Top 10 Carbon Removal Deals: Microsoft’s 5 M Tonne Pact, 10 Major Offtakes (2024-2026)

An analysis of corporate offtake agreements from 2024 to 2026 reveals a carbon dioxide removal (CDR) market characterized by large-scale, multi-year contracts driven by a handful of major technology companies. Microsoft has cemented its position as the dominant buyer, securing the vast majority of the largest deals across a diverse portfolio of removal pathways, including soil carbon, Bioenergy with Carbon Capture and Storage (BECCS), biochar, and Direct Air Capture (DAC). The company’s procurement of over 12 million tonnes in this period underscores a strategic approach to building a diversified CDR portfolio. The dominant trend for 2025 and early 2026 has been the scaling of biomass and soil-based solutions, which have delivered the largest contract volumes, while more nascent technologies like DAC continue to secure foundational offtake agreements.

1. Microsoft & Unnamed Supplier: 5, 000, 000 Tonnes

Company: Microsoft
Installation Capacity: 5, 000, 000 tonnes
Applications: Carbon Removal Offtake
Source: Scaling the Carbon-Removals Economy

2. Microsoft & Unnamed BECCS Plant: 3, 300, 000 Tonnes

Company: Microsoft
Installation Capacity: 3, 300, 000 tonnes
Applications: BECCS Offtake
Source: Carbon Dioxide Removal Technologies: Market Overview …

3. Microsoft & Indigo Carbon: 2, 850, 000 Tonnes

Company: Microsoft
Installation Capacity: 2, 850, 000 tonnes
Applications: Soil-based Carbon Removal
Source: Indigo to Sell 2.85 Million Tonnes of Carbon Removal …

4. Microsoft & Exomad Green: 1, 240, 000 Tonnes

Company: Microsoft
Installation Capacity: 1, 240, 000 tonnes
Applications: Biochar Carbon Removal
Source: Microsoft back carbon removal as AI threatens its climate …

5. Microsoft & Atmos Clear: approx. 700, 000 Tonnes Annually

Company: Microsoft
Installation Capacity: approx. 700, 000 tonnes annually
Applications: Biomass-based Removal
Source: Emerging Trends for 2026 Voluntary Carbon Markets 2025 …

6. Amazon & 1 Point Five: 250, 000 Tonnes

Company: Amazon
Installation Capacity: 250, 000 tonnes
Applications: DAC Offtake
Source: A Policy Framework for Scaling Up Permanent Carbon …

7. Google & Various Biochar Suppliers: 200, 000 Tonnes

Company: Google
Installation Capacity: 200, 000 tonnes
Applications: Biochar-based Removal
Source: Navigating the Biochar Market: Offtake Agreements …

8. Vaulted Deep & Unnamed Buyers: 162, 000 Tonnes

Company: Vaulted Deep
Installation Capacity: 162, 000 tonnes
Applications: Biochar Removal Offtake
Source: Durable CDR Market 2024: Year in Review & What Comes …

9. Supercritical & Exomad Green: 130, 000 Tonnes

Company: Supercritical
Installation Capacity: 130, 000 tonnes
Applications: Biochar Carbon Removal
Source: Celebrating Biochar CDR on Carbon Removal Day

10. Microsoft & Indigo Ag: 60, 000 Tonnes

Company: Microsoft
Installation Capacity: 60, 000 tonnes
Applications: Soil-based Removal Credits
Source: Microsoft signs record soil carbon removal deal to cut …

Table: Top 10 Corporate CDR Deals (2024-2026)

Carbon Removal Applications, Microsoft’s 4 Diverse Mega-Deals

The diversity of removal pathways in these top deals indicates that corporations are adopting a portfolio strategy rather than betting on a single solution. Microsoft, the market’s principal offtaker, exemplifies this by spreading its investments across high-volume, nature-based methods and high-permanence, engineered ones. The deals include 2.85 million tonnes of soil-based credits from Indigo Carbon and 1.24 million tonnes of biochar from Exomad Green, alongside a massive 3.3 million tonne BECCS agreement. This is complemented by investments in engineered solutions like DAC through partners, such as the 250, 000 tonne agreement between Amazon and 1 Point Five. This trend suggests that buyers are seeking a mix of cost-effectiveness, volume, and durability, signaling that no single technology is ready to meet corporate demand alone.

Global CDR Deals, Exomad Green’s Latin American Biochar

While the primary buyers are US-based technology firms like Microsoft, Amazon, and Google, the supply chain for carbon removal is increasingly global. The data highlights a significant supply hub emerging in the Americas. Microsoft’s agreement with Bolivia-based Exomad Green for over 1.2 million tonnes of biochar is the largest deal of its kind and points to Latin America’s growing role in biomass-based CDR. In North America, US-based suppliers are also prominent, with Indigo Carbon‘s agricultural soil carbon program and 1 Point Five‘s DAC plant in Texas representing major sources of removal credits. This geographic pattern—US corporate demand fueling supply development across North and South America—is a defining feature of the current market.

5 M Tonnes, Microsoft’s Multi-Technology CDR Strategy

The scale of these agreements provides insight into the relative maturity of different CDR technologies. Biochar and soil carbon sequestration are leading in terms of contracted volume, suggesting they are more commercially prepared to scale. Deals with Indigo Carbon, Exomad Green, and Vaulted Deep collectively account for over 4.2 million tonnes, demonstrating strong market confidence in these methodologies. BECCS also shows significant scale with a single 3.3 million tonne deal. In contrast, DAC, while recognized for its high durability, is securing smaller initial offtakes, such as Amazon’s 250, 000-tonne commitment. This indicates DAC is in an earlier phase of commercial scaling, where foundational agreements are crucial for financing first-of-a-kind commercial plants. Microsoft’s engagement across all these categories validates this multi-track maturation process.

Microsoft’s CDR Pause, a Potential 2026 Market Shift?

The single most critical development to monitor in the latter half of 2026 is whether the market’s largest buyers, particularly Microsoft, sustain their aggressive procurement pace. Reports of a purchasing pause could signal a significant inflection point for the still-nascent CDR industry.

• A reported pause in new purchases by Microsoft in April 2026 is a key signal. If this strategic halt is prolonged, it could create a supply overhang and suppress prices, impacting the bankability of new projects that rely on anchor offtake agreements.
• The market’s rapid growth has been overwhelmingly driven by multi-million-tonne deals from a few tech giants. A significant pullback from the market’s primary buyer could slow momentum and cause other potential corporate buyers to hesitate.
• Alternatively, the pause may represent a temporary portfolio review. Watch for a resumption of purchasing later in 2026, which would indicate continued long-term commitment. Any new deals may be more targeted, focusing on specific quality criteria or higher-durability pathways as buyers refine their strategies based on the performance of initial contracts.

Microsoft Dominates 2025 Carbon Removal Market with Massive Purchases
Microsoft purchased 52.35 million metric tons of CO2e in carbon removals in 2025, overwhelmingly dominating the market. This figure is 27 times larger than the second-highest buyer (undisclosed) at 1.89 million metric tons, indicating a highly concentrated market driven by a single tech giant’s aggressive climate commitments.

Market Concentration Highlights Opportunities and Risks for Carbon Removal Scaling
The extreme concentration of purchases by a few large tech and finance players, led by Microsoft, underscores both the nascent stage and the potential fragility of the voluntary carbon removal market. While demonstrating strong corporate climate action, this reliance on a handful of buyers presents market volatility risks and challenges for scaling diverse removal technologies.

Carbon Removal Investment Soars 37X to $3.7bn by H1″26, Driven by DAC
Investment in carbon removal has surged from $0.1 billion in H1’20 to $3.7 billion by H1″26, marking a 37-fold increase. Deal count has similarly exploded, rising from ~10 to 240 over the same period, indicating rapid market expansion and corporate commitment. Direct Air Capture (DAC) consistently dominates capital allocation, with other methods like BiCRS and Ocean-based Carbon Removal showing notable growth.

(Source: 🌎 Pushing the Frontier for carbon removal #301)

The questions your competitors are already asking

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