Google's Groundbreaking Carbon Removal Deal with Terradot

Google's Groundbreaking Carbon Removal Deal with Terradot

26 de dezembro de 2024

Google has made headlines by signing its largest carbon removal deal to date, partnering with enhanced rock weathering (ERW) startup Terradot to purchase 200,000 tonnes of carbon removal credits. This agreement, which also includes an equity investment in Terradot, is expected to see credits delivered starting in 2029 and represents a significant step in Google’s ongoing commitment to combat climate change. This deal follows Google’s earlier announcement in March of its intention to secure at least $35 million worth of carbon removal credits over the next year.

The partnership aims to enhance Terradot’s ERW approach, which accelerates the natural process that captures CO2 through rock weathering by crushing basalt rock and applying it across farmland, thereby simultaneously improving soil health. Randy Spock, Google’s Carbon Credits & Removals Lead, emphasized the importance of scaling this technology and obtaining rigorous data to support real-world implementations. He noted that Terradot is strategically positioned to drive significant CO2 removals, aligning with Google’s own net-zero goals.

Founded in 2022 by a team including James Kanoff, Sasankh Munukutl, and Scott Fendorf, Terradot seeks to capitalize on the ability of ERW to remove billions of tons of CO₂ in the coming decade. The company is currently operating pilot projects in Brazil, selected for its favorable conditions for agriculture and clean energy sources.

In conjunction with Google’s agreement, Terradot announced another deal with the carbon removal buyer coalition Frontier to deliver an additional 90,000 tonnes of carbon removal between 2025 and 2029 for various companies, including Stripe and Shopify.

Moreover, Terradot recently completed a Series A funding round, raising $54 million with participation from notable investors, including Sheryl Sandberg and Microsoft’s Climate Innovation Fund. Sandberg praised the leadership team for their capability and commitment to tackling climate challenges.

This major carbon removal initiative stands as a testament to the growing recognition of innovative approaches in the fight against climate change and the increasing role of technology in sustainability practices.

Source: https://www.esgtoday.com/google-signs-its-largest-ever-carbon-removal-deal-to-capture-co2-in-crushed-rocks-and-soil/

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