Home / Business and Economy / Carbon Removal Giants Unite: Terradot Acquires Eion
Carbon Removal Giants Unite: Terradot Acquires Eion
7 Feb
Summary
- Terradot acquired Eion to handle large contracts for investors.
- Both companies use enhanced rock weathering to remove CO2.
- Terradot operates in Brazil using basalt; Eion in the U.S. using olivine.
Carbon removal startup Terradot has acquired its competitor Eion, as announced today.
The acquisition was largely propelled by major investors, including sovereign wealth funds, seeking partners who can manage substantial contracts.
Eion's CEO, Anastasia Pavlovic Hans, stated that the company was simply too small to meet these demands.
Both companies employ enhanced rock weathering (EWR), a technique that involves spreading pulverized rocks on farm fields to absorb atmospheric carbon dioxide.
This method accelerates a natural process and shows promise as a cost-effective carbon removal solution, though it necessitates large, distributed operational footprints.
Terradot, based in California, primarily operates in Brazil, utilizing basalt as its chosen mineral.
In contrast, Eion operates within the U.S. and works with olivine.
Investor backing for Terradot includes prominent names like Gigascale Capital, Google, Kleiner Perkins, and Microsoft.
Eion's investors comprise AgFunder, Mercator Partners, and Overture.
