We are excited to announce that PLENO has become our most recent addition to our investment track record. PLENO is a platform that combines machine learning and blockchain technologies to simplify the carbon credit creation process.
Why we invested in PLENO
There is a growing trend of net-zero emissions targets among various companies and governments. These targets require them to offset their emissions as part of their efforts. The voluntary carbon market is also experiencing noticeable growth, allowing companies and individuals to trade carbon credits. This market's expansion is a response to the increasing awareness of the importance of addressing climate change. Carbon credits not only aid in emission reduction but also offer financial support for climate change mitigation projects. The market value reached $2 billion in 2021, a significant increase from 2020, and it is projected to reach between $10 billion and $40 billion by 2030, according to research by Boston Consulting Group.
The growth of the carbon credit market is seen as a positive step in the fight against climate change. However, ensuring its integrity depends on implementing a reliable measurement, reporting, and verification (MRV) process. There are challenges faced by project developers in verifying and validating their carbon credits, making the certification process time-consuming and complex. Delays in selling carbon credits can occur due to lengthy certification procedures. Additionally, around 15% of the cost of each carbon credit is attributed to the MRV process, posing financial burdens on project developers according to this report. Furthermore, traditional manual MRV methods have issues with transparency, accountability, and accuracy. Addressing these challenges is crucial to maintaining the credibility and success of the carbon credit market in contributing effectively to climate change mitigation.
How does PLENO do it?
PLENO aims to tackle these challenges by developing a digital platform that revolutionizes the carbon credit creation process, making it faster, more cost-effective, and more accurate. The platform acts as a one-stop solution for carbon credit project developers, simplifying the entire measurement, reporting, and verification process.
PLENO uses various geospatial and climate data to ensure precise carbon forecasting, simplifying the certification process for auditors and registries. By utilizing machine learning and blockchain technologies, PLENO aims to set a new standard in the carbon market, providing a faster, cheaper, and more accurate way to create carbon credits. One standout feature is its user-friendly platform, which allows developers to get their projects verified quickly and easily.
Here is how PLENO does it:
- PLENO has developed an automated tool that measures and forecasts expected carbon credits of a project using machine learning and data from third-party sources. This process now takes much shorter, speeding up the calculation and validation of emissions.
- PLENO improves calculation accuracy compared to manual methods and insufficient real-time monitoring through features like auto-completion, automatic calculations, and forecasting. The system validates data based on the best practices, ensuring a fast, reliable, and accurate verification process.
- Typically, certification fees for carbon credits are expensive and can take a significant portion of the credit's value. PLENO has created a seamless verification process that reduces overall costs, allowing project developers to save up to 80% on certification expenses.
- To ensure transparency and security, PLENO utilizes blockchain technology to store carbon project data on-chain. This approach enables accountability and transparency throughout the process.
Take a look at how PLENO simplifies the carbon credit creation process through its platform:
PLENO’s machine learning and data integration increases the verification process’ speed and accuracy.
The PLENO team combines sustainability and technology expertise to bring innovation to the carbon markets. Nura Linggih, co-founder and CEO, has more than 7 years of experience in the sustainability field, working with companies like PwC and Celonis. He is also a member of the European Carbon Offset Tokenization Association (ECOTA) and contributes to Regenerative Finance (ReFi) DAO. Nino Lindenberg, co-founder and CTO, is an experienced software engineer focused on data science, artificial intelligence, and machine learning. He founded his software development and design firm and teaches AI/ML classes at CODE University of Applied Sciences. Together, the PLENO team aims to simplify the carbon credit certification process, including data collection, reporting, and verification. Learn more about PLENO on their Website, LinkedIn and Twitter. PLENO team aims to simplify the carbon credit certification process, including data collection, reporting, and verification. Learn more about PLENO on their Website, LinkedIn and Twitter.
About Blockchain Founders Group
Blockchain Founders Group (BFG) is a company builder and early-stage venture capital investor. Our team comprises academic and regulatory drivers of the blockchain economy, serial entrepreneurs, and venture capitalists. We love to work with outstanding entrepreneurial talents and bring to bear the full support of our network to make them succeed. Follow us on LinkedIn, Medium, Twitter, and YouTube.
About BFG Superstars Program
The BFG Superstars Program is a crypto incubation program for pre-seed ideas and a place for blockchain talents and co-founders to meet and launch crypto startups in 2 to 3 months. Each year we invest in 15-18 startups with different blockchain-based solutions. At the end of the program, selected startups will receive pre-seed funding up to €70,000. Find more information about the program here.
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