Alt Carbon, an Indian deep-tech carbon removal startup, has issued Asia’s largest batch of verified Carbon Dioxide Removal (CDR) credits using the Enhanced Rock Weathering (ERW) method. The credits will be delivered to Japanese shipping company Mitsui O.S.K. Lines (MOL Group), eight months after the two organisations signed a multi-year agreement to permanently remove 10,000 tonnes of CO₂ from the atmosphere.
The credits are generated through the Darjeeling Revival Project, which aims to restore heritage tea estates and surrounding agricultural land while deploying ERW at scale. The method involves spreading finely crushed basalt over farmland, where it reacts with CO₂ dissolved in rainwater and stores it in mineral form that remains stable for thousands of years. The project also aims to improve soil health, stabilise pH levels and support crop productivity.
Alt Carbon’s first issuance has been recorded on the Isometric Registry, with underlying data made public for independent verification. The company says the milestone strengthens India’s position in the voluntary carbon market by demonstrating durable and scientifically validated CO₂ removal.
MOL Group, which is targeting net-zero greenhouse gas emissions by 2050, is the first buyer of these credits.
Daisuke Fujihashi, General Manager of MOL’s Carbon Solution Development Unit, said: “This issuance underscores Alt Carbon’s operational rigour in delivering a novel, and geologically permanent carbon removal pathway such as ERW in such a quick turnaround. We’re determined to achieve net-zero GHG emissions by 2050… This first generation of CDR improves our confidence in subsequent deliveries.”
The project aligns with MOL’s BLUE ACTION 2035 strategy, which includes a goal of reducing emissions intensity by around 45% by 2035 compared with 2019 levels.
Shrey Agarwal, Co-Founder and CEO of Alt Carbon, said the issuance highlights the need for large-scale carbon removal and climate finance.
“India needs $1 trillion of climate finance by 2030… While the world is debating carbon markets at COP, we are proving it at scale here in India,” he said. “This first issuance will further our mission to build the underlying scientific and data infrastructure, enabling gigaton-scale carbon removal in South Asia.”
Alt Carbon’s measurement and verification system integrates geotagged field monitoring, soil and water sampling, weather-station networks and ocean-chemistry modelling. The company works with the Indian Institute of Science (IISc) Bangalore and Ashoka University to strengthen its scientific protocols.
Eamon Jubbawy, Founder and CEO of Isometric, added: “This milestone marks an important step forward for Enhanced Weathering, demonstrating both its potential as a scalable climate solution and the growing demand for high-quality carbon removal.”
Alt Carbon’s early buyers include Frontier — a Stripe-led purchasing coalition involving Alphabet, Shopify, Meta and McKinsey Sustainability — as well as the NextGen CDR coalition led by South Pole and Mitsubishi Corporation. Other purchasers include John Good Group and carbon marketplaces such as CUR8, CEEZER and Watershed.
Demand for CDR credits is being shaped by regulations such as CORSIA and legal mandates in Japan, Singapore and Switzerland, alongside increasing scrutiny from investors. According to industry estimates, the global carbon removal market has grown from USD 300 million to more than USD 10 billion in transacted volumes over the past three years.
Alt Carbon plans to expand the Darjeeling Revival Project to more than 100,000 acres over the next year, involving over 25,000 farmers across varied soil and crop types. The company will also launch its Carbon Removal as a Service (CDRaaS) model across South Asia, using its in-house technology stack to scale ERW deployment.
Sparsh Agarwal, Co-Founder and President of Alt Carbon, said the issuance signals the potential for India to become a major player in engineered carbon removal.
“Issuing Asia’s largest verified CDR credits is both a milestone and a mandate… This represents a unique opportunity to mobilise climate finance to India, and transform CO₂ removal into a manufacturing sector opportunity for the country,” he said.
Alt Carbon expects the project to support India–Japan climate collaboration and mark the first step towards achieving megaton-scale CO₂ removal by 2030.
