Carbon removal joint venture NextGen CDR has signed a multi-year agreement to purchase carbon dioxide removals (CDR) from Bolivia-based biochar producer Exomad Green. A standout feature of this deal is the integration of independent digital monitoring, reporting, and verification (dMRV) technology into the carbon credit purchasing process.
The partnership will be supported by Carbonfuture, a German platform specializing in CDR marketplace and verification services, according to an announcement on Thursday.
NextGen’s First Foray into South America
NextGen, a joint venture between project developer South Pole and conglomerate Mitsubishi Corporation, procures CDRs on behalf of five major corporate partners. The agreement with Exomad Green marks NextGen’s first purchase of CDRs in South America.
Exomad Green’s biochar facilities in Concepción and Riberalta, Bolivia, are among the largest in the world. According to NextGen, this purchase supports its goal of sourcing only certified technological CDRs, ensuring credit production by 2025.
“We are committed to contracting up to 1 million tonnes of CDRs between 2025 and 2030,” NextGen stated.
Scaling Up to Meet Demand
Exomad Green’s CEO, Diego Justiniano, highlighted the transformative impact of this agreement: “This partnership with NextGen propels us to expand our production capacities to meet the urgent demands of both the market and the planet.”
In September, Exomad Green announced plans to build new facilities in Bolivia, aiming for a more than tenfold increase in production capacity by 2027.
Additionally, the integration of Carbonfuture’s MRV+ system ensures transparency and reliability throughout Exomad’s carbon removal operations, from capture to credit issuance.
Carbonfuture Enhances Verification Capabilities
Carbonfuture, a company specializing in verification solutions for durable CDR projects, completed a Series A funding round in September. The investment, which included a significant minority stake from Swiss financial infrastructure company Six, will enable Carbonfuture to expand its services and enhance transparency for carbon removal initiatives.
Long-term Vision for Technological Solutions
In October, NextGen signed another purchase agreement for CDR credits from an enhanced rock weathering project in India. This followed previous purchases from projects involving direct air capture (DAC), bioenergy with carbon capture and storage (BECCS), biochar, and product mineralization.
With strategic investments and cutting-edge monitoring technology, NextGen and its partners are leading the market in promoting effective and sustainable carbon removal solutions, paving the way for a carbon-neutral future.
Source: Quantum Commodity Intelligence
 from Bolivia-based biochar producer Exomad Green. A standout feature of this deal is the integration of independent digital monitoring, reporting, and verification (dMRV) technology into the carbon credit purchasing process.){kind=link}