Google and Microsoft-backed Terradot get competition for carbon removal

Starting to remove carbon Terradot he’s getting competition AeonThe two companies announced today. The transaction was mainly driven by large investors such as independent funds, which want to work with companies that can handle large projects. Eion was very young, CEO of Eion Anastasia Pavlovic Hans he said The Wall Street Journal.

Both companies spread crushed stone on farm fields to absorb carbon dioxide from the atmosphere. Known as enhanced rock weathering (EWR), it accelerates natural processes and can be a a cost-effective way to remove carbonbut it requires large and distributed operations. The spread between what EWR companies are willing to charge and what consumers are willing to pay it is broadaccording to the CDR survey.fyi.

California-based Terradot’s operations are concentrated in Brazil, where the company works with basalt as its mineral of choice, while Eion they work in the US and use olivine. Terradot’s list of investors includes Gigascale Capital, Google, Kleiner Perkins, and Microsoft, while Eion’s investors include AgFunder, Mercator Partners, and Overture.