Gigatonne is a platform that sells high-integrity carbon credits. The platform connects buyers to teams contracted to do abatement activities

📑 The platform has an open protocol that sets the standards for any teams to participate in climate action. Teams are contracted (exclusive supplier agreement) to do abatement activities.

🤖 Team’s performance data will be captured on our platform. Using AI-tools we process large amounts of data – allowing the platform meet transparency and verification requirements at low cost.

♻️ We sell high-integrity super credits as offsets. Credits are sold B2B. We offer price discounts for multi-year contracts.

Currently the bulk of carbon credits on the market are sub-$100 credits, many of which are based on nature-based solutions. The market relies on “carbon sweatshops,” often located in the global south, for generating cheap “sweatshop credits.” There is a lack of financial transparency means it is very hard for buyers to know what is happening along the carbon credit supply chain.

There is a need for a super credit that not only meets social standards but also results in effective climate action.

Our mission is building the world’s most effective response to the global climate crisis. We can shift the direction of the crisis in 60 months, while benefiting one billion of the poorest families on the planet.

We are setting up a $15m fund to cover the teams costs for 200 teams to produce 400k credits over the next 24 months.

After launching in late 2020, we have been iterating Gigatonne. We have run 146 sprints, involving 95 teams in 25 countries. Each sprint allows us to rapidly prototype and refine our approach

10-in-10 operates across the value chain from providing teams with a protocol, contracting teams on the ground, high-integrity reporting and an exchange for super-credits. All the activities, data management and reporting is centralised onto The Gigatonne Platform.

Our standards for effective climate action are formalized in the Open Gigatonne Protocol. We specify seven performance levels, with targets for time, emissions reduction/removal (CO2e) and equity targets (number of families supported via employment, food and energy security).

The price of carbon credits can vary based on several factors, including the technology or solution used to reduce emissions, the geographic location of the project, the demand for carbon credits, and the regulatory landscape of the country or region. On the voluntary carbon markets (VCM) Nature based solutions such as reforestation and regenerative agriculture tend to have lower prices ($5 - $100) compared to technology based solutions such as DAC and CCUS ($100 - $1000). However, it is important to note that the demand for carbon credits is increasing, and prices are likely to change over time as the market evolves.

We have been prototyping our supply side for over 2 years and have de-risked operations. We also have a prototype for the open reporting platform that we have been testing. The VCM market exists and is expected to grow exponentially and this growth will be fuelled by availability of high-integrity credits.

In year 1, we will be focused on refining sales strategy and signing up key buyers / brokers for advanced credits. Through this process, we will have done price discovery as well. The COGS on a tonne is $200 and it will be sold for between $500 - $1000. The credit price will be determined by the duration of the sales agreement (either 1, 5 or 10 years) and the associated discount.

Sale for  first 2 years are for 48000 credits:

This will result in $20m in revenue (including 30% discount and transaction fees).

Sales will be a combination of direct sales to corporate clients (either offsetting or climate programmes) and brokers (average of $3m per year per broker). The sales will start towards Q4 2023 and will be based on packages which are determined by duration of sales agreement and discount.

The credit price for this would range between $600 and $1000. For each credit sold, the breakdown is as follows

In the first year we will do price discovery to determine the ideal price point for our super credit. Every year there is a credit price reduction of between 10-15%

Gigatonne operates across the 3 core parts of the carbon offsets / credits supply chain and ensures integrity and standards across all three. This is a gap in the market today.

By operating across all core parts of the value chain

We are able to meet the science based time targets, as well as equity goals to benefit the most climate vulnerable and contribute to a green economy.

Gigatonne has 3  main revenue streams:

Located on India’s eastern coast, on the Bay of Bengal, Vizag – or Visakhapatnam – is one of India’s industrial engines and is the 14th largest city in the country. Being a coastal town and an industrial hub, Vizag is vulnerable to the effects of climate change. Therefore, it is well-positioned to be a beacon for responding to the crisis.

Historically, blue-collar workers, the Vizag team members are a local sports team. We’ve helped them launch an innovative waste management business.

They employ young people to collect food waste, compost it, and grow and give away fresh food, which helps to mitigate the effects of climate change and supports the most vulnerable in their community.

Zaid and Manish have been friends for 22 years. They met in Brazil, as part of a group exploring critical education, travelling together over 10 days. Inevitably they were the last two left awake, talking long into the night. 9-11 occurred during this trip. Over the last two decades they have developed a healthy working relationship, keeping the other accountable while learning to forgive each other. Manish brings patience, wisdom, and experience to the partnership. Zaid brings impatience, an eye for detail, and his own experience.

They both bring a shared belief that the status quo does not work for most people on the planet.

The 10-in-10 team has extensive experience across philanthropy, civil society, the private and public sectors. Former CEOs, strategists, facilitators, researchers, project managers, and community organisers. Collectively managed multi-billion-dollar foundations and agile start-ups. They have deep sectorial expertise and wide networks of relationships to draw on. Some are grizzled and others are young. They are always learners and sometimes teachers. Collectively, already supported many thousands of people in tackling complex challenges. 10-in-10 will allow us to distribute those skills and support with the speed and scale necessary to reinvent the future. All have a deep commitment to tackling complex challenges around the world.

Disclaimer: This memo and all documents presented and attached here is confidential and intended for Fundie Ventures and its affiliates. It is strictly forbidden to share any part of this document with any third party, without a written consent.