CDR Activity Summary Feb 10, 2026

January's capital raising picked up a little after the dramatic drop in December 2025, with two high-value equity-only deals worth roughly $35M - up from $25M in December. No debt or grant transactions were recorded during the month.

Investments showed a balance between engineered (Marine CDR) and nature-based pathways (Soil), in contrast to December 2025's engineering-based focus.

Offtake activity expanded, with eight agreements securing around 5 Mt of removals. Microsoft’s landmark contracts with three project developers across Soil-based removals, BiCRS, and Af/reforestation accounted for most of the volume.

On the credit side, issuances remained muted at about 0.28M tonnes, overwhelmingly from Soil-based removal projects, while retirements fell to roughly 0.36M tonnes, driven by nature-based solutions such as Af/Reforestation and soil‑based removals. Retirements were less regionally diverse than in previous months, predominantly spanning Africa.

On the project front, Microsoft invested heavily in carbon removals with offtake deals spanning Af/Reforestation with Rubicon, BiCRS with Varaha, and Soil-based removal with Indigo AG, totaling 4.95M tonnes of CO2 removals.

Equitable Earth announces $14.6M investment deal from a consortium of investors to accelerate the certification of nature-based carbon credits. Gigablue has announced an equity investment of $20M with Planet Ocean Capital to accelerate Marine CDR.