Last week, the AirCarbon Exchange (ACX) announced it received a $15 million investment to support businesses that offer voluntary carbon credits and blockchain-based tokenized carbon assets.
Other investors in the funding round include Mubadala Investment Company PJSC and Thailand’s Banpu Public Company.
Thus, as part of a strategic partnership with the Deutsche Börse-owned European Energy Exchange (EEX), the total investment, including the investment from the Deutsche Börse in March, was $25 million.
Since its launch in Singapore, initially focused on the CORSIA token to support carbon offsetting in the aviation industry, AirCarbon has expanded and now includes nature-based projects such as renewable energy, carbon capture credits and forests. We offer all kinds of tokens such as others.
ACX uses Polygon public blockchain.
In April 2022, the platform formally confirmed its plans to create a regulated, voluntary carbon market and clearhouse in the Middle East as part of Abu Dhabi Global Markets.
The platform is currently working to launch a voluntary carbon market in Brazil and has signed an agreement with the Nairobi Stock Exchange to set up Kenya’s first carbon exchange.
Related: American Carbon Registry Partners with AirCarbon Exchange to Offer ERT
ACX has successfully confirmed its position in the competitive carbon credit space on blockchain.
Tokenization of carbon credits is a controversial topic for several reasons. Some believe that in the pursuit of sustainability, companies should focus on reducing emissions rather than offsetting them. Several tokenized carbon credits by other blockchain startups have been criticized for being of poor quality.
Also, due to the rapid growth of the Toucan Protocol, which tokenizes carbon credits from the Verra Carbon Registry, Verra has paused the crypto process and started talks.
Verra believes it is confusing that Verra credits are marked as revoked when they are tokenized rather than when they are used.
read more: AirCarbon Exchange Collaborates with NIFC, NSE to Develop Kenyan Carbon Exchange