Elon Musk’s foundation sponsored a $100 million XPrize for Carbon Removal, a four-year competition to find ways to remove one billion tons of CO2 from the atmosphere. Instead of a high-tech solution, the winner is a low-tech approach using “enhanced rock weathering” to capture CO2 from the air.
Mati Carbon, a startup based in Houston, has developed a method that involves crushing rocks and spreading them on small farms in India, Zambia, and Tanzania. This increases crop yields while releasing nutrients like calcium and magnesium, making the soil healthier. In India, farmers have seen a 20% increase in yield from using the crushed rocks.
The company’s approach is appealing to the world’s poorest farmers, who are more motivated by economic incentives than environmental concerns. Mati Carbon plans to franchise its model globally, targeting 100 million smallholder farmer families who can benefit from the increased income and carbon removal.
The XPrize helped validate the startup’s approach, which involves tracking CO2 capture through soil samples and selling carbon credits. This method is cheaper than direct air capture and can scale up easily. With $50 million in funding, Mati Carbon aims to speed up natural processes that capture CO2 from the atmosphere and store it for thousands of years.
Source: https://www.fastcompany.com/91321351/this-houston-startup-just-won-50-million-from-elon-musks-x-prize-for-carbon-removal