InPlanet, a start-up company founded in August 2022, has raised €1.2 million from impact investors to tackle the global problem of carbon removal. The CEO and co-founder, Felix Harteneck, realized the lack of scalable, permanent, and safe solutions to remove CO2 from the atmosphere after founding two software companies.
With his friend Niklas, Harteneck identified the potential of Enhanced Rock Weathering (ERW) for carbon removal in the tropics and founded InPlanet. ERW is a natural process that occurs when rocks weather and dissolve, releasing minerals and locking away carbon dioxide.
InPlanet aims to accelerate this process by distributing suitable rock powder on agricultural land in the tropics. This removes carbon from the atmosphere, regenerates soil, and fertilizes crops, leading to more sustainable and nutritious food production.
In 2023, InPlanet plans to spread 50,000 tons of rock powder to remove 10,000 tons of CO2. In addition, the company has partnerships with leading agricultural research universities to monitor and effectively verify ERW in Brazil. InPlanet is also part of the Frontier Batch 2022 and is removing carbon for companies such as Shopify and Stripe.
“We are grateful for the backing of our pre-seed investors and thrilled to utilize the funding to expand our team. Our goal for 2023 is to distribute 50,000 tons of rock powder, which will help us eliminate 10,000 tons of CO2. This will provide us with a rare opportunity to gather insightful and scientifically valuable data to gain a deeper understanding of the weathering process in tropical regions.” commented Felix Harteneck, CEO and Co-Founder of InPlanet.
InPlanet participated in the ClimAccelerator 2022, showcasing its innovative solution. The company’s goal is to significantly contribute to the global effort to tackle climate change and help create a more sustainable future for all.
The investment from impact investors highlights the growing interest in solutions that mitigate carbon emissions and positively impact the environment and local communities. With its innovative approach and partnerships with leading institutions, InPlanet is well-positioned to significantly move the fight against climate change.
Image provided by InPlanet