InPlanet and Idemitsu Americas Holdings Close Non-Recourse Debt Facility, Setting a New Standard for Financing ERW Carbon Removal

[SÃO PAULO, BRAZIL, SEPTEMBER 17, 2026] InPlanet and Idemitsu Americas Holdings (“IAH”), a wholly owned subsidiary of Idemitsu Kosan (“Idemitsu”), today announced the closing of one of the first non-recourse project financings in the Enhanced Rock Weathering (ERW) sector. 

The debt facility will fund the delivery of more than 28,500 tonnes of contracted Carbon Dioxide Removal (CDR) and is structured to be repeatable, providing a template for how institutional capital can finance verified CDR at scale.

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Financing Carbon Removal at Scale

Gigaton-scale carbon removal requires financing that can scale deployment beyond equity alone. This agreement was designed to do that, with downside protection backed by an existing carbon removal agreement to remove more than 28,500 tonnes of CO₂ between 2026 and 2028. The financing also includes carbon delivery insurance provided by CFC, covering specified project delivery risks for a defined portion of the delivery. CFC is a specialist insurance provider supporting high-quality carbon market transactions, and the Howden Broking Group provided broking service to InPlanet for this transaction.

The financing decision was supported by InPlanet’s operating track record, including more than 200,000 tonnes of silicate rock applied across Brazilian farmland. This delivery is enabled by Bedrock OS, InPlanet’s AI-powered operating infrastructure, which supports project execution across its portfolio and consolidates logistics, farm, and laboratory data into auditable records for reporting. Each project strengthens the underlying dataset and AI models used to optimize delivery and scale ERW.

By linking capital to contracted demand, insured delivery, and the operational infrastructure required to execute at scale, the structure demonstrates how high-integrity carbon removal can be financed like infrastructure and replicated across projects, regions, and buyers as the market matures.

For Idemitsu, the partnership forms part of a broader strategy to expand its role in carbon markets as it works toward a carbon-neutral society by 2050. As global demand grows for permanent, measurable, and verifiable removal solutions, Idemitsu is deepening its engagement with durable CDR pathways, with ERW emerging as an area of focus due to its potential for scale.

"InPlanet's work in Brazil combines scientific rigor with real operating scale, which is what durable carbon removal needs in order to move beyond pilots,"said Masanori Abe, President of Idemitsu Americas Holdings Corporation." By linking capital to contracted demand and insured delivery, this agreement demonstrates a financing approach we expect to be repeatable. IAH looks forward to building on it as we expand our CDR business."

Today, InPlanet operates Brazil's largest ERW program by farmland treated, with access to more than 100,000 hectares through its partners. Working with farmers nationwide, InPlanet applies finely ground silicate rock to agricultural land, accelerating a natural process that permanently captures atmospheric carbon while restoring soil fertility, reducing chemical input costs, and strengthening long-term farm profitability. In December 2024, InPlanet delivered the world’s first independently verified ERW carbon removal credits, which subsequently received a post-issuance “A” rating from BeZero Carbon.

"In just two years, we went from delivering the world's first independently verified enhanced rock weathering credits to operating the largest ERW program in Brazil. This financing with Idemitsu takes that work to its next level, it shows that carbon removal grounded in solid science can also be financed like real infrastructure," said Felix Harteneck, Founder & CEO of InPlanet. "For us, this is about more than capital. Japan is continuing to develop its carbon market and standards for high-integrity carbon removal, and we look forward to contributing to that dialogue."

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Compliance Demand in Japan and Brazil

Idemitsu and InPlanet will focus on markets where climate ambition and carbon market infrastructure are advancing in step. Japan is continuing to develop its carbon market framework and policies supporting high-integrity carbon removal. Any future use of ERW credits would remain subject to applicable methodologies, regulations, and eligibility requirements. In Brazil, Law 15.042/2024 established the SBCE (Brazilian Greenhouse Gas Emissions Trading System), putting removals on the same legal footing as avoided emissions. Both markets are opening compliance pathways for durable carbon removal, creating long-term, regulated demand for credits that have until now relied almost entirely on voluntary buyers.

Idemitsu and InPlanet will focus on markets where climate ambition and carbon market infrastructure are advancing together. In Japan, the carbon market framework and policies for high-integrity carbon removal continue to evolve, although any future use of ERW credits will remain subject to applicable methodologies, regulations, and eligibility requirements. In Brazil, Law 15.042/2024 established the SBCE (Brazilian Greenhouse Gas Emissions Trading System), placing carbon removals on the same legal footing as avoided emissions. Together, these developments are creating new compliance pathways for durable carbon removal and the potential for long-term, regulated demand beyond the voluntary carbon market.

Idemitsu and InPlanet intend to use the facility as a template for further financings, across new projects, new buyers, and the compliance markets now taking shape in Japan and Brazil. The structure allows additional lenders to participate on the same basis. The aim is not a one-off transaction, but to establish a precedent for financing carbon removal in the same way as infrastructure is financed. 

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About Idemitsu Americas Holdings 

Idemitsu Americas Holdings Corporation (“IAH”) is a wholly owned subsidiary of Idemitsu Kosan Co.,Ltd. (“Idemitsu”), headquartered in Tokyo, Japan. Founded in 1911, Idemitsu develops, manufactures, and sells a wide range of energy products and materials across several fields, including petroleum, basic chemicals, functional materials, power and renewable energy, and resources. Under its Medium-Term Management Plan for fiscal years 2026–2030, the company is working toward the realization of a carbon-neutral and circular society. While strengthening the foundations of its existing businesses, Idemitsu is also creating and expanding new businesses and scaling up low-carbon and decarbonization initiatives.

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About InPlanet

InPlanet is an AgTech company pioneering Enhanced Rock Weathering (ERW) as a scalable pathway for durable carbon dioxide removal and regenerative agriculture. By applying finely crushed silicate rock to tropical soils, InPlanet accelerates natural weathering to remove CO₂ while improving soil health, supporting crop productivity, and reducing reliance on agricultural inputs. Its operations are powered by Bedrock OS, InPlanet’s proprietary digital infrastructure layer. Founded in 2022, InPlanet operates across Brazil and Germany, with more than 70% of its team based in Brazil. In December 2024, InPlanet delivered the world’s first independently verified ERW carbon removal credits, which subsequently received a post-issuance “A” rating from BeZero Carbon.

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