Having been set up earlier this year, Fund WA has announced its third investment, in WA-based nature-based carbon removal and storage solution InterEarth.
Using a new “woody biomass burial” method, in which woody plants grown on previously cleared farmland in Australia are trimmed, the harvested biomass is sequestered by first drying the biomass and then engineered to keep the biomass well-ventilated, dry, dark, and free from insects and any risk of fire.
The target market is one that is rapidly growing due to the strengthening global commitment to the reduction of carbon in the atmosphere. A key problem exists around the supply of carbon removal projects, that is, the lack of high-quality supply. According to the company, this offers a potential large-scale solution for companies and institutions that are volunteering or obligated to reduce their carbon footprint.
We are focused on meaningful action to remove excess atmospheric CO2. Photosynthesis is a powerful technology to capture CO2 from the atmosphere and is the backbone of our solution. We grow trees, harvest their above-ground biomass and put that biomass and its contained carbon into storage chambers that effectively close all pathways for biomass decomposition. Safe, simple, scalable, and actionable…
Dr Howard Carr, InterEarth CEO and co-founder (see main photo above)
Fund WA has co-invested with Counteract, a UK-based venture capital fund that is the world’s first investor to focus solely on catalysing carbon removal, and Foxglove Capital, who are Perth-based investors focused on high-quality carbon sequestration projects and technologies that offer ecological co-benefits.
“Carbon markets are growing at an extreme pace in the wake of ambitious targets set by governments around the world,” said Glenn Butcher, CEO and a General Partner of Fund WA.
“We see InterEarth’s target market as an exciting opportunity, as the world grapples with how to apply commercial thinking to removing CO2 from the atmosphere.”
InterEarth is also partnering with Nasdaq-owned Puro.earth, which is the world’s first standard and registry focused solely on carbon removal.
