Eion secures $33 million deal with Frontier Buyers for carbon removal.
Eion, a company dedicated to implementing enhanced rock weathering (ERW) as a viable eco-friendly solution, has recently sealed a notable carbon removal transaction with Frontier buyers, amounting to $33 million. This landmark deal will see Eion eliminating 78,707 tons of CO2 from the environment between 2027 and 2030 by utilizing olivine, a mineral that has been specially engineered to weather rapidly, on farmland across the Midwest and South regions of the United States. In order to successfully execute this initiative at a large scale, Eion has formed a strategic alliance with Growmark, a major agricultural cooperative in North America. Leveraging Growmark’s vast network of nearly 400,000 farmers, Eion aims to extend its ERW operations to new areas and promote the widespread adoption of this innovative carbon removal process.
By expediting the natural process through which Earth mineralizes rocks to stabilize atmospheric carbon levels, Eion effectively condenses a procedure that typically spans thousands of years into just a few years. Olivine, which has long been approved for agricultural applications, is an ideal candidate for ERW due to its exceptional carbon absorption capabilities and unique composition that enables Eion to accurately measure CO2 removal. Not only does olivine offer farmers a cost-effective alternative to traditional agricultural lime, but it also allows for more efficient distribution using existing farming practices.
Anastasia Pavlovic, the CEO of Eion, expressed her enthusiasm about the potential for Frontier’s purchase to significantly scale up ERW endeavors in the United States. Through the collaboration with Growmark, Eion aims to deliver tangible benefits to farmers, recognizing their vital role in achieving substantial carbon removal goals while upholding operational excellence on their lands. This joint effort is poised to generate positive economic stimulus and enhance soil health in rural communities, aligning closely with Eion’s overarching mission.
As a farmer-owned entity deeply embedded in the agricultural sector, Growmark has built a longstanding reputation as a reliable partner to farming communities. The strategic partnership with Eion unlocks fresh opportunities for utilizing olivine on additional acreage, thereby offering evident advantages to farmers while expanding the scope of agricultural operations conducive to enhanced weathering initiatives.
Through a meticulous process of direct measurement utilizing real-world data, Eion is able to effectively monitor the ERW operation in the field. By employing established soil sampling techniques and standard laboratory equipment and methodologies, Eion can ensure scientific precision while upholding stringent health and safety standards. Each soil sample analyzed by Eion is scrutinized for the presence of key trace elements like nickel and chromium, which are naturally occurring in agricultural soils, and compared against the company’s safety benchmarks. Informed by verified data and risk assessment models from the Environmental Protection Agency (EPA), Eion operates as a responsible land steward and trusted partner to farmers and rural communities.
Frontier has played a pivotal role in facilitating carbon removal transactions on behalf of its founding members, which include reputable organizations such as Stripe, Google, Shopify, and McKinsey Sustainability, alongside other prominent corporations like Autodesk, H&M Group, Workday, and Salesforce. Additionally, technology firms like Aledade, Canva, Match Group, and Samsara have successfully purchased carbon removal services through Watershed’s collaboration with Frontier.
Eion’s innovative approach to carbon removal involves the large-scale implementation of ERW techniques on agricultural lands. With the backing of leading investors like AgFunder, Growmark, and Ridgeline, and having received scientific validation from Stripe Climate, Eion is on a mission to eliminate over 10 million tons of CO2 annually by 2030. To learn more about Eion’s transformative initiatives and stay updated on its progress, visit EionCarbon.com and follow their updates on LinkedIn.