Agricarbon, a Dundee-based automated soil carbon measurement company has partnered with HeavyFinance, a European climate tech investment marketplace.
The strategic partnership, centred on the launch of a 15,000 ha project in Lithuania, will see the companies align on a shared vision of making the transition to sustainable farming practices and the measurement of changes in soil carbon stock.
The deal forms part of HeavyFinance’s progress of removing one gigaton of carbon dioxide from the atmosphere by 2050. Both companies believe that cost effectiveness, along with data accuracy, is key to unlocking participation in the soil carbon offset market.
The companies will work together to test new stratification methodologies and remove previous barriers to direct measurement of thousands of hectares, all under a major international protocol for offsets.
Stewart Arbuckle, Co-founder & Chief Technology Officer of Agricarbon comments: “We are excited to be working with HeavyFinance as their innovative business model and understanding of and ability to deploy a direct measurement project will be extremely helpful across thousands of hectares, feeding into the ever-important sustainability agenda and promoting better financial opportunities for farmers everywhere.”
Laimonas Noreika, Founder of HeavyFinance comments: “By combining the innovative financing models from HeavyFinance, including Green Loans, with Agricarbon's innovative soil carbon measurement technology, we can begin to champion the transition to regenerative farming, achieving greater ROI for investors and making best practices more accessible to farmers. Collaboration is key to driving climate progress through the carbon credits market and we are excited to be working with Agricarbon to promote greater sustainability.”
The companies plan to scale the project across wider European companies over the next 12 months, increasing accessibility for farmers and investors in key markets.
The news comes following the launch of Green Loans by HeavyFinance, a debt instrument that enables retail and institutional investors to get returns on the sale of CO2 removal credits generated from European farmland.