Augment Ventures November 2021 Update

Alex Zhuk, Co-founder & COO

Momentum behind carbon markets and sustainability is undeniable. Every major corporation is committing to becoming carbon neutral but only a miniscule percentage of demand for carbon offsets is met today. Soil is the world’s largest untapped carbon sink and can meet 25% of global carbon offset demand; however, today soil represents only 0.1% of the carbon offsets. The major hurdle is the prohibitive cost of quantifying buildup of carbon in soil, making it unprofitable to generate carbon credits.

At Cloud Agronomics, we are evaluating millions of fields to reduce the cost and standardize the measurement and verification of soil organic carbon credits. Cloud is leveraging proprietary datasets and geospatial imaging with machine learning, measuring carbon stocks in soil that meet the requirements of third-party registries and government agencies. We have established relationships with the some of the largest carbon project developers and purchasers in the US and abroad.

We continue to invest in our path to verified measurements globally and are working with carbon emitters to offset their footprint through affordable, nature-based solutions. Should you have relationships with companies who have committed to offsetting their emissions impact or would like to learn more about our efforts, please do not hesitate to contact me.

As world leaders gathered at the G-20 summit to discuss how to cut carbon emissions, a standstill between the US, China, and India limited progress on a climate agreement. While no overarching solution was reached, G-20 leaders have agreed to halt public financing of new coal-fired power plants overseas. For more details, read the recent Wall Street Journal article.

Last week, the 2021 United Nations Climate Change Conference (commonly referred to as COP26) came to an end on November 13th. While there were no groundbreaking outcomes, several agreements were reached. The Economist, New York Times, and CarbonBrief have put together comprehensive recaps of the week-long event.

Crain’s Detroit wrote about Rivet Work’s recent oversubscribed $2 million Seed financing round, which Augment led. The article highlights the company’s transformative product offering and its plan for future growth.

The Wall Street Journal included the LARQ Pitcher PurVis in a roundup of its Best Tech Gifts for 2022, joining other great brands such as Apple, Mophie, Google, Microsoft, Samsung, Nest, Ring, and others.

For a special Augment discount on LARQ products, please use code AUGMENT20 at the LARQ website.