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The Young Cofounder Helping Companies Take Carbon Out Of The Atmosphere
Posted
December 1, 2023
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1,530
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40
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December 1, 2023
1,530
40
2.61%
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4:53Now PlayingThis former Shopify web developer is applying the e-commerce playbook to climate change. In 2020, Spellacy cofounded Patch, a climate-tech platform that enables do-gooder companies to browse and buy carbon credits from more than 50 project developers that list their climate projects—everything from ocean carbon removal to forest protection— on the site. He has secured $84 million in funding from investors including Andreessen Horowitz and counts more than 400 companies as customers, including software business AutoDesk. In April, San Francisco–based Patch launched an operating system for carbon credit suppliers to easily manage their inventory, logging sales without time-consuming paperwork. Some 440 million tons of credits are currently managed on the platform. Says Spellacy, “I’m a really big believer that markets got us into this problem and are what’s going to drive us out of this problem.”
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