After an “extraordinarily competitive selection process”, Milkywire has selected Flux among 13 new carbon dioxide removal (CDR) suppliers for the Climate Transformation Fund.

Flux’s mission is to unlock the potential of Enhanced Rock Weathering (ERW) in Africa to capture carbon and help farmers restore their soils. This commitment signifies a huge milestone for the industry as the first ERW purchase on the African continent, and acknowledges the huge potential for creating a scalable, permanent CDR solution that has immense co-benefits.

Flux spreads natural silicate rock powders, such as basalt, onto farmland, where it dissolves in rainwater. This process captures and removes carbon dioxide from the atmosphere, and increases the soil health of the farm, leading to improved yields and better nutrients uptake.

The Climate Transformation Fund has supported 30 projects worldwide since 2021 and by the end of this year, will expect to have paid out more than $13 million to over 45 climate projects in total. The charitable fund is backed by companies like Klarna, Spotify, ING Bank, Avanza, BioGaia, Mentimeter, Steamery, Northzone, Planet A, Atomico and Future Energy Ventures. Many of the companies have implemented an internal carbon fee, taxing themselves to generate a budget for climate support.

“We received over 1,000 proposals in our recent open call across the Climate Transformations fund’s three pillars, with about a quarter stemming from CDR. The fund supports projects within CDR, emission reductions and advocacy, as well as nature solutions to help reach global net zero, providing a beyond-value-chain-mitigation alternative to offsetting.

Overall, the quality of the CDR proposals was very high. We shortlisted around a third to submit an extended application, assessing them against our selection criteria and taking input from our advisory group. We are not just looking for high-quality projects, but also to catalyze as much change as possible, identifying where our funds are most impactful.” – Milkywire Announcement

Sam Davies, CEO of Flux, said “We are incredibly proud to be selected by Milkywire and Klarna for this pre-purchase, and become the first suppliers of ERW in Africa. This selection is further proof that the highest quality Carbon Dioxide Removal can happen in Africa, where the co-benefits are felt the most. We are grateful for the support, enthusiasm and passion shown by the Milkywire team, and the lengths that they went to during this process to understand our solution, and look forward to working together to achieve a successful delivery – this is just the start!”

Visit www.fluxcarbon.earth to learn more about Flux.

See the Milkywire Announcement here.