SeedBlink Blog

Could you please introduce yourself and your role at Planboo?

My name is Priya, i’m the Co-founder and COO at Planboo.

What inspired you to start Planboo and focus on carbon removal through biochar?

Planboo was inspired by a shared love of nature and a drive to challenge the status quo. Myself Freddie and Marc, have been friends since 2015 and have all had different life journeys but share the same values of passion and vision to leave the world a better place than we found it. What led us to focus on biochar carbon removal was the sense of urgency that we have to take action today. The UN-led panel for climate change has been very clear about the fact that we are not on track to stay within 1.5 degrees of global warming and that it’s going to take a lot of collective action. Carbon removal is now unavoidable if we are to avoid climate catastrophe and biochar is a solution that is ready to scale today!

Can you share a bit about the founding team's experience in the tropics and carbon removal technologies?

Together with my co-founders Freddie and Marc, we’ve been working in the tropics and throughout the Global South for over 10 years. Freddie (CEO) has a background in sustainable construction and has worked throughout India and Sri Lanka building up a massive network along the way. Marc has a computer science background and after setting off on a motorbike around South East Asia found himself immersed with solar panel installation projects in Botswana and other sustainability projects throughout Africa. I myself have 6 years experience in International Development, having worked and lived in Peru, Sierra Leone, Ethiopia, Namibia and Nepal. My passion has always been supporting areas of the world that are worst affected by climate change and as a team we love to meet people from across the globe. Despite being from Europe and setting up our company in Sweden, we’ve been living and working on the ground in Sri Lanka since 2021 to build our solution. We see ourselves in a privileged position to bring together global perspectives and we’re committed to growing the best biochar carbon removal solution out there on the market.

Could you provide some insights into the current state of carbon removal and its importance in combating climate change?

In April 2022, the world’s leading climate scientists came out with a very strong message-carbon removal is now unavoidable if we are to stay within 1.5 degrees of global warming. They went on to say that even if we were to reduce all of our emissions, we have now put too many emissions into the atmosphere historically which has put us on course for serious climate repercussions. Their answer was that carbon removal, which is the process of drawing down existing co2 from the atmosphere and storing it in a form that prevents its re-release, is now necessary. Carbon removal comes in many forms, some of which are ready to deploy today and others that are a few years away from being ready. The reality is that we will need all of these methods and technologies if we are to stay within the planetary limits. It is estimated that 6-10 billion tones of carbon removal is required annually until 2050. In 2021 only 50,000 tones were removed, so you can see we’ve got a lot of work to do! That being said, we’ve got the capabilities and so many bright minds working on this challenge. I see the potential of carbon removal as not only able to support us out of the climate crisis in the short-medium term but support in the healing of the planet long term as you can remove more emissions than we originally put out, thus restoring balance and actually leaving the Earth a better place.

How does biochar contribute to the carbon removal process, and what are the advantages it offers?

Biochar is an incredible way of locking carbon out of the atmosphere in a stable solid form. Biochar is a charcoal-rich substance that is made through the process of pyrolysis, which is the cooking of plant biomass at a certain temperature in a limited-oxygen environment. All plants absorb CO2 through photosynthesis and give out O2 leaving the “C” held with the biomass of the plant. We can support nature in this process by cooking that biomass and thereby locking the carbon within the very fibers of the plant. Biochar is an ancient practice that has been found in Amazonian soils as far back as 3,000 years. It is known to improve water holding capacity and nutrient retention of soils and even support the repair of degraded lands. By applying biochar to the soil we store the carbon out of the atmosphere for 100-1000 years and support soil regeneration making it a win-win.

What specific challenges or problems does Planboo aim to address in the carbon removal industry?

While the practice of biochar has been around for a long time, it has only more recently been recognized as a credible method of carbon removal. Carbon markets have a key role to play in the climate crisis, however, they have been fraught with skepticism and mistrust. Planboo aims to bring trust and transparency back to carbon markets. Measuring, Reporting and Verification (MRV) is the cornerstone of any quality carbon credit project and currently this is an underdeveloped space. MRV is critical as it allows buyers of credits to feel reassured that the carbon removal they are paying for is actually taking place. That’s where we come in.

Can you explain how Planboo's dMRV (Digital Measuring, Reporting & Verification) system works and how it ensures transparency in carbon removal?

We have developed a dMRV system that essentially tracks and proves that high quality and high integrity biochar carbon removal is taking place. It collects data from two independent data streams to be able to track in real time when and where biochar production, mixing and soil application is taking place. We collect more data points than any other MRV system because we want to ensure our carbon removal is transparent and of the highest quality.

What is Planboo's business model, particularly in terms of generating and selling CDRCs (carbon dioxide removal credits) and revenue sharing with biochar projects?

Planboo provides the tools, training and technology for farmers and landowners in tropical regions to turn their waste plant biomass into verified biochar. We collect relevant data with our MRV system which allows us to generate accredited carbon removal credits which we retail onto the voluntary carbon market and then share the revenue with the project. Currently, projects receive an average of 80% of the revenue from the sale of the carbon removal credit. It is of the utmost importance that the projects receive a high % share of the revenue to contribute to distribution of wealth and “close the gap”.

What are the key differentiators of Planboo's solution compared to other carbon removal technologies or providers in the market?

Our dMRV solution is both hardware and software enabled. So we combine our greenbox, an IOT enabled device that attaches to every kiln recording data in real time, with our in-field, smartphone application. Together, these offer two independent data streams of “truth” which allow us to verify that carbon removal is taking place. This combination is unique in the market and defines the market standard of quality biochar carbon removal.

Could you discuss the traction Planboo has gained so far, such as the number of contracted CDRCs and their value for 2023 and 2024?

We have 4 active projects in Sri Lanka and Malawi and 5 more in the pipeline. From the active projects we have locked in 4,650 credits with a commercial value of USD 930,000. The additional 5 projects set to kick off this year will bring in close to USD 5 million from 28,000 credits.

Are there any specific success stories or examples of how Planboo's solution has made a positive impact on the environment or local communities?

With our first project in Sri Lanka with Elpitiya Plantations we were able to generate the first ever official accredited carbon removal credits in the country. This was a pretty historical moment!

Can you provide an overview of the global Voluntary Carbon Offsets market and its projected growth in the coming years?

The carbon market is exploding! It’s already sitting at over USD 2 billion today and set to reach a whopping USD 50bn by 2030 and as high as USD 1tn in 2050.

How does Planboo plan to capitalize on this market opportunity and position itself for future success?

At Planboo we’re positioning ourselves as the market leader in the tropics which has a huge potential for biochar carbon removal. Plants grow the fastest in these regions due to optimate climatic conditions means the potential for carbon removal is huge. We’re tapping into this market which we see as a huge opportunity. We’ve been contacted by over 100 potential projects across 36 countries in the last 4 months, so the future is bright.

Are there any specific regions or industries that Planboo is targeting or focusing on?

We started in Sri Lanka as our beachhead market as we have a strong network here. We’ve now branched out to Malawi and Namibia and things have been really accelerating. We’re being contacted by projects all over the world to engage with them, we’re actually having to slow that side down a bit to focus on the sales of the credits first. In terms of industries, we work with large landowners with vast volumes of waste and fast growing biomass such as plantations growing cinnamon, bamboo, rubber and even cotton stalks.

How does Planboo's solution impact life quality and food systems, and what are the positive co-benefits it offers?

Planboo’s solution goes beyond carbon removal. We work with projects to understand the best way to combine the biochar with compost to add to the soil. By mixing biochar with compost we can support a type of farming practice that relies less on chemical fertilizers. Biochar compost can restore and replenish degraded soil restoring pH balance and increase its capacity to retain water and nutrients. Biochar contributes to improved crop and yield production which supports farmers and landowners to improve their financial security. Our solution results in the generation of carbon finance which serves as an additional revenue stream. We therefore direct finance to areas of the world that were previously unable to access it.

Can you share any specific examples of how Planboo's solution has improved the quality of life or food systems in the regions where biochar is sourced from?

Planboo’s first project in Sri Lanka is already showing positive impacts on the growth and health of a pineapple plantation after only a few months post-biochar/compost application.

What are the next steps for Planboo in terms of scaling its operations and expanding its reach?

Next steps include getting our dMRV out there! Our MVP of our app is almost complete which we are testing in May and June in our existing projects. We’ll activate the additional 5 projects in the next quarter and gather valuable data across all these biochar production sites. We are working on some big deals with buyers to transact large volumes of carbon removal credits which will give us a big boost and thus be able to onboard even more supply.

Are there any plans to enter new markets or collaborate with other organizations in the climate tech industry?

Absolutely! We believe this can be a global solution and we’ve had that feedback from reach outs from potential projects across the world. The biochar market still needs to evolve and so by partnering with big corporations on the buyer's side, but also big organizations such as GIZ we can support the scale up of this industry.

What excites you the most about the future of Planboo and the potential it holds?

It’s super cool to be sitting at the forefront of such a fast growing and exciting space. Carbon removal is growing fast, but it needs to grow even faster and stronger if we are to beat climate change. We genuinely believe we can support this fight by drawing down millions if not billions of co2 from the atmosphere and directing carbon finance to areas of the world that need it the most.

Planboo is raising €1M improve the carbon removal process through biochar and its digital measuring, reporting & verification solution. Explore the round materials here.