Startup using rocks on farmland to reduce CO2

Five Second Summary:

Eion, a startup employing enhanced rock weathering (ERW) using olivine, has removed around 50 tons of CO2 from the atmosphere in eight months of commercial operation, validating its approach to carbon removal.

Companies:

• Eion

• Stripe Climate

• Sibelco

What's Happening:

• Eion, through its enhanced rock weathering (ERW) technique using olivine, has successfully removed approximately 50 tons of CO2 from the atmosphere in commercial tests on farms in Mississippi and Illinois.

• These tests mark the initial deliveries of a 500-ton purchase by Stripe Climate.

• Eion focuses on refining monitoring, reporting, and verification techniques (MRV) crucial for ensuring effective CO2 removal.

• ERW, is pushing for olivine as a substitute for agricultural lime, a soil additive

Numbers + Facts:

• Olivine is a mineral quarried and ground up which is then scattered across farmland, initiating chemical reactions that capture CO2 as it moves through the soil.

• Stripe Climate repurchased an additional $1 million of carbon removal services from Eion.

• Eion's olivine is cheaper than traditional agricultural lime, partly due to the sale of carbon credits, making it financially competitive and environmentally beneficial.

• Sibelco, a mining partner and investor, has a contract guaranteeing Eion access to a minimum of 500,000 tons of olivine per year, estimating the total olivine market at over 50 million tons annually.

Looking Ahead:

• Eion's goal is to become a significant player in negative emissions, with potential plans to reach 5 to 10 million tons a year.

• The successful deployment of ERW and positive results may encourage wider adoption in the agriculture industry, potentially driving a shift from agricultural lime to olivine on farms across North America, South America, and Europe.

Read more: A Startup Using Crushed Rocks to Capture Carbon Has Delivered Its First Removals (Via Bloomberg)