Mitti Labs signs deal with Google for 1 million carbon credits
Climate tech startup Mitti Labs has entered a four-year agreement with Google to supply 1 million carbon credits by 2030.
Climate technology startup Mitti Labs has signed a four-year agreement with Google to supply 1 million carbon credits by 2030. The company described the deal as one of the largest nature-based offtakes to date.
The financial terms of the agreement have not been disclosed. Mitti Labs stated that the deal is a fixed contractual offtake covering 1 million credits, to be delivered between 2027 and 2030. Payments will be made upon delivery of the verified carbon credits, with no upfront financing involved.
The credits will primarily be generated from Mitti Labs' rice farming projects located in the Indian states of Andhra Pradesh, Telangana, and Karnataka. The startup currently has programs covering over 100,000 hectares of farmland in India.
Xavier Laguarta Soler, co-founder of Mitti Labs, said the agreement validates the quality and scalability of their projects and will help expand their operations in India. The company is also aiming to expand into Southeast Asia.
Kate Brandt, Google's chief sustainability officer, highlighted that Mitti Labs' approach can cut methane emissions while conserving water and helping smallholder farmers adopt more efficient irrigation practices.