Latest news with #XPRIZECarbonRemoval
Business Times
15-06-2025
- Business
- Business Times
From policy to pilots: Apac's growing influence in carbon removal
Carbon dioxide removal (CDR) – a diverse set of pathways that pull carbon from the atmosphere – is gaining traction as a critical climate tool alongside reduction of emissions. But beyond environmental benefits, it's also emerging as an economic opportunity: creating jobs, attracting investment, and delivering community-level impact. As carbon removal moves from research to real-world deployment, the Asia-Pacific (Apac) region has the opportunity to lead. Momentum in the region is building through bold corporate commitments, enabling policies, and partnerships. In just the past few months, India's Mati Carbon secured US$50 million through the XPRIZE Carbon Removal; Japan's Mizuho joined the NextGen CDR portfolio to aggregate long-term demand; Japanese trading company Sojitz Corporation deployed capital into CDR markets in the US; and Mitsui O.S.K. Lines signed a deal with Climeworks to scale removals. Events like Ecosperity Week and the inaugural APAC CDR Summit in Singapore further underscore the rising regional focus. As more companies and governments make early bets on CDR, Apac is positioned to shape how the global carbon removal market evolves. With diverse ecosystems, corporate leadership, and supportive policy frameworks, Apac has the building blocks needed to lead. By coordinating across sectors and borders, the region can not only scale climate solutions but also define credible, investable markets that generate long-term economic value. Corporate demand is catalysing market confidence A recent Boston Consulting Group report found that Asia is well-positioned to lead carbon credit origination – particularly for nature- and bio-based pathways – due to its ecological diversity and availability of agricultural by-products. A NEWSLETTER FOR YOU Friday, 12.30 pm ESG Insights An exclusive weekly report on the latest environmental, social and governance issues. Sign Up Sign Up This makes the region attractive to companies looking to invest in high-quality carbon credits, and is driving the early demand needed to scale CDR. An increasing number of corporations in Apac are stepping up. Japan's Mizuho recently joined the NextGen CDR portfolio, developed by South Pole and Mitsubishi Corporation, to pool long-term demand and catalyse investment. Mitsui O.S.K. Lines, a leading Japanese shipping firm, was an early participant in NextGen and has since purchased 55,000 tons of carbon removal, including a recent agreement with Climeworks to remove 13,400 tons of CO2 by 2030. As South Pole recently shared: 'Companies see value in securing high-quality removal credits now – not only to hedge against future compliance costs, but also to demonstrate environmental leadership.' This wave of corporate activity is helping position Apac as a proving ground for climate credibility and commercial viability. India's supply engine is also gaining traction. CDR startups like Varaha, Alt Carbon, and Mati Carbon have secured pilot deals with buyers like Google, Frontier, and Mitsubishi – evidence that corporates aren't just participating in the CDR market, but actively shaping it. Mati's recent XPRIZE win will help scale its enhanced rock weathering operations, which store carbon and support farmer livelihoods, an example of carbon removal as a rural economic driver. Cross-border partnerships are creating a regional ecosystem As national frameworks take shape, cross-border collaboration is accelerating. In Japan, a consortium including Mitsubishi, ENEOS, and Tokio Marine has teamed up with Canada's MaRS Discovery District to launch a buyer education platform that aims to reduce early market risk and encourage CDR credit purchases. Japan's Joint Credit Mechanism (JCM) is also advancing international cooperation with countries like India. By allowing Japan to count verified reductions from partner nations toward its own climate goals, JCM is creating incentives that align local development with global impact, and could evolve to accommodate international CDR credits. These efforts help build confidence in the market and expand the economic opportunity across the region. Regionally tailored Innovation is gaining ground Rather than taking a one-size-fits-all approach, carbon removal efforts in Apac are tailored to local conditions and resources. In India and Australia, farmers are turning agricultural waste into biochar, a substance that stores carbon, improves soil health, and creates new revenue streams for farmers. Researchers in South-east Asia, including at Nanyang Technological University, are piloting enhanced rock weathering, to accelerate natural carbon sequestration that happens through rocks. Singapore and New Zealand are advancing ocean-based solutions through pilot facilities and field trials, while Japan is exploring the role of bioenergy power plants. Direct Air Capture research is also expanding across the region. To ensure these efforts are credible and transparent, local monitoring, reporting and verification systems are starting to emerge. These tailored approaches are laying the foundation for carbon removal solutions that align with local development goals, support livelihoods, and unlock long-term value. Apac can help define carbon removal's next chapter To support and spotlight this regional momentum, the Carbon Business Council and co-hosted the APAC CDR Summit in Singapore – convening government, corporate, and research leaders to elevate credible innovation and accelerate market growth. The goal: build high-integrity CDR markets that are coordinated, transparent, and scalable. That won't happen on its own. But the early signals from Apac are encouraging. With sustained investment, enabling policy, and deeper cross-sector collaboration, the region can help define what credible, scalable carbon removal looks like – and play a leading role in shaping its global future. Ben Rubin is executive director, Carbon Business Council, and Alvin Lee is head of supply,
Indian Express
24-04-2025
- Business
- Indian Express
Mati Carbon, winner of $50million XPRIZE, has been helping smallholder farmers leading fight against climate change
Mati Carbon, an Indian-led climate initiative has secured the $50 million grand prize in the XPRIZE Carbon Removal competition, outshining over 1,300 teams from 112 countries. Their model seems simple, but is quite complex. Mati Carbon uses an Enhanced Rock Weathering (ERW) model, which captures carbon dioxide (CO2) while boosting crop yields for smallholder farmers. This offers a rare synergy of environmental and social impact. Mati operates in India, Tanzania, and Zambia, and has partnered with over 16,000 farmers since 2022. They aim to reach 30,000 by year-end, with a bold vision to impact 100 million by 2045. As India grapples with climate-induced agricultural stress and a nascent carbon market, scaling this solution faces formidable hurdles. In an exclusive interview with The Indian Express, Shantanu Agarwal, Mati Carbon's founder and CEO, and Jake Jordan, chief science officer, outlined their mission. 'This XPRIZE win validates our science and commitment to smallholder farmers who bear the brunt of climate change,' Agarwal said. 'But scaling in India, with its fragmented landholdings and uneven infrastructure, is a massive challenge.' How enhanced rock weathering works Mati's ERW process involves spreading pulverised basalt—a volcanic rock—on farmlands, accelerating a natural weathering process that captures atmospheric CO2 and stores it as bicarbonate in groundwater and oceans for over 10,000 years. 'The process forms a weak acid from rainwater and CO2, breaking down the rock faster than natural weathering,' Jordan explained. 'It's like dissolving powdered sugar versus a sugar cube.' The basalt also releases nutrients, enhances soil fertility and results in healthier crops and better yield. The rigorous Monitoring, Reporting, and Verification (MRV) framework, developed with IIT Kanpur, Yale University, and the University of Sheffield, ensures precise carbon quantification, earning trust from buyers like Shopify, Stripe, and H&M. Empowering India's smallholder farmers Smallholder farmers, cultivating 47 per cent of India's farmland, are uniquely vulnerable to climate change. The 2024 Monsoon Report by the India Meteorological Department noted eight per cent above-average rainfall, yet flooding and crop losses disproportionately affected smallholders. Mati's model addresses this by improving soil health and incomes. Agarwal shared the story of a Chhattisgarh farmer with two acres whose rice yield surged from 2,500 to 3,500 kilos—a 70 per cent increase—after basalt application. 'He paid off debts because it's free. We deliver and spread the basalt; he farms as usual,' Agarwal said. Mati targets climate-vulnerable regions like northern Chhattisgarh, Madhya Pradesh, and Jharkhand, often hours from airports. 'We focus on small farmers in backward areas,' Agarwal explained. 'We analyse crop types, soil compatibility, and basalt composition to ensure viability.' The Deccan Traps' vast basalt supply—capable of removing all anthropogenic CO2 with just one per cent of its reserves—makes India an ideal hub. Mati piggybacks on existing rock-crushing for construction, minimizing environmental impact. Farmers also report a 65 per cent reduction in pesticide use, as nutrient-rich soils yield healthier, disease-resistant crops. 'It's like humans eating vitamins for better immunity,' Agarwal said. 'Healthy plants don't get sick.' This organic, nature-driven approach aligns with India's push for sustainable agriculture under the National Mission for Sustainable Agriculture. Scaling challenges: Trust, logistics, and markets Mati's ambition to reach 100 million farmers by 2045 is daunting. 'Farmers dependent on a few acres are risk-averse,' Agarwal noted. 'Explaining that we remove invisible CO2 for distant buyers sounds dubious.' Mati overcomes this through demonstration: trials in the first season, 10-20 per cent adoption in the second, and overwhelming demand by the third. 'They see yield increases and lower pesticide needs with their own eyes,' he said. Logistics in remote areas pose another hurdle. Transporting basalt to villages and training farmers across India's diverse agro-climatic zones is costly. Mati's proprietary platform, matiC, uses AI to streamline operations, from farmer engagement to carbon verification, but scaling to millions requires more. 'Our tech stack enables farmer-entrepreneur partners to deliver our model regionally,' Agarwal said, emphasizing a franchise-like approach to achieve the 'unreasonable' 100-million-farmer goal. The carbon market, where Mati sells credits to fund its free basalt applications, is another challenge. Currently priced at $300-$400 per ton, credits are bought by net-zero-focused firms like Shopify, Stripe, and H&M. 'These buyers support our scaling to hit $100 per ton in five to seven years,' Agarwal said. However, India's carbon market is nascent, with prices volatile ($10-$30/ton globally in 2024, per the World Bank). Convincing Indian unicorns to buy removal credits as part of corporate social responsibility (CSR) requires education. 'Indian companies with net-zero goals should include removal in their portfolios to mitigate past emissions,' Agarwal urged. The role of Government Mati has garnered local support from district magistrates, agriculture officers, and Krishi Vigyan Kendras (KVKs). 'They love our technology and collaborate closely,' Agarwal said. Studies with government universities, like IIT Kanpur, provide years of data to prove ERW's efficacy. Yet, national-level adoption could unlock greater impact. 'Subsidies for basalt transport or carbon credit incentives would accelerate scaling,' Agarwal suggested, aligning with India's net-zero-by-2070 goal. Jordan emphasized ERW's fit for India's agriculture-heavy economy. 'Governments serve farmers, a key constituency. Our yield increases and climate benefits are a strong match for national priorities,' he said. However, policy inertia and the need for extensive proof points slow progress. 'We're building scientific momentum with Indian research to convince policymakers,' Agarwal said. A broader climate context Mati's focus on removal doesn't negate the need for emissions reduction. 'We need both,' Jordan stressed. 'Reduction stops new CO2; removal balances unavoidable emissions, like agriculture's residual CO2.' India, the world's third-largest emitter, relies heavily on coal, complicating its net-zero path. Mati's ERW, with its permanence, offers a robust tool, but it's not a panacea. The Global South's degraded soils make it ideal for ERW, unlike chemically optimized farms in the US. 'Skeptics in the West question small farms' scalability, but their yield gains drive adoption,' Jordan said. This economic incentive positions India as a leader in inclusive climate solutions. Looking ahead Mati's XPRIZE win and $50 million prize provide a springboard to scale its smallholder-focused model, sustained by carbon credit sales. Its partnerships with IIT Kanpur, Yale, and the University of Sheffield ensure scientific rigor, while local collaborations amplify reach. Yet, success hinges on overcoming logistical, market, and policy barriers. As India navigates climate change and food security for 1.4 billion people, Mati's model—rooted in nature and farmer empowerment—offers a blueprint. Whether it can scale to 100 million farmers remains a test of innovation, collaboration, and political will. 'For us, the farmer is the only stakeholder,' Agarwal concluded. 'If we help them, society helps us back.'
Indian Express
23-04-2025
- Business
- Indian Express
Mati Carbon's XPRIZE triumph: Helping smallholder farmers leading the fight against climate change
Mati Carbon, an Indian-led climate initiative has secured the $50 million grand prize in the XPRIZE Carbon Removal competition, outshining over 1,300 teams from 112 countries. Their model seems simple, but is quite complex. They use an Enhanced Rock Weathering (ERW) model, which captures carbon dioxide (CO2) while boosting crop yields for smallholder farmers. This offers a rare synergy of environmental and social impact. Mati operates in India, Tanzania, and Zambia, and has partnered with over 16,000 farmers since 2022. They aim to reach 30,000 by year-end, with a bold vision to impact 100 million by 2045. As India grapples with climate-induced agricultural stress and a nascent carbon market, scaling this solution faces formidable hurdles. In an exclusive interview with The Indian Express, Shantanu Agarwal, Mati Carbon's founder and CEO, and Jake Jordan, chief science officer, outlined their mission. 'This XPRIZE win validates our science and commitment to smallholder farmers who bear the brunt of climate change,' Agarwal said. 'But scaling in India, with its fragmented landholdings and uneven infrastructure, is a massive challenge.' The science of enhanced rock weathering Mati's ERW process involves spreading pulverised basalt—a volcanic rock—on farmlands, accelerating a natural weathering process that captures atmospheric CO2 and stores it as bicarbonate in groundwater and oceans for over 10,000 years. 'The process forms a weak acid from rainwater and CO2, breaking down the rock faster than natural weathering,' Jordan explained. 'It's like dissolving powdered sugar versus a sugar cube.' The basalt also releases nutrients, enhances soil fertility and results in healthier crops and better yield. The rigorous Monitoring, Reporting, and Verification (MRV) framework, developed with IIT Kanpur, Yale University, and the University of Sheffield, ensures precise carbon quantification, earning trust from buyers like Shopify, Stripe, and H&M. Empowering India's smallholder farmers Smallholder farmers, cultivating 47 per cent of India's farmland, are uniquely vulnerable to climate change. The 2024 Monsoon Report by the India Meteorological Department noted eight per cent above-average rainfall, yet flooding and crop losses disproportionately affected smallholders. Mati's model addresses this by improving soil health and incomes. Agarwal shared the story of a Chhattisgarh farmer with two acres whose rice yield surged from 2,500 to 3,500 kilos—a 70 per cent increase—after basalt application. 'He paid off debts because it's free. We deliver and spread the basalt; he farms as usual,' Agarwal said. Mati targets climate-vulnerable regions like northern Chhattisgarh, Madhya Pradesh, and Jharkhand, often hours from airports. 'We focus on small farmers in backward areas,' Agarwal explained. 'We analyze crop types, soil compatibility, and basalt composition to ensure viability.' The Deccan Traps' vast basalt supply—capable of removing all anthropogenic CO2 with just one per cent of its reserves—makes India an ideal hub. Mati piggybacks on existing rock-crushing for construction, minimizing environmental impact. Farmers also report a 65 per cent reduction in pesticide use, as nutrient-rich soils yield healthier, disease-resistant crops. 'It's like humans eating vitamins for better immunity,' Agarwal said. 'Healthy plants don't get sick.' This organic, nature-driven approach aligns with India's push for sustainable agriculture under the National Mission for Sustainable Agriculture. Scaling challenges: Trust, logistics, and markets Mati's ambition to reach 100 million farmers by 2045 is daunting. 'Farmers dependent on a few acres are risk-averse,' Agarwal noted. 'Explaining that we remove invisible CO2 for distant buyers sounds dubious.' Mati overcomes this through demonstration: trials in the first season, 10-20 per cent adoption in the second, and overwhelming demand by the third. 'They see yield increases and lower pesticide needs with their own eyes,' he said. Logistics in remote areas pose another hurdle. Transporting basalt to villages and training farmers across India's diverse agro-climatic zones is costly. Mati's proprietary platform, matiC, uses AI to streamline operations, from farmer engagement to carbon verification, but scaling to millions requires more. 'Our tech stack enables farmer-entrepreneur partners to deliver our model regionally,' Agarwal said, emphasizing a franchise-like approach to achieve the 'unreasonable' 100-million-farmer goal. The carbon market, where Mati sells credits to fund its free basalt applications, is another challenge. Currently priced at $300-$400 per ton, credits are bought by net-zero-focused firms like Shopify, Stripe, and H&M. 'These buyers support our scaling to hit $100 per ton in five to seven years,' Agarwal said. However, India's carbon market is nascent, with prices volatile ($10-$30/ton globally in 2024, per the World Bank). Convincing Indian unicorns to buy removal credits as part of corporate social responsibility (CSR) requires education. 'Indian companies with net-zero goals should include removal in their portfolios to mitigate past emissions,' Agarwal urged. The role of Government Mati has garnered local support from district magistrates, agriculture officers, and Krishi Vigyan Kendras (KVKs). 'They love our technology and collaborate closely,' Agarwal said. Studies with government universities, like IIT Kanpur, provide years of data to prove ERW's efficacy. Yet, national-level adoption could unlock greater impact. 'Subsidies for basalt transport or carbon credit incentives would accelerate scaling,' Agarwal suggested, aligning with India's net-zero-by-2070 goal. Jordan emphasized ERW's fit for India's agriculture-heavy economy. 'Governments serve farmers, a key constituency. Our yield increases and climate benefits are a strong match for national priorities,' he said. However, policy inertia and the need for extensive proof points slow progress. 'We're building scientific momentum with Indian research to convince policymakers,' Agarwal said. A broader climate context Mati's focus on removal doesn't negate the need for emissions reduction. 'We need both,' Jordan stressed. 'Reduction stops new CO2; removal balances unavoidable emissions, like agriculture's residual CO2.' India, the world's third-largest emitter, relies heavily on coal, complicating its net-zero path. Mati's ERW, with its permanence, offers a robust tool, but it's not a panacea. The Global South's degraded soils make it ideal for ERW, unlike chemically optimized farms in the US. 'Skeptics in the West question small farms' scalability, but their yield gains drive adoption,' Jordan said. This economic incentive positions India as a leader in inclusive climate solutions. Looking ahead Mati's XPRIZE win and $50 million prize provide a springboard to scale its smallholder-focused model, sustained by carbon credit sales. Its partnerships with IIT Kanpur, Yale, and the University of Sheffield ensure scientific rigor, while local collaborations amplify reach. Yet, success hinges on overcoming logistical, market, and policy barriers. As India navigates climate change and food security for 1.4 billion people, Mati's model—rooted in nature and farmer empowerment—offers a blueprint. Whether it can scale to 100 million farmers remains a test of innovation, collaboration, and political will. 'For us, the farmer is the only stakeholder,' Agarwal concluded. 'If we help them, society helps us back.'
Time of India
23-04-2025
- Science
- Time of India
$50 million prize funded by Musk foundation goes to Indian carbon-capture company
Washington: An Indian company that spreads crushed rock on farmers' fields to help draw climate-warming carbon dioxide from the atmosphere has been awarded a $50 million grand prize in a global competition funded by Elon Musk 's foundation. Mati Carbon was among more than 1,300 teams from 88 countries that participated in the four-year XPRIZE Carbon Removal competition, launched in 2021 to encourage deployment of carbon-removal technologies. Many scientists believe removing carbon is crucial in the fight against global warming, caused by the burning of fossil fuels like gasoline, coal and oil, which release carbon dioxide. "It's important that we not promote carbon dioxide removal as a replacement for emissions reduction," said Michael Leitch, the technical lead for the competition. "But the race is really on both to dramatically reduce our existing emissions (and) also ... deploy carbon dioxide removal solutions at very, very large scales globally." The prize is being awarded at a time when Musk and his Department of Government Efficiency are making steep cuts to federal funding and staff at the National Oceanic and Atmospheric Administration, the National Weather Service and other science-based agencies that carry out important climate research. The Trump administration has also moved to roll back myriad environmental regulations, including some that regulate carbon emissions. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Salaried Employees In MAHARASHTRA Get ₹2 Crore Life Cover at Just ₹876/Month Best Term Insurance! Click Here Undo While the Musk Foundation sponsored XPRIZE Carbon Removal, which distributed a total of $100 million, it is not formally affiliated with the California-based organization, XPRIZE officials said. XPRIZE runs other contests to try to solve societal challenges. Executive director Nikki Batchelor said the organisation is considering more climate-related competitions addressing such issues as removal of the potent greenhouse gas methane, reforestation and climate adaptation and resilience. Live Events Mati Carbon CEO Shantanu Agarwal believes his company's relatively low-cost approach "has a potential to really solve some planetary scale problems" while helping small farmers who often bear the brunt of climate change, as extreme weather events like drought and floods destroy crops. The method, called enhanced rock weathering, is fairly straightforward, said Jake Jordan, the company's chief science officer: When it rains, water and carbon dioxide mix in the atmosphere, forming carbonic acid, which falls on rock and eventually breaks it down into small bits of silica. The carbonic acid is converted to a mineral called bicarbonate, which cannot re-gas to the atmosphere and eventually is washed to the ocean, where it is stored for about 10,000 years. Mati Carbon spreads already-crushed basalt rock - plentiful in many parts of the world - on the fields "to speed up something that happens anyway," Jordan said. The crushed rock also releases nutrients that help regenerate soils and increase productivity. Smaller prizes were awarded in the competition's final year to several other teams that also successfully removed 1,000 tons of carbon dioxide, a threshold that demonstrates an ability to scale up to remove gigatons in the coming decades. That included $15 million to runner-up NetZero, which turns crop residues such as coffee husks into biochar, charcoal-like particles that can be used on fields to help store carbon in soils while also improving nutrient and water retention. Other projects involved storing organic waste deep underground, enhancing oceans' ability to store carbon and removing carbon directly from the air. Scientists have been exploring the gamut of so-called geoengineering solutions to climate change, from drying the upper atmosphere to pumping minerals into the ocean to absorb carbon. Rick Spinrad, former administrator at NOAA, called the finalists' solutions "scientifically extraordinary concepts" and said the best approach to reducing carbon probably will be a combination of technologies. Leitch, from XPRIZE, said some solutions that did not win - including direct air and direct ocean capture of carbon dioxide - might have an advantage when deployed on a large scale. "It takes a lot of time and money to build, so I think time will tell," Leitch said. (AP) ZH ZH ZH
San Francisco Chronicle
23-04-2025
- Business
- San Francisco Chronicle
$50 million prize funded by Musk foundation goes to Indian carbon-capture company
An Indian company that spreads crushed rock on farmers' fields to help draw climate-warming carbon dioxide from the atmosphere has been awarded a $50 million grand prize in a global competition funded by Elon Musk's foundation. Mati Carbon was among more than 1,300 teams from 88 countries that participated in the four-year XPRIZE Carbon Removal competition, launched in 2021 to encourage deployment of carbon-removal technologies. Many scientists believe removing carbon is crucial in the fight against global warming, caused by the burning of fossil fuels like gasoline, coal and oil, which release carbon dioxide. 'It's important that we not promote carbon dioxide removal as a replacement for emissions reduction,' said Michael Leitch, the technical lead for the competition. 'But the race is really on both to dramatically reduce our existing emissions (and) also ... deploy carbon dioxide removal solutions at very, very large scales globally.' The prize is being awarded at a time when Musk and his Department of Government Efficiency are making steep cuts to federal funding and staff at the National Oceanic and Atmospheric Administration, the National Weather Service and other science-based agencies that carry out important climate research. The Trump administration has also moved to roll back myriad environmental regulations, including some that regulate carbon emissions. While the Musk Foundation sponsored XPRIZE Carbon Removal, which distributed a total of $100 million, it is not formally affiliated with the California-based organization, XPRIZE officials said. XPRIZE runs other contests to try to solve societal challenges. Executive director Nikki Batchelor said the organization is considering more climate-related competitions addressing such issues as removal of the potent greenhouse gas methane, reforestation and climate adaptation and resilience. Mati Carbon CEO Shantanu Agarwal believes his company's relatively low-cost approach 'has a potential to really solve some planetary scale problems' while helping small farmers who often bear the brunt of climate change, as extreme weather events like drought and floods destroy crops. The method, called enhanced rock weathering, is fairly straightforward, said Jake Jordan, the company's chief science officer: When it rains, water and carbon dioxide mix in the atmosphere, forming carbonic acid, which falls on rock and eventually breaks it down into small bits of silica. The carbonic acid is converted to a mineral called bicarbonate, which cannot re-gas to the atmosphere and eventually is washed to the ocean, where it is stored for about 10,000 years. Mati Carbon spreads already-crushed basalt rock — plentiful in many parts of the world — on the fields 'to speed up something that happens anyway,' Jordan said. The crushed rock also releases nutrients that help regenerate soils and increase productivity. Smaller prizes were awarded in the competition's final year to several other teams that also successfully removed 1,000 tons of carbon dioxide, a threshold that demonstrates an ability to scale up to remove gigatons in the coming decades. That included $15 million to runner-up NetZero, which turns crop residues such as coffee husks into biochar, charcoal-like particles that can be used on fields to help store carbon in soils while also improving nutrient and water retention. Other projects involved storing organic waste deep underground, enhancing oceans' ability to store carbon and removing carbon directly from the air. Scientists have been exploring the gamut of so-called geoengineering solutions to climate change, from drying the upper atmosphere to pumping minerals into the ocean to absorb carbon. Rick Spinrad, former administrator at NOAA, called the finalists' solutions 'scientifically extraordinary concepts' and said the best approach to reducing carbon probably will be a combination of technologies. Leitch, from XPRIZE, said some solutions that did not win — including direct air and direct ocean capture of carbon dioxide — might have an advantage when deployed on a large scale.
