Africa-based enhanced rock weathering (ERW) startup Flux has sold its first carbon removal credits to the Milkywire Climate Transformation Fund.
The credits, representing the first-ever ERW credits made in Africa, were sold at a price of US$370 each in a transaction facilitated by the CYNK platform.
This sale is part of a pre-purchase made by Milkywire in May 2024. At that time, the organization selected a new list of carbon removal suppliers as recipients for its Climate Transformation Fund, where Flux was chosen in the Geochemical Solutions category.
Milkywire sources durable carbon removal from emerging and promising suppliers around the world. The organization pools corporate contributions and uses them to fuel a carefully curated portfolio of carbon removal projects, providing monitoring and real-time updates for tracking progress.
In their 2024 fund application process, Milkywire selected 13 new carbon removal suppliers to make pre-purchase agreements with, aiming to boost the advancement of their efforts.
As the first company to work with enhanced rock weathering in Africa, Flux caught the attention of the Milkywire fund, offering a solution that not only removes CO2 but also improves soil quality, providing local farmers with improved yields and fortifying crop resilience to varying climate factors.
The startup uses crushed silicate rocks, which they spread on farmlands in Africa, a region where the potential added benefits of ERW are the highest.
Relevant: Milkywire Announces Thirteen Finalists For Climate Transformation Fund
Starting with a pilot project with smallholder farmers in Kenya, Flux is working on building a network of partners, collaborating with large-scale farms and rock queries in different regions in Africa.
This strategy is targeting large-scale implementation of the ERW technology, and on account of this plan, the startup is also preparing to test its solution in Nigeria and Cameroon.
The knowledge gained through their work will be used as a foundation for deploying ERW into more African communities, hoping to accelerate widespread adoption across the continent.
Read more: Flux To Partner With Nigerian Govt For Enhanced Rock Weathering Initiative
