Mati Carbon has won the Xprize Carbon Removal competition with its innovative but straightforward approach of enhanced rock weathering, which captures carbon in soils for millennia. The company grinds basalt rock, increasing its surface area to effectively absorb carbon dioxide. By spreading this rock dust on agricultural fields free-of-charge, Mati supports farmers while generating carbon removal credits, which it plans to sell. The founder, Shantanu Agarwal, envisions reducing credit costs significantly in the coming years, while indicating the importance of logistics in ensuring the success of their technology.
"It's really been an honor to be selected amongst the luminaries of carbon removal who have been competing for this prize," said Shantanu Agarwal, founder and CEO of Mati Carbon.
Mati's carbon removal technology, enhanced rock weathering, is simple. The company grinds rocks that convert carbon dioxide into stable minerals, spreading the dust in farm fields.
Mati applies basalt to farmers' fields free of charge, supported by a mix of grants and carbon removal credit sales, aiming for $100 per metric ton.
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