Eion Receives Carbon Removal Purchases from Stripe to Accelerate Enhanced Rock Weathering Technology

PRINCETON, N.J., Dec. 15, 2021 /PRNewswire/ -- Eion, a carbon capture and sequestration technology company, today announced that it has entered into a Carbon Removal Purchase Agreement with Stripe, as part of Stripe's carbon removal purchase commitments with four technology companies. Eion will use the carbon removal purchases to accelerate CarbonLock ™, its patented carbon capture solution that uses pulverized minerals to absorb carbon dioxide in the atmosphere and can be deployed to agricultural lands, providing an accessible and scalable climate solution and an economic opportunity for farmers and rural communities.

"We're proud that Stripe has selected Eion as one of the recipients of their carbon removal purchase commitments," said Adam Wolf, Founder and Chief Executive Officer of Eion. "Farmers can play an important role in mitigating climate change and decarbonizing the food and agriculture value chain. We are providing an additional innovative technology solution that fits into their operations and conservation plans. This enables farmers to continue to do what they do best while offering an additional way to be directly part of the carbon solution in a permanent, verifiable, and affordable manner."

Eion's technology utilizes the process of enhanced rock weathering (ERW) which accelerates mineral weathering, removing carbon dioxide from the atmosphere. Using existing on-farm machinery and technology, this crushed silicate rock is applied to soil. In the presence of moisture and acidity occurring in the soil, the pulverized and pelletized rock dissolves irreversibly. This cycle results in carbon dioxide being pulled from the atmosphere into the solution, forming bicarbonate ions that over time make their way to the ocean and are safely and permanently stored there, while alleviating ocean acidification.

The product – CarbonLock ™ – is processed and formulated to address the goals of carbon sequestration, while also meeting the demands of production agriculture. CarbonLock ™ is processed to achieve a fast-weathering rate and can be applied using existing fertilizer or lime spreading equipment at a prescribed agronomic rate to maximize carbon capture. CarbonLock^TM provides farmers with an additional carbon capture solution that fits in with the climate-smart practices already occurring on their farms and ranches.

About Eion

Eion is a carbon capture and sequestration technology company that offers a scientifically proven, permanent, cost-effective, and nature-based solution for carbon removal and provides a simple way for farmers to capture and permanently sequester carbon. Using pulverized minerals to absorb carbon dioxide from the ambient air, Eion's CarbonLock ™ technology can be deployed to agricultural lands and provides a shovel ready climate-smart solution for U.S. agriculture and its farmers. To learn more, visit eioncarbon.com.

Contact: [email protected]

SOURCE Eion