Mati Carbon, a company operating on farms in India, has won the XPrize Carbon Removal, a $50 million award that will help scale its ambitious goal of removing 100 million metric tons of CO2 from the atmosphere by 2040. The prize recognizes Mati’s innovative technology using enhanced rock weathering to provide a scalable carbon removal practice while improving soil health and supporting farmers in the Global South.
Enhanced rock weathering involves pulverizing volcanic rock, which is then applied to fields of partnered smallholder farmers. When this rock interacts with water and CO2, it breaks down, releasing bicarbonate that stays in the water and eventually drains into rivers, aquifers, or oceans, where it can be stored for millennia.
This technology not only durably removes carbon dioxide but also releases essential nutrients, benefiting vulnerable farmers affected by climate change. Mati plans to replicate its “bases” – serving 5-10,000 farmers each – across the planet, with a focus on scaling up to remove gigatons of carbon annually.
The XPrize award marks a significant milestone for Mati Carbon, which aims to empower 100 million farmers by 2040. The company’s CEO and chief science officer believe their technology has far-reaching potential, providing hope and direction for a more sustainable future. With this prize, Mati Carbon is poised to accelerate its mission, leveraging grants and philanthropy to scale up its operations and make a lasting impact on the fight against climate change.
Source: https://time.com/7279701/xprize-winner-mati-carbon-interview