London – Changeblock, a leading UK carbon market facilitator, has announced plans to acquire JustCarbon, a marketplace known for its high-integrity carbon removal projects. This acquisition is set to reshape the global carbon market and establish the UK as a significant player in carbon capture and clean technology.
The deal marks a pivotal moment in the consolidation of the carbon market. Changeblock, which uses blockchain technology to support global environmental projects, aims to enhance transparency and integrity within the sector. The acquisition will enable Changeblock to scale its operations, with projections to handle up to 65 million tonnes of carbon by 2050. The company has already raised over $6.2 million in shares, with expectations to increase this amount to $350 million, positioning itself as Europe’s fastest-growing carbon credit ecosystem.
Changeblock’s marketplace is notable for its transparency, offering real-time end-to-end data on carbon removal projects. This data is secured using blockchain technology, which prevents greenwashing and builds trust in carbon credits. The integration of JustCarbon’s gigatonne-scale projects, including blue carbon initiatives like Seafields, will further expand Changeblock’s offerings. This addition complements existing projects such as FusionOne, which focuses on recycling end-of-life plastics.
Billy Richards, Founder and CEO of Changeblock, highlighted the significance of the acquisition: “There is a huge demand for reliable solutions that support carbon offsetting and contribute to a robust and transparent carbon market. This deal brings a new level of data monitoring, reporting, and validation, making ours the most transparent carbon marketplace ever.”
Richards also emphasised the alignment of the acquisition with Changeblock’s vision: “Combining Changeblock’s comprehensive data and technological prowess with JustCarbon’s large-scale carbon removal projects, we are well-positioned to stimulate greater investment in transformative, planet-saving solutions. This synergy facilitates gigaton-scale carbon removal and offers investors enhanced visibility and opportunities in this rapidly expanding market.”
Gavin Anderson, CEO of JustCarbon, welcomed the acquisition as a significant advancement for the carbon market: “This is the start of market consolidation. JustCarbon becoming part of the Changeblock portfolio creates a real step up in transparency and accessibility to the carbon market. No carbon credit should be sold without full transparency and accountability, and this acquisition will deliver just that.”
Changeblock’s leadership team, including COO Kenton Farmer, brings extensive experience in financial operations and blockchain technology. Farmer’s background in setting up regulated blockchain asset custodians underscores his expertise in navigating the evolving financial and technological landscape.
This acquisition not only represents a major investment in British talent and technology but also signifies a broader commitment to global sustainability. By enhancing the transparency and efficiency of the carbon credit market, Changeblock and JustCarbon aim to drive forward the global effort towards achieving net zero emissions and addressing climate change challenges.
With this strategic move, Changeblock is set to become a pivotal force in the carbon market, fostering a more transparent, accountable, and scalable approach to carbon credit transactions and environmental sustainability.