Climate-tech company harnessing AI to drive carbon removal and restore global forests, recognized for its leadership in transformative technology
San Francisco, California , April 08, 2021 (GLOBE NEWSWIRE) -- Today, Pachama announced that it has been chosen as a 2021 BloombergNEF Pioneer for its role in improving forest carbon markets, protecting ecosystems and restoring forests by leveraging data, artificial intelligence and automation to better monitor and understand our changing planet. Twelve climate innovators, including Pachama, have been bestowed the title due to their pursuits in developing impactful and original technology innovations to accelerate global decarbonization.
The list honors and recognizes transformative technology solutions and businesses filling some of the remaining net-zero innovation gaps in the solve against climate change; optimizing long-haul freight, making sustainable materials, tracking greenhouse gases, valuing carbon sinks and reducing energy and chemical use.
Speaking of the recognition, Diego Saez Gil, CEO and co-founder of Pachama says: “Being named as a Bloomberg Energy Pioneer, alongside highly respected entrepreneurs and leading innovators is an honor for Pachama. We are delighted that our technology is being recognized and validated as a means to accelerate global forest conservation and reforestation and grateful for the doors this opportunity may open allowing us to further scale our technology and impact. By harnessing AI, LiDAR and satellite imagery, we are working to create a credible forest market, founded on increased levels of accountability, accuracy and transparency. Our technology will enable a new standard of assurance in carbon markets, and mean that more and more individuals and organizations can invest with confidence to achieve climate goals, all while supporting our global forests.”
BloombergNEF solicited applications from companies, non-profits and projects that addressed three climate-tech innovation areas:
Managing and optimizing long-haul freight
Advancing materials and techniques for sustainable products
Monitoring and understanding our changing planet
“We have chosen nine winners across the three main challenge categories that we believe highlight some important innovation gaps in transportation, materials and climate. To truly address climate change we need to understand a lot more about our planet, track emissions more closely and quantify the natural carbon sinks in forests, seas and land. Our winners for the third challenge category are all using different technologies, including hardware and software combinations, to track our changing planet from the sky, to spot industrial emissions on the ground and to quantify our valuable carbon sinks. Says Claire Curry, Selection committee co-chair and head of digital industry research at BloombergNEF.
Large organizations such as Microsoft and Shopify are among Pachama’s customers utilizing its verified forest carbon projects to achieve net-zero ambitions. Last month, Pachama also announced its first endeavor into project origination as it was selected as a key strategic partner by Mercado Libre, Latin America’s largest ecommerce and fintech company, to kickstart forest restoration projects in Brazil and verify and monitor carbon impact. This partnership marks a significant step for the company as Pachama expands its capabilities to help new reforestation projects get off the ground powered by advanced technology.
Nature-based solutions are a critical tool in the climate toolkit, with more projects needed to remove climate-relevant amounts of CO2 from the atmosphere. Pachama’s technologies are key to scaling these efforts and catalysing project growth.
Video interviews with each of the Pioneers will be posted once per week on the BNEF website at https://about.bnef.com/bnefpioneers/ starting in the second half of May.
Notes to Editors:
The competition received over 250 applications from 36 different countries. A team of lead analysts at BNEF evaluated candidates against three criteria: the potential impact on greenhouse gas emissions and the planet; the degree of technology innovation and novelty; and the likelihood of adoption.
Pachama is a mission-driven company with the mission of restoring nature to help address climate change. Pachama brings the latest technology in remote sensing and AI to the world of forest carbon in order to enable forest conservation and restoration to scale. Pachama’s core technology harnesses satellite imaging with artificial intelligence to measure carbon captured in forests. Through the Pachama marketplace, responsible companies and individuals can connect with carbon credits from projects that are protecting and restoring forests worldwide. Pachama was founded in 2018 by Diego Saez-Gil and Tomas Aftalion, two technology entrepreneurs originally from Argentina, now based in Silicon Valley, California. The company is backed by some of the top venture capital funds focused on climate tech including Breakthrough Energy Ventures, Amazon Climate Fund, LowerCarbon Capital, Saltwater and Y Combinator.
BloombergNEF (BNEF) is a strategic research provider covering global commodity markets and the disruptive technologies driving the transition to a low-carbon economy. Our expert coverage assesses pathways for the power, transport, industry, buildings and agriculture sectors to adapt to the energy transition. We help commodity trading, corporate strategy, finance and policy professionals navigate change and generate opportunities.
Bloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company’s strength – delivering data, news and analytics through innovative technology, quickly and accurately – is at the core of the Bloomberg Terminal. Bloomberg’s enterprise solutions build on the company’s core strength: leveraging technology to allow customers to access, integrate, distribute and manage data and information across organizations more efficiently and effectively. For more information, visit Bloomberg.com/company or request a demo.
CONTACT: Media Contact Yulu PR | Pachama@yulupr.com | 604.558.1656