Verde AgriTech ranks in Top 100 Teams in XPRIZE Carbon Removal Competition

SINGAPORE, April 29, 2024 (GLOBE NEWSWIRE) -- Verde AgriTech Ltd (TSX: “NPK”) (“Verde” or the “Company”) is pleased to announce that it has been named as one of the Top 100 most promising carbon removal innovators competing in the XPRIZE Carbon Removal. The goal of the XPRIZE Carbon Removal is to build a new industry of successful carbon removal companies that collectively reach gigatonne-scale. Verde has been ranked amongst the top 100 collection of innovating companies from 25 countries which represent all carbon dioxide removal pathways: Air, Ocean, Land and Rocks. The XPRIZE announcement kicks-off a campaign to promote the most promising carbon removal companies in the world and the publication of the “Top 100 Team Book”.¹

“In other editions, the XPRIZE has been a driver for innovation at large scale in critical global challenges, such as private spaceflight and alternative protein production. Therefore, it is an honor to have Verde recognized among the Top 100 innovators in XPRIZE Carbon Removal. For us, this is only the beginning, Verde will make the most of the opportunities and collaborations stemming from this accolade. Verde’s installed production capacity has the CO2 capture and offset potential equivalent to that absorbed by about 14 million trees per year.² We are obsessed in making that a reality, the sooner the better for the Planet as whole,” stated Cristiano Veloso, Verde’s Founder and CEO.

As an official XPRIZE Carbon Removal Top 100 Team, Verde has been invited to participate in the Carbon Removal Capital Summit in San Francisco, September 10-12, 2024. This event will foster interactions between the Top 100 teams with a curated group of investors, bankers, and financiers that have an interest in funding CDR companies.

Verde’s Carbon Removal Potential

Located in São Gotardo within the state of Minas Gerais, Brazil, Verde’s operations are underpinned by one of the world’s largest potash resources, at 5.9 billion tons as approved by the Brazilian Mining Agency, of which 3.32 billion tons have been certified under Canadian National Instrument 43-101.³ Thereupon, Verde has a total capture potential of 0.7 gigatons of CO₂ from the atmosphere,⁴ which would establish it as one of the world’s largest carbon capture projects.