New Frontier Markets (NFM), a technology company devoted to providing access to the new low-carbon economy, announced on July 12 its launch of a blockchain platform for voluntary carbon credits. The company expects that the platform to be broadly in use in the fourth quarter of 2022.
NFM is backed by Tailwater Capital, a private equity firm that focuses on investing in energy and growth infrastructure solutions.
The new platform uses a special private blockchain, allowing customers to trade carbon credits through a highly simplified and efficient process. The marketplace is co-designed with Unicsoft, a blackchain technology developer. The global voluntary decarbonization market is expected to hit $100 billion by 2030. NFM is hoping its exchange platform can lower cost of transaction and improve transparency across the industry.
“With the help of our partners at Unicsoft, we have created a platform that will provide developers with an efficient way to raise project capital and enable investors to actively choose which carbon offset projects they would like to support,” said Steven Lowenthal, president of NFM.