New Carbon Removal Marketplace Carbonfuture Promises Reliable Credits

New Carbon Removal Marketplace Carbonfuture Promises Reliable Credits - Carbon Herald

Carbonfuture is a new marketplace and platform for collecting, managing and trading carbon removal certificates, founded in 2020. The marketplace stands out from the crowd of similar initiatives that offer carbon offsets and removals with its determination and promise to be “carbon removal you can trust.”

Back in 2021, the startup attracted an investment of $2.8 million in seed funding from Übermorgen Ventures – an early-stage venture capital firm for climate tech startups, Seed + Speed Ventures, Wi Venture, and additional business angels. The capital would be used by the company to enable climate impacts on an industrial scale and fulfill its goal of removing gigatons of CO2 from the atmosphere.

The startup aims to address a critical issue in the carbon marketplace space – carbon credits and offsets being open to misuse, lacking the credibility and trustworthiness of actually removing or offsetting emissions. 

Relevant: What Are Carbon Dioxide Removal Marketplaces And How Many Are There?

Carbonfuture aims to offer efficiency and traceability for its platform and focuses on carbon removals rather than carbon offsets. The company wants to deliver credibility and trustworthiness right from the start and eliminate any doubts about dubious practices that are often associated with the industry. The company also has joined the Climeworks direct air capture facility in Iceland in order to push the carbon capture sector in the right direction.

Relevant: World’s First Commercial Direct Air Capture Plant Launches September 8th

Carbonfuture’s promise is that one carbon future credit corresponds to one ton of CO2 being safely removed from the atmosphere for a minimum of 100 years. “Companies can offset their residual emissions with us; we offer financial revenues and incentives to suppliers of sinks as well as biochar producers to build and expand their climate protection activities. Together, we can set a standard for the entire evolving industry,” explains CEO Dr. Hannes Junginger. 

According to him, the path towards net zero is difficult and could only be managed through cross-sector collaborations. He also adds that going forward, the company wants to add more team members and carbon dioxide removal suppliers to achieve its ambitious targets.

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