Patch raises $4.5 million for negative emissions platform, democratizing access to carbon removal options
Summary
Using Patch, businesses can seamlessly purchase negative emissions from projects that specialize in concrete mineralization, direct air carbon capture, improved forest management, biochar, and more. Patch makes it possible for companies to buy as little as a gram of carbon removal at a time, with a “pay-as-you-go” model that does not require a large output of money upfront nor minimum orders. Patch’s algorithm takes into account length of trips and modes of travel or delivery (i.e. plane, car) to calculate the amount of carbon that needs to be neutralized. A July study revealed that 79% of consumers are changing their purchase preferences based on a company’s or product’s approach to social responsibility, inclusiveness, or environmental impact. “An increasing number of businesses are taking leadership positions in an effort to reduce emissions to try to counteract global warming,” said Jeff Jordan, Managing Partner at Andreessen Horowitz.
Funding
Review available funding amount, funding date, investors, and linked company information related to Patch raises $4.5 million for negative emissions platform, democratizing access to carbon removal options in the interactive ISVWorld profile.