Inplanet's technology relies on a natural process in which silicate rock weathers. The silicates react with water and CO2, producing dissolved bicarbonates. These are then washed into the oceans via groundwater and rivers, where they form carbon-rich sediments. Inplanet harnesses and accelerates this process by selectively spreading suitable rock flour on fields in tropical regions where the weather conditions are best suited for the process. The company calls this Enhanced Rock Weathering (ERW).
In addition to the Removal of atmospheric CO2 This method offers another advantage: The bicarbonates produced in the process regenerate tropical soil and fertilize the fields. This allows farmers to reduce the use of artificial fertilizers and pesticides.
The startup has now closed its pre-seed round with €1.2 million, which even made it oversubscribed. The funding came from Carbon Removal Partners, Übermorgen Ventures, Trellis Road, Katapult VC, and the Carbon Drawdown Initiative. Inplanet was supported by, among others, the EIT ClimateKIC as a participant in the ClimAccelerator. The startup was also part of the Batch 2022 from Frontier, an Advance Market Commitment.
Inplanet aims to capture 10,000 tons of CO2 this year
Felix Harteneck, CEO and Co-Founder of Inplanet, says:
"We are grateful for the support of our pre-seed investors and look forward to using this funding to expand our current team. In 2023, we plan to spread 50,000 tons of rock flour to remove 10,000 tons of CO2. This will enable us to generate unique and scientifically valuable data to further understand the weathering process in the tropics."
