Patch is a B2B marketplace for carbon offsets and removal, aggregating suppliers of both traditional approaches like reforestation and engineered solutions like direct air capture. The platform makes carbon credits tradeable through a web interface and API, enabling uses like routing credit-card rewards into climate action through partnerships like Ascendo.
Chapters
I thought it might be helpful though, maybe if you could kind of give us a, maybe a high-level kind of overview of it as a business first though.
Yeah, absolutely. Absolutely. So Patch at, like really like in a very simplified case is an online marketplace to access different forms of carbon compensation. So that's both traditional carbon offsetting, as well as carbon removal. So on the platform, there are many different ways to sequester. carbon from something as familiar as reforestation. So it's actually planting trees and storing carbon in the biomass of the tree to something a little bit more human engineered, like direct air carbon capture, which is essentially these large fans that suck CO2 out of the air, run that CO2 through a solvent, which is essentially a chemical that captures the CO2 and pure air comes out the other side and the CO2 stays behind. There are all these different ways to sequester carbon. And each of those ways is run by a distinct business. So there are large organizations where their sole purpose is to sequester carbon with the intent of selling that service to someone. We work with those parties to load their capacity or their inventory or supply on the Patch platform, and then we actually make it transactable to purchasers. So we both have a visual interface where you can kind of shop online, but it looks very similar to what you might imagine, but instead of a consumer using it, it's a business using it. So that's worth calling out. out, we are a B2B marketplace rather than a B2C. Or there's the API use case, where we're actually selling to tech-enabled businesses to launch carbon-neutral crypto, or using something where maybe instead of 1% cashback, it gets piped into carbon removal. We actually just had a partnership announced the other day with Ascendo, which is a large credit card points infrastructure player, where they're going to actually unlock climate action as a reward, where You know, they— you— their customers include like Citibank, Amex, etc. So there is a future where you'll be able to turn your points into some form of carbon— or excuse me, climate action using the Ascenda Patch integration. So really, that's kind of the core use case is how do you kind of unlock all this kind of automated climate action through a traditional marketplace model.
