Edit: A previous version of this article stated that carbon removals will be third-party verified by Carbonfuture. This has been changed to reflect that in fact the carbon credit phases, from carbon capture to credit issuance, will be tracked with dMRV provided by Carbonfuture.
NextGen, a platform providing access to high-quality carbon dioxide removal (CDR), has signed a multiyear contract with Bolivian biochar producer Exomad Green, agreeing to purchase removals that will be tracked with a dMRV system by Carbonfuture.
With its diversified portfolio of premium, high-integrity CDR offsets, NextGen aims to bring buyers closer to cost-effective carbon removals, offering offsets at an average price of $200/tonne.
In this purchase agreement, NextGen set a precedent by introducing the requirement for all Exomad Green carbon credits that will be offered on the platform to have independent digital Monitoring, Reporting, and Verification (dMRV), entrusting this task to Carbonfuture and their comprehensive dMRV tool.
By integrating independent dMRV into the credit purchase process, NextGen guarantees the transparency and accountability of the CDR projects listed on its platform, building buyer confidence in the quality of credits.
On behalf of Carbonfuture, Dominic Lüdin, Chief Growth Officer, shared that they are proud to partner on this deal, adding, “Carbonfuture MRV+ enables real-time transparency on credit quality for NextGen buyers while supporting efficient credit issuance for carbon removal projects like the market-leading Exomad Green.”
As a leading biochar producer, Exomad Green is focused on improving the climate and the well-being of local communities, hoping to pave the way for a more sustainable future for all.
This deal with NextGen comes at a time when Exomad Green is expanding its capacity, adding extensions to its Concepcion site, and working to introduce three new production facilities by 2027, which, along with its Riberalta plant, will bring its infrastructure network to a total of five sites.
Relevant: Exomad Green Ups Its Removal Capacity With New Concepción Site Expansion
Kartick, Head at NextGen CDR, expressed the company’s excitement to partner with Exomad Green on this deal, further diversifying and de-risking the portfolio of CDR technologies and geographical coverage offered by NextGen.
He goes on to add, “We are also proud to be associated with such initiatives where climate financing catalyzes socio-economic and environmental benefits on the ground in addition to durable carbon storage.”
Read more: NextGen Taps Into Asian Market With CDR Purchase From Alt Carbon
