Eion, a pioneer in the field of carbon removal, has made significant progress in its work on its enhanced rock weathering (ERW) deal with technology company Stripe.
The company announced that it has successfully completed partial delivery of a carbon removal purchase from Stripe, demonstrating the effectiveness of its novel technology.
Eion’s patented approach to ERW, which includes using direct soil sampling to measure carbon removal and continuously monitoring environmental conditions, has impressed Stripe enough for them to make an additional $1 million carbon repurchase from the company.
The company successfully captured the first 50 tonnes of carbon from the deal through the application and weathering of olivine, a silicate material that safely captures and permanently stores carbon.
What separates Eion from others in this field is their direct measurement process, which provides actual results to account for how ERW works in real-world conditions. The use of existing soil sampling practices and standard lab equipment and methods gives Eion scientific rigor and a reliable framework for responsible scaling of enhanced rock weathering.
The innovative company has worked on boosting olivine—a naturally abundant mineral approved for agricultural use—to weather more quickly while improving soil health at a lower cost to farmers than the material they typically use. Thanks to its ability to absorb high rates of carbon, olivine is ideal for ERW, while its composition, which includes different trace elements, allows for measuring the removed carbon dioxide.
In order to meet its ambitious target of removing 10 million tons of carbon dioxide annually starting in 2030, Eion has secured guaranteed access to a minimum of 500,000 tons of olivine per year from Sibelco, a leading mineral solutions provider.
By accelerating the Earth’s process of naturally mineralizing rocks to balance atmospheric CO2 levels, Eion compresses what would otherwise take thousands of years into a timeline of 1 to 4 years.
The endorsement of this groundbreaking technology by a prominent multinational company like Stripe highlights the significant promise Eion holds for advancing the battle against climate change.