Tallinn-based cleantech startup Kwota has raised €1.5 million in a pre-seed funding round. The company aims to establish a global standard that will validate and trade carbon emissions savings from using recycled materials in production.
“We have a clear vision on how to achieve the global change in the material industry. We drive the global disruption for the material manufacturing industry by bringing more money to those who use recycled materials in their production,” commented founder and CEO Rain Vääna.
The company plans to use NFT and Web3 technologies to establish this accountability factor.
“Recycled materials will get a digital footprint that guarantees unique transparency of carbon savings reporting and trading,” added Vääna.
“Kwota is re-writing the rules in the carbon credits market in a couple of key ways. First - Kwota flips the economics of CO₂ credits from 20%-80% in favor of consultants to 80-20% in favor of carbon reducers. Second – Kwota revamps the economics of recycling in favor of reusing more existing materials,” commented Change Ventures’ Yrjö Ojasaa.