Though the economy flags, there are more eyes than ever on clean tech and climate change. That is why CarbonFlow,
a software company working to bring transparency to the emerging carbon market, just gained a nice fat check from venture capitalists. CarbonFlow is turning that investment right around and putting it into the carbon market.
This morning @Ventures says it has invested in carbon market software startup CarbonFlow, joining previous investors Clean Pacific Ventures, OVP Venture Partners and Meridian Energy. We heard from a source close to the company that @Ventures’ investment was around $1 million.
CarbonFlow’s software will help participants in the carbon market work with one another, keep track of projects, and validate carbon-reducing projects. And with the carbon market just kicking off, this kind of software will be vital to ensuring that the good intentions aren’t just fluff.
With additional funding for CarbonFlow, it will speed up the implementation of their software, and, hopefully, the functionality of the carbon market.
CarbonFlow sees the potential — the company says its software is designed to meet Kyoto standards including registration, verification, certification and monitoring, and the startup has also partnered with Norwegian firm DNV, which was one of the first companies to be accredited by the UN to verify greenhouse gas reductions from projects in the developing world.
More on the Carbon Market:
Carbon Offset Watch Ranks the Voluntary Carbon Market
The Rising Value of the Global Carbon Market
Investment Bankers = Carbon Traders: Entrusted With Earth's Future?
Schwarzenegger Invites Global Leaders to Talk Carbon Caps