- VC Firms Andreessen Horowitz, General Catalyst and Samsung
Next, to name a few, backed the latest large deal that is drawing
attention to the carbon credit industry
- Flowcarbon's ability to raise US$70
Million demonstrates a growing level of interest the
tokenization of carbon credits and is expected to facilitate the
evolution of the already large asset class
- The voluntary carbon market is growing and is believed to be
one of the best solutions to reduce global CO2
emissions
CALGARY,
AB, June 2, 2022 /CNW/ - DeepMarkit Corp.,
("DeepMarkit" or the "Company") (TSXV: MKT) (OTC: MKTDF) (FRA:
DEP), a company focused on transitioning the global carbon offset
market to the more accessible digital economy by minting credits
into non-fungible tokens ("NFTs"), is pleased to
spotlight the recent US$70 Million
financing by Flowcarbon Inc. ("Flowcarbon") (the
"Financing") as it further validates the tokenization of the
carbon credit industry that DeepMarkit has been pursuing since the
inception of its wholly owned subsidiary, First Carbon Corp., and
the development of its MintCarbon.io platform. The Financing have
given a boost to the emerging industry as well as DeepMarkit's
credibility via its plan to increase the transparency of the
historically opaque carbon credit markets, all while combating
climate change.
Bringing carbon credits on-chain adds major efficiencies to the
market, enabling individuals and corporations to internalize the
cost of emissions, reducing negative externalities that are
currently socialized, and ultimately incentivizing more sustainable
practices.1 The world's economies are projecting that
voluntary carbon markets are one of the best solutions to reduce
CO2 emissions.2 It is also apparent that
stakeholders are showing immense interest in carbon market
investing, which is expected to only add to the growth of the
industry.2 With substantial interest from around the
world and a high expected growth trajectory, the Company is focused
on decentralizing the fight against climate change while working to
generate positive returns on investment for shareholders over the
long term.
Flowcarbon is a carbon credit start-up that was co-founded by
Adam Neumann – the former CEO of
WeWork Inc. – and his wife Rebekah
Neumann, along with its CEO Dana
Gibber and two others – Caroline
Klatt and Ilan Stern.
Flowcarbon operates in the voluntary carbon market with Web3,
focusing on influencing the blockchain to scale climate change
solutions. Despite part of the Financing being sourced from the
sale of Flowcarbon's carbon-backed token, Goddess Nature Token, the
amount of capital raised shows that investors strongly believe in
the modernization of the carbon credit market. Venture capital
firms that participated the Financing include:
- Andreessen Horowitz's crypto arm known as a16z, is a venture
capital firm that supports entrepreneurs focused on building the
future through technology. It was founded in Silicon Valley in 2009
by Marc Andreessen and Ben Horowitz;
- General Catalyst Partners, founded in 2000, is a venture
capital company that invests and partners with companies that it
believes will create a long-lasting and positive impact on the
world;
- Samsung Next, a venture capital and private equity company
founded in 2012, invests in bold and ambitious founders while
striving to make a difference in the world; as well as
- Other investors including Invesco Private Capital, 166
2nd Financial Services, Sam and
Ashley Levinson, Kevin Turen,
RSE Ventures and Allegory Labs LLC.
"The recent US$70 million
Financing further validates the industry and the specific utility
of minting carbon credits into NFTs on the blockchain," said
Ranjeet Sundher, Interim CEO of
DeepMarkit. "A deal like this is significant and demonstrates that
there is a long list of individuals, venture capitalists and
companies like DeepMarkit that believe in using technology and
smart contracts to help reduce CO2 emissions and create
a better future for our world," added Mr. Sundher.
ABOUT DEEPMARKIT
DeepMarkit Corp. is a company focused on democratizing access to
the voluntary carbon offset market by minting credits into NFTs.
Its common shares are listed on the TSX Venture Exchange under the
"MKT" stock symbol. DeepMarkit's wholly owned subsidiary, First
Carbon Corp. ("FCC"), is a software infrastructure company
operating in the tokenization vertical of the blockchain. FCC's
primary asset, MintCarbon.io, is a web-based, software-as-a-service
platform that facilitates the minting of carbon credits into NFTs
(based on the ERC-1155 standard) or other secure tokens (based on
the ERC-20 standard). MintCarbon.io is currently undergoing testing
and FCC anticipates an official launch of the platform in the near
future.
On behalf of:
DEEPMARKIT CORP.
"Ranjeet Sundher"
Ranjeet Sundher, Interim CEO
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
ENDNOTES
- "Investing in Flowcarbon," Arianna
Simpson, Future from a16z, May
24, 2022,
https://a16z.com/2022/05/24/investing-in-flowcarbon/
- "The Carbon Market is Booming: 5 Must-Have Green Stocks for
2022," Rovena Gjoni, Dutch Green
business, March 28, 2022,
https://www.dgb.earth/carbon-offset-blog/carbon-green-stocks
SOURCE DeepMarkit Corp.