UNDO & Barclays Launch $5M ERW Project to Remove 6,500 Tonnes of CO2
UNDO, a carbon removal project developer specialising in enhanced rock weathering (ERW), has secured a significant deal with UK-based bank Barclays. The agreement, worth $5 million, sees UNDO accelerate the natural weathering process across 10,000 acres of farmland in Ontario, Canada, aiming to remove over 6,500 tonnes of CO2 from the atmosphere.
This innovative project comes after UNDO's victory in the XPRIZE Carbon Removal competition. The technology involves spreading finely crushed silicate rock onto agricultural land, which captures and stores CO2 in rainwater and soil, ultimately transporting it to the oceans for long-term storage. This is Barclays' first carbon removal agreement, following a substantial 95% reduction in its Scope 1 and 2 emissions. The bank, aiming to be net zero by 2050, views ERW as a scalable solution for permanent carbon removal.
UNDO's technology not only removes CO2 but also enriches the soil, benefiting farmers and the environment. The project is set to begin soon, marking a significant step in Barclays' sustainability journey and UNDO's mission to combat climate change through enhanced rock weathering.
UNDO and Barclays have joined forces to tackle climate change, with a groundbreaking project that combines carbon removal and soil enrichment. The $5 million agreement, set to remove over 6,500 tonnes of CO2, demonstrates Barclays' commitment to sustainability and UNDO's innovative approach to combating global warming.
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