One of the largest private equity companies in the world is behind a carbon removal startup putting carbon credits on the blockchain. But, why?
What’s happening:
- Swedish carbon removal startup Net Zero Company has raised $5.5M USD in a seed round
The big idea:
- Net Zero Company is focused on nature based carbon removal projects which produce high quality carbon dioxide removal credits
- Those carbon credits are then verified and put onto the blockchain through the Net Zero Company's native digital asset token
- Net Zero Company’s token is built on the Ethereum blockchain and is accessible globally
Why it maters:
- Carbon credits continue to be in high demand, with technology giants making record breaking purchases and countries such as Denmark beginning to ramp up government funding
Going deeper:
- Net Zero Company has multiple notable backers, including private equity giant The Carlyle Group (NASDAQ: CG) and fuel company OilInvest Group
The intrigue:
- Microsoft (NASDAQ: MSFT) previously announced a collaboration with Net Zero Company to explore ways to leverage Microsoft’s technologies to accelerate innovation around carbon dioxide removal credits becoming a real world asset
