We signed six more carbon removal deals at the end of 2024 for another 18,250 tonnes of removal. We specifically targeted high-performing companies that are ALREADY removing carbon to help keep them on track with their expansion plans. This brought Shopify's grand total to $36.3M across 23 companies in 2024—our biggest year yet.
Here’s how we’re helping these six companies:
Mati Carbon (enhanced rock weathering; 5,000 tonnes): enables their expansion to 20,000 smallholder farms in India, Zambia, and Tanzania in 2025
Planetary (ocean alkalinity enhancement; 2,000 tonnes): helps reduce their costs in Nova Scotia, open new sites like one just launched in Virginia, and progress OAE as a field
Applied Carbon (mobile biochar; 4,000 tonnes): alongside USDA and DOE, supports their deployment of more in-field systems in Texas as a key step to unlock large-scale biochar carbon removal integrated with crop production
BIOSORRA (biochar; 1,000 tonnes): enables them to double the capacity of their first biochar production facility in Kenya and speed up hiring for key roles
MASH Makes (biochar; 3,250 tonnes): helps them establish their second commercial biochar + biofuel facility in India, while promoting the growth of the country’s biochar market
Planboo (biochar; 3,000 tonnes): we’re purchasing from a portfolio of Planboo’s artisanal biochar projects across the tropics to help each project enhance the quality and efficiency of its operations and scale
A few stray thoughts on these deals:
• We hadn’t looked at biochar in a while and found some great projects when we did. These were our favourites
• We paid out more than 50% of these six deals upfront to help these companies finance their scale ups
• Demand is a bottleneck. Some of these companies would have needed to slow expansion if we didn’t come in with these purchases
More to come in 2025!
