Terraset in 2023
It's time to catalyze the carbon removal market!
Dear friends of Terraset,
This time last year, Terraset was just an idea. Today, we’re an official 501(c)(3) that pools tax-deductible donations to purchase high-quality carbon removal from some of the most innovative startups. Our goal is to catalyze the carbon removal market—to accelerate and scale the industry so we hit our global net zero goals. It’s a big, audacious mission, but one we can’t ignore, and one that gets us fired up to do something every day.
So first things first: THANK YOU!
If you’re getting this note, you made Terraset possible. Whether you gave advice, encouragement, feedback, financial support, or other form of help, we appreciate what you did to bring this idea to life.
As we kick things into gear for 2023, we wanted to share a bit more about what you’ve helped build.
Some highlights from 2022
Terraset officially entered existence as an NGO!
We launched publicly to enthusiastic coverage in Protocol, Axios, and Climate Tech VC.
We shared our story on a few podcasts, including Nori’s Reversing Climate Change and our very own Chris Wedding’s Entrepreneurs for Impact.
We started playing a more active role in the CDR industry by joining the DAC Coalition. Our goal here is to help build credibility in the space and move the CDR industry into the mainstream.
We’ve ramped up to mid-six-figures for our annual recurring donations. We view this both as a meaningful first step worth appreciating, and a drop in the bucket compared to what’s coming next.
We made our first carbon removal purchases from our first two partners, Charm Industrial and Heirloom Technologies.
We built a team: Alex Roetter and Chris Wedding as co-founders, Erzsi Sousa as interim director, a merry band of student volunteers from Stanford University and Duke University (Emily Zhao, Saif Nasr, Griffin Clark, Nick Valby, Kevin Biehl), and a handful of other volunteers (Drew Gallaugher, Ryan Brown, Josh Bushueff), all of whom have contributed in a million ways and to whom we are deeply appreciative!
Where we’re headed in 2023 (and beyond)
We plan to grow our CDR purchases rapidly: $2M in 2023, $15M in 2025, and $150M by 2027. Carbon removal has to increase 70% each year for the next 28 years, which can’t happen without a drastic increase in funding. The financial support we provide for CDR projects will accelerate the existence and growth of scaled (10 gigatons per year), affordable (<$100/ton), and extremely high-quality (permanent and additional) carbon removal.
Our priority for the early part of this year is to raise the capital we need to kickstart our operations. We have a fundraising deck and other materials—happy to share them with anyone interested!
We’ll hire a full-time Executive Director, who will lead the charge in hitting our audacious carbon purchase goals.
If you want to help out, here are a few ideas—any and all support is appreciated!
Forward this email to someone who might be interested in Terraset.
Connect us with climate orgs, foundations, and family funds you think we should know.
Follow us on Linkedin or sign up for our mailing list. (If you got this note, you’re already on it!)
Give a one-time or recurring gift on our donation page.
Contribute to our $750K capital campaign. Get in touch and we’ll share materials and set up time to talk.
Finally…
We're optimistic that there will be a scaled, 10-gigaton-per-year supply of price-competitive CDR one day. We wouldn't exist if we didn't think it was possible. But we have a lot of work to get there. 😉 We’re just glad there’s a growing community of folks like you to help us rise to this challenge.
Thank you all again for your support, and here’s to a great 2023 in the fight against climate change!
—Alex, Chris, Erzsi, and the Terraset team