Climate Vault Solutions Launches to Meet Growing Demand for Data-driven Climate Action
Funding Round Led by Inclusive Capital Partners Foundation to Scale Decarbonization Efforts
SEATTLE, WA – June 13, 2023 – Climate Vault Solutions, a climate solutions provider that is defining the market for climate action by providing the comprehensive solution for truly verifiable and immediate carbon calculations, reductions and removals, was launched today after closing its Series A funding round for $9.4 million. The funding will be used to further drive carbon measurement, reduction, removal, and reporting as Climate Vault Solutions amplifies the mission started at Climate Vault, Inc., an award-winning nonprofit, to provide organizations with an all-inclusive climate partner.
“Carbon action and meaningful sustainability initiatives that make a real-world difference are no longer optional for today’s businesses,” said Jason Grant, President and Chief Operating Officer of Climate Vault. “We’ve already reduced nearly one million metric tons of CO2 emissions through government-regulated compliance carbon markets and support from our partners. Today’s launch of Climate Vault Solutions is the logical next step to help us substantially increase our impact while equipping organizations with the tools to take direct action against the climate crisis in a verifiable, quantifiable, and transparent way.”
The round was led by the Inclusive Capital Partners Foundation, a private foundation based in San Francisco, with additional investment from King Philanthropies, Valor Siren Ventures, and ThirdStream Partners.
“True system change requires forces of government, business, and philanthropy to work together. We are excited about Climate Vault’s mission for carbon reduction,” said Lee Seward, Chairman of the Foundation board. “We look forward to working closely with management to help scale their innovative solutions.”
“I am thrilled to work with visionaries and value creators like the Inclusive Capital Partners Foundation team. This investment will allow Climate Vault to achieve escape velocity toward our mission of reducing climate damages,” said Michael Greenstone, Chairman of the Board for Climate Vault Solutions and Milton Friedman Distinguished Service Professor of Economics at the University of Chicago. “My co-founders and I first launched Climate Vault as a nonprofit in 2021 to fix a broken supply chain in the voluntary carbon offset market and to spur innovation in carbon dioxide removal. Since then, we’ve already helped the planet avert an estimated $190 million of climate damages. This investment allows us to satisfy the demand from world leading organizations that have already partnered with Climate Vault to neutralize their carbon footprint, like Northern Trust Bank, Intuit, Morningstar, T. Rowe Price, Cleary Gottlieb, and DRW, as well as launch new collaborations.”
Investments in climate solutions have been steadily on the rise in recent years as a fifth of the major companies on the Forbes Global 2000 list and 61 percent of the world’s countries have made net zero commitments. In a report from PWC, climate tech investment in the 12 months to Q3 2022 represented more than a quarter of every venture dollar invested, a greater proportion than 12 of the prior 16 quarters. In addition, according to Axios Pro, when compared to other SaaS sectors which are experiencing market turbulence and decreased investments, climate tech has actually seen an increase in seed and Series A fundraising. Businesses with a focus on carbon capture, monitoring and reporting, energy storage or alternative fuels have received the greatest share of new funding.
“We are honored to support Climate Vault Solutions and its compelling innovation in the carbon market,” said Kim Starkey, CEO of King Philanthropies. “Climate Vault’s exciting win-win solution will mitigate climate change while improving livelihoods globally for the most vulnerable.”
“We believe there is a significant opportunity to improve carbon measurement software tools and carbon removal innovation efforts,” said Jon Shulkin, Co-President of Valor Equity Partners and Fund Manager for Valor Siren Ventures. “We’re grateful to partner with the Climate Vault team as they expand their climate measurement software and launch new carbon removal tools, which we believe will help to tackle many of the challenges in the sustainability measurement and carbon reduction sectors.”
Climate Vault’s integrated reduction and removal program leverages government-regulated compliance carbon markets to knock out carbon in days, not decades, to make the environmental impact that today’s employees, stakeholders and customers care about and increasingly expect from organizations. Its data-centric solutions will enable organizations to measure, reduce, remove, and report their operational carbon footprints, plus the impacts from their products, employees, portfolios, and events.
Visit Climate Vault online to learn more and request a bespoke carbon calculation.
About Climate Vault
Climate Vault is defining the market for climate action by providing the comprehensive solution for truly verifiable and immediate carbon calculations, reductions and removals. Its integrated reduction and removal program leverages government-regulated compliance carbon markets to knock out carbon in days, not decades, to make the environmental impact that today’s employees, stakeholders and customers care about and expect from organizations. By providing the most verifiable and immediate carbon reduction solution on the market, at scale, Climate Vault is the all-inclusive alternative to traditional voluntary carbon market solutions. Learn more at www.climatevault.com.
About the Inclusive Capital Partners Foundation
The Inclusive Capital Partners Foundation is a private foundation dedicated to supporting organizations that address pressing environmental and social challenges. With a focus on climate change, food and housing access, single motherhood, and biodiversity, the Foundation aims to promote innovative and sustainable solutions. For more information, please contact foundation@in-cap.com.
MEDIA INQUIRIES: bgaskins@climatevault.com
