Flowcarbon

Flowcarbon is a climate finance and technology firm founded in 2021 by a team that includes sisters Dana Gibber and Caroline Klatt, along with Adam and Rebekah Neumann, and Ilan Stern. The idea was conceived within the Neumann's family office after recognizing that philanthropic contributions alone were insufficient to combat deforestation. Gibber, the CEO, is a lawyer with a background in technology cases, and Klatt, the COO, previously worked at McKinsey and the startup Fab.com; the sisters had also co-founded and sold a software company together.

The company's initial, highly-publicized mission was to build infrastructure for the voluntary carbon market (VCM) by tokenizing carbon credits on the blockchain. This model aimed to solve common VCM issues like opacity and illiquidity by converting certified carbon credits into tradable tokens, thereby democratizing access and improving price transparency. In May 2022, Flowcarbon announced a significant $70 million funding round, comprised of $32 million in venture capital led by Andreessen Horowitz (a16z) and $38 million from the sale of its carbon-backed Goddess Nature Token (GNT). The GNT was designed to be a digital asset backed 1:1 by a bundle of certified, nature-based carbon credits, allowing holders to trade, borrow against, or retire them as offsets.

However, the company faced headwinds. The much-anticipated public launch of its GNT token was paused indefinitely, citing turbulent market conditions and a lack of support from major carbon credit registries like Verra, which had banned the tokenization of retired credits over concerns of double counting. Consequently, Flowcarbon began quietly refunding purchasers of its GNT token.

Adapting its strategy, Flowcarbon has since broadened its focus to become a more comprehensive carbon finance firm. The business now offers structured financial products, project finance, and bespoke capital solutions for companies in decarbonization, infrastructure, and other emerging sectors. It also provides customized placement services for transferable renewable energy tax credits, connecting project developers with corporate buyers. Flowcarbon's client base includes project developers, who gain access to debt financing and capital markets expertise, and sophisticated investors like family offices and private credit funds looking to invest in engineered carbon removal projects. For corporate clients, the company offers tailored carbon credit portfolio management services, providing access to a wide range of credit types.

Keywords: carbon finance, project finance, voluntary carbon market, carbon credits, tax credits, decarbonization, structured finance, climate technology, carbon removal, environmental commodities