Key facts
- Stack Carbon and Wild Assets signed a multi-year offtake agreement for carbon removal credits.
- The agreement involves tens of thousands of tonnes of credits from an enhanced rock weathering project in Uganda.
Uganda-based Stack Carbon has signed a multi-year offtake agreement with US-based Wild Assets for tens of thousands of tonnes of carbon removal credits from its enhanced rock weathering project. The deal is described as the largest ERW offtake from Africa to date.
This agreement signifies a major step in the development of carbon removal projects in Africa, highlighting growing international investment and confidence in the continent's capacity to deliver high-integrity climate solutions at scale.
Uganda-based climate technology firm Stack Carbon has entered into a significant multi-year offtake agreement with US-based CO2 removal (CDR) asset manager Wild Assets. The deal is for the future delivery of tens of thousands of tonnes of durable carbon removal credits generated from Stack Carbon's enhanced rock weathering (ERW) project in Uganda.
Both companies have hailed the agreement as the largest ERW offtake from Africa to date, signaling increasing demand for high-integrity carbon removal credits originating from the continent and growing investor confidence in African-developed CDR projects. The ERW project involves applying finely crushed basalt to farmland to accelerate the natural weathering of silicate rock, which permanently removes atmospheric CO2. This process is also anticipated to enhance soil health, increase crop yields, and bolster climate resilience for numerous smallholder farmers.
The project is registered under Rainbow's ERW standard, ensuring a framework for monitoring, reporting, and verification of durable carbon removals. Bashir Dan, founder and chief executive of Stack Carbon, stated that the agreement marks a pivotal moment for the company and for durable carbon removal in Africa, underscoring confidence in African innovation and the capacity of local climate technology firms to deliver high-integrity carbon removal at scale.
Looking ahead, Stack Carbon aims to deliver over 1 million durable CDR credits through ERW by 2035, while simultaneously regenerating approximately 250,000 hectares of farmland across Uganda and Madagascar. This initiative is projected to create long-term environmental and economic benefits for an estimated 500,000 individuals in farming communities. For Wild Assets, this transaction represents its largest ERW offtake to date and its inaugural investment in Africa.