Eion, a company specializing in carbon removal with enhanced rock weathering (ERW), announced a new deal with tech leader Microsoft.
Under the agreement, over a period of 5 years, Eion will provide Microsoft with 8,000 tons of permanent carbon removal using its innovative ERW approach based on olivine.
To achieve this goal, Eion has partnered with farmers based in the mid-Atlantic, and it will use their farmland for spreading the mineral-rich olivine material to capture carbon dioxide from the air.
Once the olivine has been dispersed on the soil, Eion uses a rigorous, science-based direct measurement approach to calculate the amount of CO2 removed. Its methodology is developed following third-party standards and independent verifiers, and it provides continuous tracking for soil health and safety.
Brian Marrs, Senior Director of Energy Markets at Microsoft, commented, “Eion’s verification methodology, continuous monitoring of environmental conditions, and established history of successfully delivering carbon removal makes them stand apart in ERW.”
“We look forward to supporting this important component within the ecosystem of proven climate solutions.”
Eion has experienced remarkable success within the last two years.
In November 2023, the company delivered carbon removal services to Stripe and managed to secure access to 500,000 tons of olivine per year from Sibelco, carving a steady path to achieving the ambitious goal of removing 10 million tons of CO2 per year starting in 2030.
Additionally, Eion recently made the list of semifinalists for the Carbon Dioxide Removal Purchase Pilot Prize, an initiative launched by the Department of Energy as an effort to stimulate growth in the carbon removal market.
Relevant: Eion Wins Investment From Exelon Climate Change Investment Initiative
Leveraging this momentum, the company recently closed a $3 million Series A extension funding round to continue working towards commercialization and further research and development.
The funding round saw participation from Growmark, AgFunder, Ridgeline, Trailhead Capital, Overture Partners, Mercator Partners, Exelon Foundation, and others.
Through their partnership with agricultural supply co-op Growmark, Eion will be able to access millions of acres of farmland across the US, deploying its rock weathering technology at a larger scale.
Read more: Eion Makes First Delivery Of Enhanced Rock Weathering Carbon Removal To Stripe
