Houston Based Mati Carbon Wins $50 Million XPRIZE For Carbon Removal Innovation

Photo: CEO Shantanu Agarwal (Inset)

India-West News Desk

HOUSTON, TX – Mati Carbon, a pioneering climate-tech company with deep ties to India, has won the $50 million grand prize in the prestigious XPRIZE Carbon Removal competition. Founded by Indian American entrepreneur Shantanu Agarwal, Mati Carbon operates between the United States and India, delivering cutting-edge Carbon Dioxide Removal (CDR) solutions while empowering smallholder farmers across the Global South.

Mati’s breakthrough solution leverages Enhanced Rock Weathering (ERW) technology, a natural process that removes atmospheric carbon dioxide while revitalizing degraded soils. Their work, especially in India, focuses on applying pulverized basalt free of charge to farmlands, significantly boosting crop yields and improving farmers’ incomes. With operations already expanding in India, Tanzania, and Zambia, Mati is on track to partner with 30,000 farmers by the end of 2025.

“Winning the XPRIZE is a definitive validation of the transformative model we have built—improving farmer livelihoods while removing carbon at scale,” said Founder and CEO Shantanu Agarwal. “As an Indian entrepreneur, it’s especially meaningful to scale this impact across Indian farms and partner with local communities to fight climate change.”

The XPRIZE Carbon Removal competition, launched in 2021 with a $100 million purse, challenged global innovators to develop scalable, verifiable solutions to remove at least 1,000 metric tons of CO₂ from the atmosphere. Mati Carbon’s scientifically rigorous and cost-effective approach stood out among more than 1,300 competing teams from 112 countries.

Climate change continues to pose a severe threat to smallholder farmers in India, who often lack access to fertilizers and financial resources. Mati’s model offers a vital lifeline: basalt application not only captures CO₂ but also replenishes soil nutrients, increasing farm yields by an average of 20%. This productivity boost translates to higher incomes, enabling farmers to invest in their futures and build resilience against extreme weather events.

Mati Carbon’s innovative approach is already attracting attention from major global buyers of carbon credits, including Shopify, Stripe, and H&M. The company plans to leverage the XPRIZE recognition to scale operations even further across India and other regions vulnerable to climate impacts.

Supported by Swaniti Initiative, a U.S.-based non-profit with strong Indian operations, Mati is uniquely positioned to bridge cutting-edge science with grassroots action, it said.