Single.Earth is a GreenTech company with significant funding for scientific research and innovation development in nature-based solutions. The founding story starts in 2019 in Estonia, where environmentalist Merit Valdsalu and life-long engineer Andrus Aaslaid tackled the very local issue of intensive logging. They won the Garage48 Future of Wood hackathon with the project that proved that nature can be commercialized without being sold as raw material.
“We wanted to find alternatives for monetizing forests and soon realized that it’s not just Estonian forests that need saving – it’s all forests and, moreover, all nature,” describes Merit, the CEO and voice of the company.
In July 2021, the company raised a seed funding round of $7.9 million. The investment round was led by EQT Ventures, with participation from existing investor Icebreaker and Ragnar Sass and Martin Henk, founders of Pipedrive.
Today, the rapidly-growing Single.Earth team (70+ people) is on a mission to help preserve existing ecosystems by making nature protection profitable for landowners of all sizes. Our immediate goal is to increase the conserved area of existing biodiverse forests on a global scale. Ultimately, we strive to transform our economy by introducing the world's first nature-backed currency that explicitly acknowledges the dependence of all economic activity and human well-being on nature.
Single.Earth tokenizes nature for its ecological value and essential ecosystem services, capturing the value in MERIT.
MERIT is a virtual currency (a token) that represents – and protects – the work nature does to sustain life by removing and storing carbon and hosting biodiversity. MERIT is issued to landowners based on the ecological value of their lands for as long as nature is preserved.
The first version of the MERIT token represents 100 kg of CO2 sequestered by a specific plot of land. To move to a more holistic approach, indicators of biodiversity and carbon stocks will be incorporated to the next iteration of the token.
To enable tokenization and monitoring of natural assets, Single.Earth has created a Digital Twin of Earth. It combines satellite data, big data analysis, and machine learning to create a digital representation of the world’s nature: assessing the intact forest area and its ecological features (gross CO2 removal, carbon stocks, and biodiversity).
In June 2022, the platform for landowners was publicly launched, enabling all landowners to insert their land data and receive a preliminary estimate of its ecological value. During 2022, Single.Earth will open the sales of MERIT tokens for individual and corporate buyers who aim to contribute to nature and/or see the value of virtual assets backed by the real-life features of nature.
The Stock Exchange Of Nature? A Startup Is Tokenizing The Planet To Save It
ESG Watch: 11 funds join UK greener pensions campaign
Single.Earth to link carbon credits to crypto token market, raises $7.9M from EQT Ventures