Google Buys 1M Methane Credits from Indian Startup | Tech News

0:00It's September 10th. This is Tech News Today, powered by AI, your innovation update. I'm Cory with the story. Google just made a huge move in the climate tech space, agreeing to purchase 1 million carbon credits from an Indian startup called Midi Labs. This deal, set to run through 2030, is being called the biggest public announcement yet for credits specifically from reducing methane in. Rice farming. Midi Labs has already been doing some serious work, saving over 500 billion liters of water in the last two years alone. This partnership with Google is a game changer for Midi Labs, giving them the backing and scale to work with even bigger corporate clients. Google, known for its thorough checks, really dug into Midi's monitoring tech and even visited farms before signing off. Midi, which is pretty new, founded just last year, uses a cool GOAI platform that blends satellite data with on-the-ground measurements to keep tabs, on crops and water levels. The impact of this deal goes beyond just numbers.

1:02It shows confidence from a major tech player in the innovative methods Midi Labs is employing. The credits themselves are certified by reputable bodies like gold standard and esometric, and undergo strict third-party verification so you know they're legitimate. This also means more resources can flow back to the farming communities involved. Midi Labs isn't just focused on India though. While this Google deal is specific to their Indian operations, they're already planning to expand into the Philippines later this year, and then into. Other Southeast Asian markets by 2027. This shows a clear vision for global impact, building on their current work with over 100,000 farmers and aiming for millions by 20. 30. This isn't Google's first rodeo in India's climate efforts either. We've made other significant investments, including a deal for carbon credits from biochar production and expanding their solar energy partnerships. It's clear they're committed to supporting climate solutions in the region through various avenues from agriculture to renewable energy.