11/14/2008 05:57 AM

CarbonFlow Software for Carbon Trading Receives $3.9M

SustainableBusiness.com News

CarbonFlow, Inc., a  San Francisco-based startup developing software for carbon-market trading, has completed a series A round of funding for a total of $3.9 million.

The company intends to begin selling its software in about a month.

CarbonFlow closed the funding round with a $1 million investment from @Ventures, the venture capital business of ModusLink Global Solutions^TM, Inc. (NASDAQ: MLNK)

Clean Pacific Ventures, OVP Venture Partners, and Meridian Energy Ltd. opened the funding round with a $2.9 million investment several months ago.

CarbonFlow will use the funds to speed commercialization of its Carbonflow^TM Suite of solutions, which helps carbon offset developers increase financial returns on their greenhouse gas (GHG) reduction projects by decreasing the administrative burden.

CarbonFlow said its software addresses unmet needs in this rapidly growing market, by enabling faster and lower-cost processes, greater transparency, and better data for buyers, sellers and traders of carbon credits.

CarbonFlow is partnering with leading carbon market players in the development of its suite of software and service offerings, and has formed an exclusive relationship with Det Norske Veritas (DNV), the largest verifier of carbon credit projects in the world.

"With the completion of this round of financing, our company is primed to deliver solutions that our colleagues in the carbon markets are clamoring for," stated Neal Dikeman, co-founder of CarbonFlow. "As carbon trading markets arise around the world, CarbonFlow's solutions are poised to play a central role."

The carbon trading market had an estimated value of more than $30 Billion in 2006, with forecasts that the global market could more than triple by 2015.

CarbonFlow, Inc. was founded in 2006 to address the process inefficiencies and supply hurdles in the current carbon market. CarbonFlow's offerings include the Carbonflow^TM Suite, which boosts the credibility of the carbon market via enhanced standards, transparency and scale; and Carbon Step^TM, a comprehensive software solution which automates the verification, delivery and distribution of GHG or CO2e offset credits for renewable energy and energy efficiency based programs.

Website: http://www.carbonflow.com

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