June 16, 2024

New Funding Bolsters Planboo’s Quest to Track and Scale Biochar Production in Tropical Regions

2 min read
Planboo Secured $1.1M in Funding to Expand Biochar Production Through MRV Technology

Planboo, a new carbon removal company that was founded in 2020, is focused on tracking and expanding biochar production in tropical regions. Recently, the company reached a significant milestone by successfully closing its latest funding round, raising over $1.1 million. The investors who supported the funding round include Katapult, Silverstrand Capital, Rockstart, Imaginal Seeds, and 8+ Ventures.

Planboo’s approach to biochar production involves using its digital MRV technology to transparently monitor the entire process. This technology is adaptable to different types of kilns and biomass, making it easier for projects to be scaled up in various tropical locations simultaneously. The investment in Planboo reflects trust in the company’s ability to unlock biochar carbon removal credits from remote tropical regions.

The company’s digital Measurement, Reporting, and Verification (dMRV) tool facilitates remote tracking and auditing of biochar production and application on the ground. This tool saves time on tracking and minimizes human errors while ensuring transparency in the supply chain. Additionally, Planboo utilizes hardware in the form of an IoT Greenbox to automate data collection from biochar production sites, enabling real-time verification of carbon credits from any location.

Investors like Carl Strøm Walton from Katapult VC and Ann Goh from Imaginal Seeds have expressed optimism about Planboo’s potential in the Artisan Biochar space. They believe that Planboo’s MRV technologies will help decentralize biochar production processes and allow more farmers to benefit from the emerging biochar carbon credit market. With a mission to remove 1 billion tonnes of CO2 by 2050, Planboo is determined to be a leader in the biochar industry.

Overall, Planboo’s innovative approach to tracking and expanding biochar production has caught the attention of investors who see its potential as a key player in the burgeoning carbon removal industry. As demand for carbon credits grows alongside concerns about climate change mitigation efforts around the world, companies like Planboo are poised to play an important role in helping countries reduce their emissions levels significantly over time.

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