Open Forest Protocol, High Integrity Carbon Credits Innovator, Closes Seed Round
● Open Forest Protocol allows for the creation of fully digital, high integrity and verifiable carbon credits at no up front cost to forest projects of any size, anywhere in the world, creating a robust natural asset pipeline.
● Building the foundation for inclusive, scalable, and data backed carbon financing for all project operators by linking the supply and demand ends of the Voluntary Carbon Market (VCM) as a fully blockchain based system.
● Seed round completed with prominent investors to pave the way for long-term development with sustainability-driven companies, collaboration with national governments worldwide, and the initiation of dozens more projects to the protocol.
ZUG, Switzerland, September 10, 2024 – Open Forest Protocol (OFP) is a complete digital overhaul for the verification and issuance of carbon credits by offering carbon developers a no upfront cost, open source, and network based verification system that allows them to bring transparent, verifiable, and valuable carbon credits to market. Today OFP announced it has raised a successful financing seed round led by Übermorgen Ventures and supported by Backbone Ventures and GS Futures as well as prominent foundations.
Bloom Foundation, NEAR Foundation, and Fondation Valery joined the round in a wave of institutional support from the climate and technology sectors to support the protocol. Open Forest AG board members Myke Näf, co-founder and managing partner at Übermorgen Ventures, Ines Najorka, partner at Bloomhaus Ventures AG, and Tibère Adler, entrepreneur and co-founder of Heidi.news, will be vital to the development of Open Forest Protocol and the future of on-chain natural assets.
Founded in 2021, OFP hosts over 140 afforestation, reforestation, and regeneration projects worldwide on the blockchain-based Atlas Explorer product. View the lifecycle of carbon credit generation, from project inception and appearance on the Atlas to the upload, verification, issuance, and offset of the credit in question.
Currently in collaboration with two national governments, the scalability of Open Forest Protocol allows for large national forest projects and local, small landowners alike to access global carbon markets with a low-cost, efficient system.
The value chain is lengthened to reach organizations, companies, and institutions directly from vital stewards of the land on the ground.
Co-founders Frederic Fournier, Aureline Grange, and Michael Kelly converged from the climate and Web3 sectors, combining expertise in environmental science and engineering with Web3 and blockchain knowledge. The current team hails from over four continents, bringing diverse and passionate skills to Open Forest Protocol.
“The strong support of investors experienced in our seed round is a validation of both our vision and strategy. Only an equitable, truthful system backed by immutable, open data will truly value forests on the ground as well as in the voluntary carbon market. We must act together to fight for our planet and give value to nature.”- Fred Fournier, Open Forest Protocol CEO
ABOUT OPEN FOREST PROTOCOL
Open Forest Protocol is an open forest measurement, reporting and verification platform built on a carbon neutral blockchain. As a public protocol, OFP has its legal seat in Zug, Switzerland, a team of developers in Ukraine, on the ground specialists in East Africa and Central America, engineers and economists in the USA, legal and managing execs in Western and Northern Europe.
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Creating the highest integrity and most verifiable nature-based carbon credits, at scale.
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