The Carbon Dioxide Removal (CDR) sector, though still in its early stages globally, is emerging as a key driver for achieving net-zero emissions. While traditional emission reduction strategies could reduce emissions by 11%, prioritising CDR offers a potential 38% reduction annually. As an area with exponential growth potential, the CDR market is primarily fueled by voluntary carbon credits, which are expected to expand 20-fold to reach $1 trillion by 2037. And within this VCM market, removal credits—particularly engineered solutions like Enhanced Rock Weathering (ERW)—are gaining traction. ERW stands out for its capacity to store carbon for over a thousand years, ensuring high levels of permanence and offering robust verification protocols.

Positioned as India’s frontrunner in ERW, Alt Carbon is leveraging this technique to capture CO2 by applying finely crushed basalt, rich in essential minerals like magnesium and calcium, to agricultural lands. This process binds atmospheric CO2 with soil minerals, transforming it into stable carbonates that sequester carbon in the ocean for thousands of years. Beyond its carbon capture benefits, ERW also raises soil pH, a vital improvement for the highly acidic soils of tea estates in India’s North-East, where declining productivity has long challenged farmers.

Founders Shrey and Sparsh Agarwal, fourth-generation tea estate owners with deep ties in the tea community, have secured access to 2,000 hectares for expansion, with partnerships covering an additional 8,000 hectares and potential access to 40,000 hectares across Darjeeling, Assam, Tripura, and Uttarakhand. With rigorous measurement, reporting, and verification (MRV) protocols established in partnership with IISc, the company is close to obtaining certification for its removal credits. With a solid foundation and early results, Alt Carbon has attracted $7 million in forward purchase orders, including $500,000 in pre-purchase from Frontier, and is well-positioned for further growth.

To drive scalability, the company is now establishing the Darjeeling Climate Action Lab (D-CAL), an in-house MRV facility that will allow it to process over 600,000 samples annually, enabling credit commitments to Frontier and NextGen starting in 2025. This internal facility is also projected to bring credit costs down to $100, improving the economic viability of carbon removal. For the broader ERW ecosystem, D-CAL offers a cost-efficient MRV service to help other ERW players achieve market viability.

Backed by a dedicated team of 35, including geochemists and business development experts, Alt Carbon is on a promising trajectory with clear targets: removing 0.23 million tons of CO2 by 2027 and scaling up to 1 billion tons by 2040. At ACT For Environment, we’re excited to support Alt Carbon’s journey as they set new standards in scalable, scientifically rigorous carbon removal, advancing India’s progress toward net-zero emissions!