carbon removal startup teradot getting competitive eonBoth companies made the announcement today. The sales were largely driven by large investors such as sovereign wealth funds, who want to work with companies that can handle large contracts. Ion CEO Anastasia Pavlovich Hans says Ion was too young told Wall Street Journal.
Both companies spread pulverized rocks on fields to absorb carbon dioxide from the atmosphere. Known as enhanced rock weathering (EWR), it speeds up a natural process and has the potential to be a cheap way to remove carbonBut this requires large and distributed operations. The difference between what EWR companies want to charge and what buyers are willing to pay remains wideAccording to a survey by CDR.fyi.
California-based Teradot’s operations are focused on Brazil, where the company works with basalt as its mineral of choice, while Ion US works and uses of olivine. Teradot’s investor list includes Gigascale Capital, Google, Kleiner Perkins, and Microsoft, while Ion’s investors include Agfunder, Mercator Partners, and Overture.
