Most CDR projects are in the pilot stage, with fewer reaching commercial maturity (see Figure 4). DAC has the highest number of projects overall, although most remain at the pilot stage. Biochar is the most commercially mature pathway, with the largest number of projects at commercial scale. This distribution is mirrored in market dynamics. While biochar collectively accounts for significant removal volumes, its deployment is more distributed across smaller facilities. In contrast, BECCS suppliers such as Ørsted and Stockholm Exergi lead in sales as individual companies, demonstrating the ability of single large-scale facilities to deliver high-volume removals. Meanwhile, DAC suppliers, led by Climeworks and Svante, have attracted the largest investments. As CDR technologies transition from early development to commercialization, assessing their maturity requires the evaluation of three key metrics: –Volume available for purchase: Reflects the production capacity suppliers make accessible to buyers, indicating the pathway’s scalability –Volume sold: Captures buyer commitments, providing insights into demand and market confidence –Volume delivered: Represents credits successfully executed by suppliers, highlighting operational reliability and delivery capabilities Biochar, as a more mature pathway, leads in delivered tonnes of CO2 (as shown in ClimeFi’s marketplace), reflecting its established supply chains, lower production costs and scalability. The sold-to-delivered ratio for biochar suggests higher fulfilment efficiency compared to emerging technologies such as DAC and ERW, which rely more on prepayments to finance scale-up. Emerging pathways, such as DAC, often sell credits in advance due to high capital costs and long project timelines, resulting in a much higher sold-to-delivered ratio (750:1). This underscores the reliance of early-stage CDR solutions on buyer confidence and upfront investment to reach commercial viability (see Figures 5 and 6).CDR distribution (number of projects) across development stage, by CDR pathway FIGURE 4 1,000 800 600 400 200 0 Prototype Pilot Demonstration Commercial scaleDAC BECCS Biochar ERW Source: World Economic Forum DAC often sells credits in advance due to high capital costs, resulting in a sold-to-delivered ratio of 750:1, underscoring its reliance on buyer confidence. Carbon Dioxide Removal Technologies: Market Overview and Offtake 13

Carbon Dioxide Removal Technologies 2026