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illuminem summarises for you the essential news of the day. Read the full piece on TechCrunch or enjoy below:
🗞️ Driving the news: Mati Carbon has won the $50 million Xprize Carbon Removal competition for its low-cost, scalable enhanced rock weathering solution
• The technique involves spreading basalt rock dust on farmland to absorb CO₂ and enrich soil
• The company outperformed technologies ranging from direct air capture to ocean alkalinity enhancement
🔭 The context: Launched by the Musk Foundation, the Xprize Carbon Removal sought practical, scalable carbon capture solutions to remove gigatons of CO₂
• Mati's approach leverages existing agricultural practices and waste basalt from construction
• The technology is not new, but Mati’s model — backed by grants and carbon credit sales — makes it economically viable at scale
🌍 Why it matters for the planet: Enhanced rock weathering could deliver over 1 gigaton of carbon removal annually if deployed across 800–900 million acres of smallholder farmland, which supports 1 billion people
• It also boosts soil fertility and drought resilience, aligning climate mitigation with food security and rural development — particularly in the Global South
⏭️ What's next: Mati plans to expand operations beyond India, Tanzania, and Zambia into three additional countries in 2025
• To accelerate adoption, it will offer free licensing of its ERP platform to partners that commit to sharing profits with farmers
• Credit validation and cost reductions will be key to scaling and attracting broader carbon markets
💬 One quote: “This Xprize is going to go a long way to push us in that direction,” — Shantanu Agarwal, founder and CEO of Mati Carbon, referencing the company’s aim to build a global nonprofit market mechanism benefiting smallholder farmers
📈 One stat: Farmers using basalt dust reported up to 70% yield increases on degraded soils and 25% on fertile land, while improving water retention
See on illuminem's Data Hub™ the sustainability performance of Heirloom and largest carbon credits buyers including Stripe, and Shopify
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