Board approves AgriCapture as qualified carbon‑project developer under state program

The board voted to qualify AgriCapture as a carbon project developer under the State Land Board’s biological carbon program. The approval authorizes staff to work with AgriCapture on program development; the board did not approve any specific parcel enrollment at this meeting.

Staff described AgriCapture’s method as an avoided‑conversion protocol that targets grasslands and rangelands with at least 10 years of no‑tillage history and a demonstrable threat of conversion. Under the protocol, payments compensate the trust for the opportunity cost of long‑term protection; because the method monetizes the avoided loss of existing soil carbon, staff and the developer said it can yield larger immediate credit volumes than some practice‑based soil carbon methods. AgriCapture’s approach also requires a land‑use commitment intended to provide credit durability: the protocol calls for a 40‑year protection term for enrolled lands, with defined termination “off‑ramps” that require either replacement lands or the purchase of replacement credits if a parcel is converted before the term ends.

Tyler Hoell, AgriCapture’s CEO, told the board the protocol does not require direct soil sampling (reducing cost) and that modeling uses soil suitability, rainfall history and expected carbon loss from conversion to quantify avoided emissions. He said the methodology includes monitoring for grazing practices to avoid reversals from overgrazing.

Staff emphasized the distinction between qualifying a developer and approving specific land enrollments: the board’s action recognizes AgriCapture as a vetted partner, but individual properties will still require staff review and board approval where land‑by‑land decisions are necessary. Commissioner questions focused on revenue sharing and whether producers would receive direct payments; staff said that for avoided‑conversion projects structured this way the state trust receives the net carbon revenue and producers retain the underlying lease income and stability from long‑term protection, rather than direct carbon payments.

The board adopted the draft order contained in the packet; the motion passed by roll call (all voting members present recorded yes).