moment matters. Not as a headline. As a checkpoint.

• Are you seeing demand growth beyond a handful of large corporate buyers. From whom.
• How exposed are projects to one or two anchor offtake agreements.
• Where do delays or failures appear between contracting and verified delivery.
• How do buyers assess quality differences across biochar projects today.
• What needs to change for demand to spread beyond a few large actors.

Field experience matters more than press releases. This is where the real market picture takes shape. Please share your experiences with the biochar community!