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Today’s interview is with Shantanu Agarwal, Founder & CEO, Mati Carbon
What is Mati Carbon?
For those unfamiliar, what is Mati, and how does it uniquely contribute to the CDR ecosystem?
At Mati, we have pioneered enhanced rock weathering (ERW) in smallholder farming systems, tapping into millions of acres already under cultivation rather than requiring new infrastructure or land-use change. By delivering finely milled basalt at no cost to farmers, we rejuvenate degraded soils, boost water retention and nutrient availability, and increase crop yields while sequestering CO₂ through natural geochemical cycles. Our work spans remote, climate-vulnerable communities in India, Zambia and Tanzania regions least responsible for but most affected by climate change where every step from basalt sourcing to soil sampling is governed by a rigorous, science-based monitoring, reporting and verification framework.
We are proving that durable carbon removal is achievable at scale in smallholder fields worldwide, without adding operational burdens and with uncompromising scientific integrity.
Winning XPRIZE
Mati recently won the $50 million grand prize in the XPRIZE Carbon Removal competition for its enhanced rock weathering (ERW) approach. Could you elaborate on how this method works and why it was recognized as a leading solution?
Enhanced Rock Weathering (ERW) is an accelerated form of the natural geochemical process of rock weathering that enables long-term carbon dioxide removal. It involves the application of finely milled silicate rock, primarily basalt, to agricultural soils. Once deployed, the basalt undergoes chemical weathering reactions, wherein cations such as calcium (Ca²⁺) and magnesium (Mg²⁺) are released and react with carbonic acid (formed from CO₂ and water) to generate soluble bicarbonate ions (HCO₃⁻). These ions are transported via hydrological pathways to rivers and oceans, where the carbon is effectively sequestered on millennial timescales. This process mirrors Earth’s long-term carbon cycle, but is significantly accelerated under field-managed conditions.
Beyond carbon removal, our ERW program delivers significant benefits to smallholder farmers. These farmers are among the least responsible for and the most vulnerable to the impacts of climate change. Our deployments bolster farmers’ livelihoods through improved soil health, reduced agricultural inputs, and increased income at zero cost to them. We have also developed a scientifically rigorous approach to monitoring and verification, which excelled across each of XPRIZE’s evaluation criteria – operational, sustainability, and cost metrics giving the XPRIZE judges the highest confidence in Mati Carbon’s solution’s long-term scalability.
ERW Strategy
Your ERW strategy not only sequesters carbon but also improves soil health and boosts crop yields for smallholder farmers. How does this dual benefit model enhance the scalability and adoption of your solution?
Mati’s ERW model improves soil health and boosts yields without requiring farmers to change how they farm. There’s no land use change, no new equipment, and no added cost. This ease of integration, along with visible improvements in crop yields and soil pH, drives strong adoption. The model is fully subsidized through carbon credits, making it risk-free for smallholders already facing rising input costs and declining productivity.
We introduce the solution through local awareness meetings and back it up with small, visible trials. Through the impact of these trials, farmers adopt quickly after seeing early results. With over 200 million smallholders living within 200 km of viable basalt sources, the model is geographically highly scalable without the need of significant additional infrastructure. The agronomic benefits help drive word-of-mouth, which becomes the most powerful adoption channel in rural farming communities.
Scaling Challenges
Mati's operations currently span India, Zambia, and Tanzania, with plans to collaborate with 30,000 farmers by year-end. What are the key challenges and opportunities you've encountered in scaling your model across diverse geographies?
One of the biggest opportunities in scaling ERW across India, Zambia, and Tanzania has been the shared need among smallholder farmers for low-cost, high-impact interventions that improve soil health and crop yields. Farmers in all three regions are dealing with degraded soils, rising input costs, and climate variability. Since our model fits into existing agricultural practices without requiring land use change or upfront investment, it translates well across geographies.
That said, each geography brings its own set of challenges. In India, we benefit from dense farming networks and existing local governance structures, but field operations must navigate complex logistics and seasonality. In Zambia and Tanzania, land is more spread out and infrastructure can be more limited, which increases the cost and complexity of deployments. Trust-building also varies: in some areas, community buy-in is quick; in others, deeper engagement is needed. But the core principles of local partnerships, community-led operations and visible agronomic benefits remain central to how we scale.
Transparency & Accuracy
Your proprietary software platform, matiC, plays a crucial role in monitoring and verification. How does this technology ensure transparency and accuracy in measuring carbon removal at scale?
matiC is our end-to-end software platform designed to manage everything from field deployment to farmer onboarding and sample tracking. It brings together geospatial data, transport logs, soil and rock sampling records, and deployment details, linking each basalt application to a specific farmer, field, and date. This level of traceability ensures transparency and makes the system audit-ready as we grow.
We have build this platform for the specific needs of ERW in smallholder farming systems. Our apps work in low-connectivity areas, allowing us to operate in remote regions where support is most needed. The platform supports field teams in coordinating logistics, capturing consistent data, and maintaining operational quality across locations. This foundation is critical for scaling ERW while staying grounded in accuracy and accountability.
Approach to Funding
Mati operates as a nonprofit and has consciously avoided venture capital to maintain mission integrity. How does this funding approach influence your strategic decisions and long-term vision?
Mati is a public benefit corporation with a holding nonprofit entity because we were founded with a mission to build climate resilience for smallholder farmers. This mission-first approach shapes every strategic decision we make, including our choice to avoid venture capital. By staying independent of investor pressures, we’ve been able to prioritize long-term impact over short-term returns. This funding model allows us to work in regions that are often overlooked places where deploying ERW is challenging but deeply impactful. It enables us to take calculated risks, run large scale field trials, and engage communities that require time and trust-building. At a global level, there's a $300 billion funding gap for climate adaptation and resilience. Most of this gap is concentrated in the Global South, where smallholder farmers bear the brunt of climate impacts but receive only a fraction of available funding. Our model addresses that gap directly by providing a scalable, farmer-first solution that delivers durable carbon removal and agronomic benefits without burdening farmers with upfront costs.
CDR Credits
Given the increasing scrutiny on the integrity of carbon credits, how does Mati ensure that its CDR credits are verifiable, durable, and contribute meaningfully to climate goals?
At Mati, ensuring the integrity of our carbon dioxide removal (CDR) credits starts with the understanding that ERW is still an evolving science. That means the key is to stay agile, build evidence continuously, and let rigor lead scale. Because we operate exclusively in smallholder farmer fields, we have a unique opportunity to run multiple controlled, localized experiments simultaneously across different soils, climates, and farming practices. This accelerates our learning and allows us to adapt quickly, while improving accuracy in how we measure carbon removal.
We are building what is likely the world’s largest ERW soil dataset from smallholder farms. This is central to how we strengthen verifiability. Our proprietary tech platform, matiC, tracks every basalt deployment and every soil or water sample taken, with precise GPS tagging and timestamped records. The system is designed to align with high-integrity MRV standards, including Puro Earth and Isometric, and is built to ensure transparency and traceability at every step.
The credibility of our approach has also been externally validated. As part of the XPRIZE Carbon Removal competition, every part of our operations was independently audited on-field deployments, testing protocols, MRV systems, and impact on farmers. We have always strived to build a scientifically robust, farmer-first CDR model that meets the highest standards of integrity and impact.
Primary Challenges
Looking ahead, what are the primary challenges and opportunities Mati anticipates in scaling its ERW solution globally, and how do you plan to address them?
Scaling ERW globally requires navigating diverse regulatory environments, establishing community trust, and adapting to local socio-political contexts. A single rumor or misunderstanding at the village level can disrupt operations across an entire region. Local political dynamics may influence land access and community participation, and ensuring the safety of our teams, vendors, and farmer partners is a top priority.
To address these challenges, we have implemented robust systems built on transparency, accountability, and consistency. Our proprietary platform delivers real-time visibility into field activities, while our standard operating procedures are designed for both scalability and local adaptation. These procedures guide every phase of the project from vendor selection and basalt application to post-deployment monitoring. We also deploy community engagement teams that conduct farmer outreach with sensitivity to local customs and concerns. This approach enables us to uphold quality, build trust, and deliver reliable results as we expand into new regions.
