Boomitra

Boomitra, founded by Aadith Moorthy, operates as an international soil carbon marketplace that aims to increase carbon sequestration in agricultural soil. The company, whose name means "friend of earth" in Sanskrit, partners with farmers and ranchers to implement regenerative land management practices that capture and store carbon in the soil while enhancing soil health, agricultural yields, water quality, and biodiversity. Boomitra utilizes advanced satellite technology and AI to monitor carbon increases in soil, which are then third-party verified as carbon removal credits. These credits are sold to companies and governments looking to offset their carbon emissions, with the majority of the revenue going directly to the farmers and ranchers.

As of April 2024, Boomitra was working with 150,000 farmers and ranchers managing five million acres of land across Africa, South America, and Asia. The company's projects had removed 10 million metric tons of CO2 from the atmosphere. Boomitra's technology allows for continuous monitoring of soil carbon levels throughout the lifetime of a project without the need for constant soil sampling. The company employs dynamic baseline calculations, biogeochemical models, and evaluations of agricultural practices to ensure additionality in carbon sequestration.

Boomitra's approach includes setting aside buffer pools, typically about 20% of measured credits, to cover any unexpected discrepancies in carbon storage levels. The company aims to reach gigaton-scale carbon drawdown by 2030, with a specific target of storing one gigaton of CO2 in soil by that year. In November 2023, Boomitra was announced as The Earthshot Prize Winner in the 'Fix Our Climate' category, recognizing its efforts in combating climate change through innovative technology and regenerative agriculture.

Key customers and partnerships

Boomitra's customer base includes corporations and governments worldwide who purchase carbon credits to meet their sustainability goals. The company works with farmers across multiple countries, with its largest presence in India, where it had approximately 110,000 farmers from 14 states as of December 2023. Boomitra also has projects in Kenya, Rwanda, South America, and Mexico.

In terms of partnerships, Boomitra collaborates with local implementation partners through long-term agreements spanning over 40 years. These partnerships are crucial for providing support to farmers and ranchers in adopting and maintaining regenerative agriculture practices. As of May 2023, Boomitra announced its aim to deliver USD 200 million in carbon finance to farmers and ranchers in the developing world by 2025, leveraging its technology and global partnerships to implement projects that increase soil carbon.