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BFD Expert Voices - Climate Deals

BFD Expert Voices

Spreading crushed rock over farmland is having a climate tech moment.

Why it matters: Investors and companies like Google are buying into the technique as a low-cost method of removing carbon from the atmosphere.

Catch up quick: So-called enhanced rock weathering (ERW) is a process of spreading pulverized limestone rock on cropland.

The rock reacts with carbon dioxide in the soil and the CO2 is sequestered, while also making the soil healthier and increasing crop productivity.

Driving the news: Last month the first independently verified carbon removal credits for an ERW project were issued.

Adyen, a Dutch financial services company, purchased the carbon removal credits, issued to project developer InPlanet. Carbon registry firm Isometric verified the credits and portfolio management company ClimeFi brokered the deal.

The verified credits are "a huge moment for carbon removal," said Eamon Jubbawy, the founder and CEO of Isometric. They're key for "inviting more capital in," and for more buyers to start buying credits, said Jubbawy.

Enhanced rock weather projects currently only make up 2% of carbon removal credits, with just 560,000 total tons purchased, according to research firm CDR.fyi. The sector has been held back by the lack of verification of projects.

Fun fact: Sixty-five percent of all ERW volume was contracted in 2024, says CDR.fyi.

The largest announcement came from two deals totaling 290,000 tons for Google and buying group Frontier from ERW startup Terradot in December.

State of play: Investors, project developers and buyers are starting to take ERW more seriously.

Last month, Terradot launched with $58.2 million in funding from a high-profile list of investors including Google, Microsoft, John Doerr, Sheryl Sandberg, and George Roberts, the co-founder of KKR.

InPlanet, which secured the verified credits, is working with 55 farmers and finalizing the spreading of about 200,000 tons of rock on 15,000 hectares, says InPlanet co-founder and CEO Felix Harteneck.

By 2027, InPlanet plans to be on track to remove a megaton of carbon via ERW projects, says Harteneck.

The intrigue: Industry watchers say ERW is gaining momentum because it doesn't use any new science or processes, can be one of the lowest costs to deliver, and can also provide benefits for the farmers involved.

By 2030, companies should be able to reach $200 per ton in price for ERW credits, said Harteneck.

The technique can also sequester carbon for thousands of years, instead of hundreds of years with other processes.

Bottom line: Expect ERW to keep gaining momentum in 2025 as buyers look for lower-cost carbon removal projects to offset emissions and developers gain traction in regions like Brazil.

Removing CO2 with rock dust gains backers

Investors, developers and buyers are starting to jump in.

Spreading pulverized rock on cropland removes carbon and can increased crop productivity

A farmer in Brazil spreads pulverized rock on cropland, which can remove carbon and increase crop productivity. Photo: Courtesy of InPlanet

Spreading crushed rock over farmland is having a climate tech moment.Why it matters: Investors and companies like Google are buying into the technique as a low-cost method of removing carbon from the atmosphere.

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Removing CO2 with rock dust gains backers

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