Agreena gets Verra verification for 2.3 million soil carbon credits from European farms, at an undisclosed price

September 2025 — Agreena said on Sept. 15, 2025 that its AgreenaCarbon Project had passed Verra verification and that it was issuing 2.3 million Verified Carbon Units from European farmland, covering 2021 to 2023. Here's what happened, what it cost, and what went wrong.

Cost and outcome (as of Sept. 15, 2025, with a December 2025 update)

Outcome: 2.3 million VCUs issued under VM0042 v2.0, Agreena says, after validation in January 2025. (Agreena, Sept. 15, 2025)
Cost: price not disclosed; CEO Simon Haldrup declined to share it, Trellis reported. (Trellis, Sept. 2025)
Claimed impact: 1.2 million tonnes of CO₂ reduced and 1.1 million tonnes removed, per Agreena. (Agreena, Sept. 15, 2025)
Buyers: 15 companies, including Radisson Hotel Group and Ryanair, Haldrup told Trellis. (Trellis, Sept. 2025)

What was verified

Agreena says verification under Verra's Verified Carbon Standard followed the project's validation in January 2025. Validation checks the project design; verification, through independent assessment, checks that it delivered the claimed outcomes. (Agreena, Sept. 15, 2025)

The project enrolls 1.6 million hectares of regeneratively farmed land in the UK, Denmark, Ukraine, Moldova, Romania, Lithuania, Latvia, Estonia, Bulgaria and Spain, Agreena says. (Agreena, Sept. 15, 2025) Trellis described it as close to 4 million acres over three years, with practices including cover crops and reduced tillage. (Trellis, Sept. 2025)

"It spans vast areas of land across multiple countries in Europe - from Ukraine to Spain," Verra CEO Mandy Rambharos said in Agreena's release. (Agreena, Sept. 15, 2025)

How it's measured and sold

Haldrup told Trellis that soil carbon fits corporate buyers "from a carbon and integrity perspective," and on price. He said Agreena took 200,000 soil samples the previous year and collected 100 data points from each field, including crops planted, tillage and fertilizer use, with satellite imagery used to confirm where and when crops were planted. (Trellis, Sept. 2025)

Rather than sign long-term offtake agreements, Agreena would rely on spot-market sales for now, Trellis reported. (Trellis, Sept. 2025) Trellis noted that Indigo Ag's Ewan Lamont had told it in May that Indigo's most recent credits cost $60 to $80 a ton, which gives a reference point but not Agreena's price. (Trellis, Sept. 2025)

Trellis also reported that soil models still face questions, because soil sampling is the most accurate method but too expensive to carry out on every field. (Trellis, Sept. 2025)

Update, Dec. 16, 2025

Agreena said it had doubled its corporate customer base in 2025, adding Ryanair, Radisson Hotel Group and Louis Dreyfus Company. (Agreena, Dec. 16, 2025)

It said the project earned an 'A' rating from MSCI Carbon Project ratings and a BBB pre-rating from BeZero Carbon. (Agreena, Dec. 16, 2025)

Agreena says farmers receive up to 85% of carbon credit revenue, that it has paid more than €15 million to farmers, and that farmer retention was 95% across three program years. (Agreena, Dec. 16, 2025) UK farmers reported cost savings and strong yields after an initial adjustment period, Agreena said, without giving numbers. (Agreena, Dec. 16, 2025)

What went wrong

Years of delay. Trellis described soil carbon as a field that "previously promised more than it delivered," with delays as registries took longer than expected to approve projects. (Trellis, Sept. 2025)
No price. Agreena didn't disclose a price, so the revenue reaching farmers can't be checked against the 85% figure.
Transition costs. Agreena acknowledged that results typically follow an initial period of adjustment and investment by farmers. (Agreena, Dec. 16, 2025)
Model uncertainty. Questions remain about the long-term capacity of soils to store carbon and the reliability of the models, Trellis reported. (Trellis, Sept. 2025)
What we don't know yet: the price, and how many of the 2.3 million credits have been sold or retired.

Our follow-up question for Agreena

What price have the 2.3 million credits sold at on the spot market, and how many have been retired?

Sources

Agreena, “The AgreenaCarbon Project achieves Verra verification,” Sept. 15, 2025. agreena.com
Trellis (Jim Giles), “Radisson Hotels and Ryanair are among buyers for huge soil carbon credit release,” Sept. 2025. trellis.net
Agreena, “Agreena accelerates corporate adoption of regenerative agriculture as it doubles its customer base in 2025,” Dec. 16, 2025. agreena.com

Disclosure: [not in copy] Editor placeholder