Jan 6, 2025 | News
Mati Carbon’s 2024 in Review: A Year of Growth, Recognition, and Possibilities
As we move into 2025, we wanted to take a minute to reflect on the year gone by. Mati Carbon is thrilled to reflect on this year of significant milestones, groundbreaking partnerships, and global impact. This year has been pivotal in advancing our mission of enabling scalable and permanent carbon dioxide removal (CDR) while fostering climate resilience for smallholder farmers across the Global South
A Year of Growth
Scaling Operations in India: Partnering with over 10,000 registered farmers, Mati has deployed over 80,000 tons of basalt dust across six districts and three states. This initiative is set to sequester over 20,000 tons of CO2 while enriching soil health and increasing crop yields. It has also generated $1.0 million in additional income for farmers in 2024 alone.
We also opened new bases to expand across India with full operations underway in 3 states and ongoing trials in others.
Mati’s farmer partner in Nawagaon Chhattisgarh, showing increase in crop yield of the harvested crop
Expansion in Africa: We are proud to state that we have expanded our operations in Africa in our target regions in Tanzania, and Zambia. Africa’s potential for ERW is immense, and our work here lays the foundation for long-term impact. These efforts aim to regenerate degraded soils and enhance food security, positioning Africa as a leader in ERW adoption. By addressing soil degradation and food insecurity, we are creating a model for sustainable development that can be replicated across the continent.
Overwhelming response from farmers for Mati’s Zambia project
Team Growth: To support our expanding operations, Mati Carbon added 45 new members in 2024. This growth enables us to manage new deployment bases and trials across three countries. Each new member brings expertise and passion, strengthening our ability to innovate and execute at scale.
Mati Team at our annual Offsite in Madhya Pradesh, India
Major Partnerships
Delivery of Carbon Credits to Frontier Climate: Earlier in 2024, Mati Carbon became the first company to deliver Enhanced Rock Weathering (ERW)-based carbon removal credits to Frontier Climate. This delivery validates our advanced digital MRV system built specifically for smallholder farmers and sets a benchmark for reliability and scalability in CDR. Further deliveries in November demonstrated the robustness of our approach.
Purchase Agreement with major industry players: Mati Carbon was able to attract multiple buyers through 2025 and has signed significant purchase agreements for selling its ERW CDR credits. This revenue stream provides a significant boost to the continued scale up efforts of Mati.
Carbon Removal for Events: In a first of its kind approach, we have finalized an agreement to provide CDR for concerts and football matches, ensuring these events achieve Net Zero emissions. This initiative sets a precedent for integrating CDR into large-scale events globally. This new market segment also demonstrates the versatility of our solutions. By making cultural and sporting events more sustainable, we aim to bring carbon removal into public consciousness and discourse, encouraging even more widespread adoption.
Fundraising Milestones
This year, Mati Carbon successfully secured significant funding in grants and crowdfunding. This includes funding to support Mati scale-up in India, trials for Africa, and money raised through a crowdfunding campaign with Wren. These funds have been instrumental in driving our mission forward, supporting expansion efforts in Africa, and scaling our operations in India.
This support represents more than funding; this also highlights the trust and belief these organisations have placed in our vision. Each contribution has allowed us to expand our research capabilities, broaden our reach, create agroecological specific Monitoring, Reporting and Validation (MRV) stack, and accelerate efforts toward achieving a lasting impact in climate mitigation efforts and smallholder farmer climate resilience. Our ability to secure support from such renowned organizations reflects the potential of our Enhanced Rock Weathering (ERW) technology as a cornerstone of not just global carbon removal efforts, but also a significant driver for co-benefits for smallholders across the Global South to make them more resilient to climate changes.
Research and MRV Initiatives:
Research in collaboration with IGKV: The Department of Soil Sciences at Indira Gandhi Krishi Vishwavidyalaya (IGKV) conducted research on Mati’s rock dust deployments. The findings, set to be published in an academic journal, show productivity gains of 8.9% to 35% in rice crops across various soil types and seasons. These results highlight the dual benefits of carbon removal and agricultural productivity enhancement. This research not only validates the efficacy of our technology but also underscores its potential to transform agriculture in developing regions. The combination of enhanced crop productivity and carbon sequestration represents a powerful tool in combating climate change while ensuring food security.
Commitment to Open Data: Additionally, towards our aim to ensuring ERW reaches its full potential across the Global South, Mati Carbon has joined Cascade Climate’s initiative to open-source critical research data. Additional datasets will be made available to researchers through a proposal-based request system, advancing the ERW field collectively. Our commitment to open data fosters collaboration and accelerates innovation in the carbon removal industry. By sharing our findings, we aim to catalyse collective progress, ensuring that scientific advancements benefit everyone.
Recognition and Awards
2024 was a significant year for us. We are proud to share that we got recognised globally for our efforts in scaling ERW across the Global South.
XPrize Carbon Removal Challenge Top 20 Finalists: Mati Carbon was selected as one of 20 finalists from more than 1300 applicants to work towards XPRIZE Carbon Removal’s grand prize of $50 million to be awarded in 2025. Mati Carbon was selected because of our demonstrated operational and scientific excellence along with providing significant benefits to smallholder farmers
Xprize Team and Auditors visit to Mati’s operating sites
US DOE Carbon Dioxide Removal Purchase Pilot Prize Phase 1 Semi-finalists: Mati Carbon was selected by United States Department of Energy as the semi-finalists for CDR purchase Pilot prize (Phase 1). This prize allows companies to compete for the opportunity to deliver carbon dioxide removal credits directly to DOE. Mati Carbon received $50,000 to support efforts to scale our technology with funding coming from the Bipartisan Infrastructure Law.
Bezos Earth Fund Recognition: Mati was among 13 winners in Phase II of the Bezos Earth Fund’s $1M Greenhouse Gas Removal Ideation Prize. This grant will support the development of MRV systems tailored to local agroecological zones in Tanzania.
Milkywire Climate Transformation Fund: Mati Carbon was selected by Milkywire as one of thirteen carbon dioxide removal suppliers chosen from over 220 proposals. Our focus is on building permanent carbon removal using highly robust MRV systems while building climate resilience in smallholder farmers. The partnership with Milkywire is set to bring new opportunities and expand the reach of our innovative CDR solutions.
Fellowship for Our Founder: Our founder also got selected for the prestigious Henry fellow program by Mulago Foundation for Mati’s promising efforts to enable climate resilience amongst smallholder farmers while doing carbon removal.
Looking Ahead
Mati Carbon’s achievements in 2024 are a testament to the work we have done to bring the benefits of ERW permanent carbon removal to the smallholder farmer community. As we step into 2025, we are ready to scale our operations, deepen our partnerships, and continue driving meaningful change for the planet and its people.
Stay tuned for updates as we push the boundaries of carbon removal and climate resilience!
May 8, 2024 | News
May 8 – Mati Carbon has been selected as one of 20 finalists to work towards XPRIZE Carbon Removal’s grand prize of $50 million to be awarded in 2025. Mati Carbon’s Enhanced Rock Weathering (ERW) strategy is focused on the Global South and removes carbon at scale with 10,000 years of permanence. In addition to carbon removal, Mati Carbon’s ERW boosts the climate resilience of smallholder farmers in climate-vulnerable regions such as India, Sub-Saharan Africa, and Southeast Asia.
XPRIZE Carbon Removal, aims to tackle the biggest threat facing humanity – fighting climate change and rebalancing Earth’s carbon cycle. This four-year, $100 million global competition invites innovators and teams from anywhere on the planet to create and demonstrate solutions that can pull carbon dioxide directly from the atmosphere or oceans and sequester it durably and sustainably.
The top 20 finalists were evaluated and selected over a year from more than 1300 participants by the XPRIZE Carbon Removal team and a group of qualified judges to move forward into the final stage of the competition. Each team was evaluated across three key areas: operations, sustainability, and cost.
Mati, along with the other XPRIZE finalists, presents a viable pathway to reaching megatonne-scale carbon removal by 2030 with the goal of reaching gigatonne scales of removal. Mati also demonstrates operational maturity, having deployed over 40,000 tonnes of basalt in agricultural fields to date, while launching programs to track the environmental and societal impacts of ERW operations in the Global South.
“We are thrilled to be selected as a top 20 finalist for XPRIZE Carbon Removal,” said Mati Carbon CEO Shantanu Agrawal. “With over 5000 registered farmer partners we are on track to deliver >$ 1 million in increased farmer incomes in 2024. We are dedicated to pushing forward climate justice by leveraging ERW technology for climate adaptation for millions of farmers.”
Mati Carbon leverages the natural process of ERW to permanently remove carbon dioxide from the atmosphere through the application of silicate rocks on agricultural lands. This involves the engineered dissolution of powderized silicate rocks in agricultural fields. As the rock powder dissolves, it releases essential nutrients resulting in improved soil quality which passes benefits of higher crop yields, income and food security to farmers in climate-vulnerable regions such as India, Sub Saharan Africa and Southeast Asia. This approach not only aids in permanent carbon sequestration (10,000+ year permanence) but also improves soil health and crop productivity, thereby supporting the livelihoods of smallholder farmers in developing countries.
Recently, Mati Carbon completed the first ever delivery of Engineered Carbon Removal tonnes in the Global South. Mati delivered 50 tons of CDR to Frontier buyers in March 2024, from deployments initiated in 2022. Additionally, Mati has just been selected as a CDR supplier by Klarna, Spotify, and others – as a part of the Milywire Climate Transformation Fund.
As carbon removal markets grow, maintaining trust from the public and stakeholders is of the highest importance. To ensure scientific rigor and public trust, Mati Carbon has diligently worked with scientific leaders to develop robust Monitoring, Reporting, and Verification (MRV) protocols. Mati’s MRV technology stack, was developed in collaboration with Yale University’s Center for Natural Carbon Capture, University of Sheffield’s Leverhulme Centre for Climate Change Mitigation, and other research partners at leading academic and private institutions. Additionally, Mati’s Chief Science Officer worked closely with collaborating scientists to publish this recent study validating the use of Mati’s MRV methods. Mati Carbon’s emphasis on publishing peer reviewed research, and its scientific rigor are at the core of its commitment to developing reliable and scalable solutions for carbon removal while building public trust.
About XPRIZE: XPRIZE is an established global leader in designing, launching, and executing large scale competitions to solve humanity’s greatest challenges. Our unique model democratizes innovation by incentivizing crowd-sourced, scientifically viable solutions to create a more equitable and abundant future for all. Donate, learn more or join a team at xprize.org. For questions and support with media inquiries, press releases and materials, and all other media -related questions,please contact the XPRIZE PR Team:
prteam@xprize.org
May 7, 2024 | News
Mati is proud to present its new brand identity!
This new logo is designed to symbolize strength, endurance, and our agricultural focus. The beast of burden is an integral part of livelihood for smallholder farmers across the Global South.
As such, the updated logo alludes to our unwavering commitment to the climate resilience of Global South’s farming communities. These smallholder farming communities are our partners and inspiration as we scale Enhanced Rock Weathering (ERW) deployments for Carbon Dioxide Removal (CDR).
May 1, 2024 | News
We are thrilled to announce that Mati Carbon has been selected by Milkywire for the Climate Transformation Fund in 2024, a significant achievement given the extremely competitive nature of this year’s selection process.
Pushing the Boundaries of Carbon Dioxide Removal
Mati Carbon is among the thirteen carbon dioxide removal suppliers chosen from over 220 proposals, Our focus is on building doing permanent carbon removal using highly robust MRV systems while building climate resilience in smallholder farmers. The partnership with Milkywire is set to bring new opportunities and expand the reach of our innovative CDR solutions.
The Road Ahead
This recognition by Milkywire underscores the urgent need for viable CDR solutions and the role that innovative companies like Mati Carbon play in shaping a sustainable future. We are excited about the possibilities this partnership opens up and are eager to continue our work with renewed vigor, supported by Milkywire’s commitment to fostering a network of cutting-edge CDR technologies.
We thank Robert Höglund and Team Milkywire for selecting us and putting trust in our team.
We also thank Klarna, Spotify, BioGaia AB, Atomico ING Future Energy Ventures Steamery, Northzone, Planet A Ventures, Atomico and Mentimeter for taking up climate leadership and supporting us. This support is critical for us as we scale faster in the coming years.
https://www.milkywire.com/articles/new-cdr-2024
Mar 29, 2024 | News
New Delhi, March 29, 2024 – Mati Carbon proudly announces the successful delivery of its first CDR tons to a group of buyers facilitated by Frontier. This marks a significant milestone not just for Mati Carbon, but for the Global South’s emerging engineered CDR sector and for the climate markets’ role in driving rural inclusive growth and a just transition. This inaugural delivery underscores Mati Carbon’s pioneering role in advancing the Enhanced Rock Weathering (ERW) technology. Mati Carbon delivered 50 tons of CDR to Frontier buyers in March 2024, from deployments initiated in 2022. Basalt rock dust was deployed as an ERW feedstock in rice paddy fields in partnership with smallholder farmers in rural Chhattisgarh, India. Importantly, Mati Carbon has demonstrated that it is possible to deliver durable carbon removal to the corporate buyers with net zero /sustainability targets while providing a platform for for driving crop yield and income uplift for, smallholder enabling their climate adaptation.
Led by serial Climate-Tech entrepreneur Shantanu Agrawal, Mati Carbon leverages the natural process of ERW to permanently remove carbon dioxide from the atmosphere through the application of silicate rocks on agricultural lands. This approach not only aids in permanent carbon sequestration but also improves soil health and crop productivity, thereby supporting the livelihoods of smallholder farmers in developing countries. This recent study published with Mati’s collaborators demonstrates the significant agronomic benefits for crops.
“Less than a year after Frontier facilitated a pre-purchase agreement with Mati, they’ve successfully delivered their first 50 tons. It’s great to see a team that is moving this quickly while remaining laser-focused on furthering the science of rigorously measuring removals from weathering.” said Joanna Klitzke, Ecosystem and Procurement Strategy Lead at Frontier.
Mati Carbon is a leader in the ERW space due to its focus on robust scientific Monitoring, Reporting, and Verification (MRV) technology, developed in collaboration with Yale University’s Center for Natural Carbon Capture, University of Sheffield’s Leverhulme Centre for Climate Change Mitigation, and other research partners. Mati’s Chief Science Offcier (CSO) worked closely with collaborating scientists to publish this recent study validating the use of Mati’s MRV methods. Mati Carbon’s emphasis on publishing research through partnerships, and its scientific rigor are at the core of its commitment to developing reliable and scalable solutions for carbon removal.
Mati Carbon’s CSO, Jake Jordan added “ Our research program and collaborators work to make CDR more reliable by improving Monitoring, Reporting and Verification (MRV) techniques. By charting a pathway to cheaper, yet more reliable MRV, we can build a future where ERW works in the Global South to benefit the people who actually live there.”
As Mati Carbon continues to scale its operations and explore new avenues for ERW deployment, this first achievement is a testament to the ERW’s ability to address the pressing challenges of climate change. ERW provides a scalable climate adaptation solution that is accessible to vulnerable populations who are among the most profoundly affected by climate change. Mati Carbon remains committed to its mission of harnessing the power of the Earth’s natural processes to fight climate change, while empowering smallholder farmers in the Global South with sustainable, climate-resilient farming practices.
About Frontier: Frontier is an advance market commitment to buy an initial $1B of permanent carbon removal between 2022 and 2030. It was founded by Stripe, Alphabet, Shopify, Meta, McKinsey Sustainability, and tens of thousands of businesses using Stripe Climate. Frontier’s goal is to accelerate the development of carbon removal technologies by guaranteeing future demand for them. In practice, its team of technical and commercial experts facilitates purchases from high-potential carbon removal companies on behalf of buyers. More information at frontierclimate.com.
