A Swedish start-up that’s utilizing blockchain expertise to confirm carbon seize and removing has raised $5.5 million to launch a digital token and to develop globally.
Internet Zero Firm is led by Hakan Nordkvist, its chief govt, who beforehand spent greater than ten years as head of sustainability innovation at Ikea and is an adviser for the Cover, Cambridge College’s accelerator. Its new buyers embody Oilinvest Group, a Dutch firm, and Varo Vitality, a Swiss vitality enterprise.
The funding might be used to launch the corporate’s carbon removing tokens, every of which symbolize a tonne of sequestered carbon dioxide from nature-based tasks, with full traceability by means of blockchain expertise.
Final yr, 37 billion tonnes of CO₂ had been emitted globally by burning fossil fuels. For industries
