Carbon News$7M Seed Round Raised by Evergrow

$7M Seed Round Raised by Evergrow

Evergrow has raised a $7M seed round. As one of the world’s first carbon offtake company, Evergrow’s goal is to provide offtake contracts and financing for projects that avoid, capture, or remove carbon emissions.

This seed round, which was co-led by Rodd Fubini at XYZ and Abe Yokell Congruent, will only strengthen Evergrow’s mission as they look to reach their goal of permanently avoiding or removing 1 billion tons of carbon by 2030. They hope to scale to 1 billion tons per year shortly after that.

According to Evergrow’s Co-Founder and CEO, James Richards, “It’s no secret that we urgently need to decarbonize our economy and remove tens of billions of tons of carbon emissions from the atmosphere to combat and reverse climate change.

This will require the deployment of trillions of dollars worth of new infrastructure projects, from clean power plants to alternative fuel refineries to direct air capture facilities and more. The faster we build these projects, the better we will fare in our fight against climate change.”

Many critics feel that the carbon market needs improvement since the lack of standards misrepresents credit quality. Though these concerns are valid, the industry is changing (and for the better).

The carbon market is becoming far more transparent than it has ever been. Plus, there have been talks of enacting a global standard for verifications for quite some time.

Evergrow plans to use their technology, data, and finance to deliver high-quality offtake contracts for carbon commodities. This way, they can pay people to reduce and remove carbon emissions while monetizing their carbon commodities. Richards hopes this will unlock additional financing for carbon reduction and help transition the globe into carbon neutrality.

The round included funds from First Round Capital, Garuda Ventures, Skyview Ventures, My Climate Journey, Zach Perrett (CEO, Plaid), Max Mullen (Co-founder, Instacart), Justin Kan (Co-founder, Twitch), Peter Reinhardt (CEO, Charm Industrial), Maddie Hall (CEO, Living Carbon), Michael Tanenbaum (CFO, Brex), Erica Dorfman (SVP Capital Markets, Brex), Karen Karniol-Tambour (Co-CIO for Sustainability, Bridgewater Associates), and others.

The voluntary carbon market is expected to be valued at $100 billion by 2030 – up from $300 million in 2018.

Richards went on to say that Evergrow is “assembling the world’s best team in climate technology and finance. The climate crisis is an existential threat to all of us, and we’re betting on humanity to win.”



Most Popular



Ultimate Guide



Loading...



LATEST CARBON NEWS

A Battery ‘2X Better’ than Tesla’s Is Reshaping the $90B Home Power Storage Market

Disseminated on behalf of StorEn. Demand for home energy storage is booming, with up to 47% of US homes expected to have rooftop solar installations...

Why Madsen Will Work This Time: A Smarter Start for a Legendary Gold Mine

Disseminated on behalf of West Red Lake Gold Mines Ltd. The Madsen Mine, located in Ontario’s renowned Red Lake gold district, has a legacy of...

Goldman Sachs Launches Green Bonds ETF for Emerging Markets

Goldman Sachs Asset Management (GSAM) has launched its new Emerging Markets Green and Social Bond Active UCITS ETF, known as GEMS. This ETF focuses...

Palantir (PLTR Stock): AI for Carbon Neutrality – A Software Giant’s Sustainable Footprint in 2025

Palantir Technologies (NYSE: PLTR) has stood out among AI companies by achieving carbon neutrality across its global operations in 2024. Palantir is cutting emissions...
CARBON INVESTOR EDUCATION

Planting Trees for Carbon Credits: Everything You Need to Know

As climate change intensifies, nations and industries are seeking innovative ways to cut carbon footprints. Carbon credits have emerged as a key tool in...

What is SMR? The Ultimate Guide to Small Modular Reactors

Energy is the cornerstone of modern life. We need electricity for healthcare, transportation, communication, and more. Many countries are choosing nuclear power because it...

What Is Carbon Dioxide Removal? Top Buyers and Sellers of CDR Credits in 2024

The world must remove 5–16 billion metric tons of CO₂ annually by 2050 to limit global warming to 1.5°C. But with emissions still rising,...

Top 5 Carbon ETFs for Sustainable Investing in 2025

Like stocks, investors can buy and sell Exchange-Traded Funds (ETFs) whenever the market is open. Often investing in carbon credits through ETFs offers a...