Terraset recap: a look back at 2025

We moved money fast and early, sent clear demand signals, and helped set climate solutions up for scale.

Terraset exists to fund high-impact climate solutions early, when support is most needed and hardest to secure. Our belief is simple: when donors move first, projects get built, costs fall, and mainstream buyers follow.

In 2025, that played out in real time. Terraset donors deployed millions more dollars across carbon removal, methane abatement, and refrigerant destruction. We backed 25 developers, expanded into new climate pathways, completed the first full cycle of our Revolving Fund, and brought new funders into carbon removal for the first time.

If you remember one thing from us this year, let it be this:

Philanthropy is one of the strongest tools we have to de-risk the pipeline of climate solutions.

Here’s what we did.

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Moved millions to projects and doubled down on pre-purchases

We deployed two rounds of funding this year, supporting our existing portfolio and adding 14 new companies: Carba, CarbonRun, Circular Impact, Deep Sky, Eion, Mafix, NY Carbon, Pyrogen, Recoolit, Sinkco, StratX, Terraton, Tradewater, and UNDO. By getting money out the door quickly, we helped teams hit key milestones and unlock production capacity.

See the purchase announcement → Moving millions today

More on our approach → The case for moving money now

Launched the Revolving Fund

We rolled out the Terraset Revolving Fund in May, anchored by funding from the Schmidt Family Foundation. The fund sustains a reusable pool of philanthropic capital for climate solutions by using donor dollars to fund early-stage projects, and reselling credits so the money can be deployed again and again.

Read the announcement → Launching the Terraset Revolving Fund

Wren was the first buyer of credits from the Revolving Fund. It completed the fund’s first full cycle and showed how early philanthropic capital can lower perceived risk and make it easier for new buyers to step in.

See the announcement → Wren is the first buyer from the Terraset Revolving Fund

Introduced funders to carbon removal for the first time

The future of carbon removal can’t rely on the same small group of funders. In 2025, we focused on widening that circle by creating simple on-ramps for new donors and buyers. At New York Climate Week, we partnered with CREO, Incite, Larsen Lam Climate Change Foundation, Carbon Removal Alliance, and the Doris Duke Foundation to bring new funders into the room, answer their questions, and help them take their first steps into carbon removal.

Expanded into superpollutants (because CO₂ isn’t the only problem)

We expanded beyond carbon removal to include methane abatement and refrigerant destruction, blending long-term and near-term impact. That balance matters: fast cuts now and durable removals over time. In total, we backed 25 developers this year across a broad set of climate solutions that need early money the most.

See the blog post → Adding superpollutants to our portfolio

Published a survey showing what developers need most

Our 2025 supplier survey offered one of the clearest views into what project developers need right now: flexible capital, clearer markets, and early buyers. It helped shape where we focus next.

See the findings → What carbon removal suppliers need most in 2025

Experimented with different ways to deploy money

We partnered with 4C to support a NY Carbon biochar project in the Hudson Valley, testing how traditional grantmaking can move money early and effectively. It gave us new data on how different funding tools can accelerate progress.

Read the announcement → We made a grant to NY Carbon

Grew our team (hi, Grace!)

We brought Grace Mumford on to manage our growing portfolio and the operational backbone behind Terraset. She’s helping us find and prioritize the opportunities where our funding can be most catalytic.

Made the case for early, high-impact philanthropy

From New York Climate Week and VERGE to Charm’s Colorado site visit, the Global Climate Finance Forum, Carbon Unbound, Carbon Removal Day Canada, TEDxYPO, Ethic, and the Queer Decarb Summit, we showed up, shared the thesis, and helped build alignment across the climate sector.

In conversations, interviews, podcasts like Carbonsations, Climate Solutions and Carbon Curve, and coverage from Carbon Herald and Trellis, we kept catalytic philanthropy front and center and helped buyers understand what durable removal and long term market stability really require.

Read our joint piece with Giana Amador → The case for bolder climate philanthropy

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In 2026, we want to move even faster

That means expanding into new pathways, growing the Revolving Fund, and recycling more donor capital into the next wave of climate innovation.

We’re building a market where early action becomes the norm, not the exception. And we can only do that with a community of people who believe in moving first.

We’re just getting started and we’re grateful you’re here with us.

Here’s to a bigger, faster, more ambitious 2026.