Varaha, a leading carbon removal company from farming, has issued durable carbon dioxide removal (CDR) credits from industrial biochar under Puro.Earth, the world’s leading CDR registry.
This is the first-ever issuance of industrial biochar credits in India.
Varaha’s project in Telengana produces biochar, a carbon-rich material, using agricultural waste (corn shanks) as the feedstock.
- Also read: UltraTech Cement ties up with University of California for decarbonisation project
Biochar helps improve soil fertility and locks carbon away for thousands of years. By generating biochar via a gasifier facility, Varaha not only sequesters CO2 but also prevents emissions that would have resulted from waste mismanagement and fossil fuel usage.
Varaha’s issuance positions it as the leading project developer for industrial biochar credits in South and Southeast Asia. Its in-house, industry-leading, digital measurement, reporting and verification (MRV) platform quantifies the sequestration from biochar projects.
Beyond carbon removal, its efforts extend to improving soil health, boosting crop yields, conserving water, and enhancing biodiversity across its projects.
Varaha has already enrolled over 9 lakh acres of farmland across India, Bangladesh, Nepal and Kenya, working with over 100 partners across these geographies to expand its impact.
This positions the company as the leading solution provider for global companies striving to achieve net-zero goals through its diversified portfolio of high-quality, science-backed carbon removal credits.
- Also read: Avaana Climate and Sustainability Fund raises $135 million to fuel climate-tech start-ups in India
Madhur Jain, Co-Founder and CEO, Varaha, said the MRV technology is highly scalable and the company is confident of deploying it across smallholder geographies with global implementation partners.
Alvin Lee, Regional Head of Asia-Pacific for Puro.earth said having spoken with leading experts on the CDR Panel and project developers the growth potential of the carbon removal services market in India is palpable.
Varaha has raised nearly $13 million in equity financing, with recent Series A round led by RTP Global, with support from Omnivore, Orios, Norinchukin Bank, among others.
