Carbon removal company Terradot and sustainable infrastructure investor HASI (NYSE: HASI) have finalized a $34 million senior secured term loan to fund the expansion of Terradot’s enhanced rock weathering (ERW) projects across the United States and Brazil.
The debt financing is secured by fixed-price, multi-year carbon removal off-take contracts with Frontier—a buyer coalition that includes major corporate members such as Google, Salesforce, JPMorgan Chase, Shopify, and Stripe—alongside carbon delivery insurance provided by CFC and arranged through broker Marsh.
Enhanced rock weathering involves spreading finely ground silicate rocks over agricultural soils. The process chemically captures atmospheric carbon dioxide and sequesters it permanently in ocean alkalinity over thousands of years, while simultaneously releasing beneficial minerals that improve soil health for crop producers. Under its deployment schedule, Terradot plans to apply 1 million tonnes of crushed rock across 60,000 hectares (150,000 acres) of farmland in the US and Brazil during 2026 and 2027.
Key commercial, scientific, and corporate details of the transaction include:
- Financing structure: Represents one of the initial senior debt facilities structured specifically for ERW project deployment, shifting the carbon removal sector from reliance on early-stage equity toward traditional infrastructure debt capital.
- Capital and investor base: Extends Terradot’s cumulative financing, building on $58 million in equity raised from venture and corporate backers including Google, Microsoft, Gigascale Capital, Valor Capital, and Acre Venture Partners.
- Corporate integration: Follows Terradot’s 2026 acquisition of US competitor Eion, expanding its operational footprint and credit issuance under certified protocols from Isometric and Puro.earth.
- Long-term deployment targets: Supports the company’s broader operational pipeline targeting 1 million tonnes of annual permanent carbon dioxide removal by 2035, underpinned by measurement, reporting, and verification (MRV) models led by Stanford University geochemists.
Julia Sekula, Chief Financial Officer and Co-Founder of Terradot, stated that long-term contracted demand combined with multi-year empirical field data allowed the company to bound operational risks and secure institutional project debt.
Annmarie Reynolds, Co-Chief Investment Officer at HASI, noted that Terradot met core infrastructure investment criteria by pairing contracted off-take revenue with field-tested deployment mechanics.
Hannah Bebbington Valori, Head of Frontier, added that multi-year corporate off-take commitments are designed to provide the predictable revenue streams necessary for carbon removal developers to access commercial debt markets.
