Verde AgriTech Ltd. announced that it has successfully advanced to Phase 2 of the incentive prize in history, XPRIZE $100 million Carbon Removal Challenge (the "Challenge"). This challenge seeks innovative solutions to extract and sequester carbon dioxide from the atmosphere, fighting climate change and rebalancing Earth's carbon cycle. Verde has delivered an ambitious proposal to develop one of the world's carbon capture projects through Enhanced Rock Weathering ("ERW") - a natural weathering process that involves the sequestration of carbon dioxide from the atmosphere by crushing and spreading reactive rock material on land.

Backed by Elon Musk and the Musk Foundation, XPRIZE launched the Challenge to inspire and help scale efficient solutions to combat climate change, restoring the Earth's carbon cycle. The Challenge seeks innovative methods to capture carbon dioxide directly from the atmosphere or ocean and lock it away permanently in an environmentally benign way. The competition has drawn attention from around the world, with numerous companies vying for the opportunity to showcase their carbon removal solutions.

Verde's selection to Phase 2 stands as a testament to its innovative approach, commitment to sustainability and potential to contribute meaningfully to a more sustainable future through its carbon capture technology.