Enhanced rock weathering (ERW) company Eion has signed its largest-to-date carbon dioxide removal (CDR) purchase agreement with buyers from the Frontier commitment.
Under this $33 million agreement, Eion will remove 78,707 tons of CO2 between 2027 and 2030 through its olivine-based ERW operations.
To be able to unlock this quantity of removals, the company has partnered with the farmers- and agribusinesses-owned cooperative Growmark, one of the largest organizations of this kind in North America with a network of nearly 400,000 customers.
By teaming up with Growmark, Eion is gaining access to vast new acreages of farmland, where it will deploy olivine—a mineral material that will remove atmospheric CO2, providing benefits to local farmers.
Approved for use in agricultural practices, olivine has a capacity for absorbing high amounts of carbon dioxide. Its structure, made up of various trace elements, enables accurate measurements of the exact carbon removal impact.
This material also provides a cost-effective alternative to farmers using agricultural lime in their practices, offering a more efficient spreading method powered by existing practices.
To track the effect of its ERW operations, Eion has adopted a direct measurement process that entails lab exams and testing of soil samples.
Eion’s practices are aligned with verified data and risk exposure models from the Environmental Protection Agency (EPA), positioning the company as a trusted partner for farmers and a responsible developer in the CDR industry.
Relevant: Frontier Announces 5th Round Of Pre-Purchase Agreements
Eion CEO Anastasia Pavlovic stated that the offtake agreement with Frontier presents an opportunity to meaningfully scale ERW in the United States.
She added, “Via our partnership with Growmark, we’re excited to deliver tangible value to the farmers who are critical to achieving significant carbon removal while maintaining operational excellence on the farm. “
On behalf of Growmark, Executive Vice President and CEO Brad Drake shared, “Growmark believes it is important to invest in innovative products like this that help make agriculture more sustainable while also connecting farmers with carbon buyers.”
Read more: Eion Secures A Deal With Microsoft And Locks In $3M In Extended Series A Funding
