Australia's clean technology investment agency is taking a punt on an ambitious venture to tackle climate change, planting soil microbes in farm paddocks to capture carbon from the atmosphere and reduce global warming.
The Clean Energy Finance Corporation will invest $1.7 million in biotechnology developer Soil Carbon Company, which is working on a treatment for grass and crop seeds. The company's funding drive attracted $10 million in total. The Clean Energy Finance Corporation is investing $1.7 million in a company that is developing a seed technology to boost carbon capture in farm soils.It will put the funds toward commercialisation of a product, based on existing technology, that treats seeds with microbial fungi and bacteria. The treatment is designed to change the way the seed reacts with the soil, and increase the amount of carbon it captures from the air and sequesters in the ground as it grows into a crop.
"Australian farmers are keen early adopters of technology and look to science to improve the productivity of their land," Clean Energy Finance Corporation chief executive Ian Learmonth said.Soil Carbon Company's research has a long way to go but the CEFC has a remit under its $200 million Clean Energy Innovation Fund to invest in early stage research.
Among a range of emissions reduction methods funded by the federal government's $2 billion Climate Solutions Fund, farmers can get paid for sequestering carbon in their soil. However, accurately measuring farmers' soil carbon sequestration among the myriad other factors which affect soil chemistry has blocked widespread uptake of the scheme.of soil carbon projects had been funded since 2015.
Oh FFS! Anything but cutting emissions!
throwing good money after bad . . . bureaucrats in charge!
climateHoax
Could Fairfax please not promote illogical schemes which have proven, over multiple attempts, not to work?
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