Open Forest Protocol (OFP) provides a blockchain-based, open-source, networked verification system that enables carbon developers to issue transparent and verifiable carbon credits with no upfront cost. The platform currently runs 190 afforestation, reforestation, and regeneration projects across 20 countries via its Atlas Explorer product. OFP supports both large national forest projects (in collaboration with two national governments) and small landowners, aiming to broaden access to global carbon markets. The protocol emphasizes scalable, data-driven verification to create high-integrity nature-based carbon credits. OFP plans to expand partnerships with sustainability-driven companies and accelerate the initiation of dozens more projects. Its positioning targets growth in the voluntary carbon market, which the article cites as a large long-term opportunity. Open Forest Protocol offers an open MRV platform that allows forestation projects of any size to measure, report and verify their forestation data using a carbon-neutral blockchain. The platform is designed to create benefits across the value chain, from local communities to the voluntary carbon market. OFP reports it is already working with some 40 afforestation/reforestation projects worldwide. The company was founded in 2021 by Frederic Fournier and Michael Kelly and has its legal seat in Zug, Switzerland. Its team includes developers in Ukraine, on-the-ground specialists in East Africa and Central America, engineers and economists in the USA, and legal and managing executives in Western and Northern Europe. The company intends to use the new funding to expand operations and broaden its business reach.

Total raised

$4M

Funding rounds

2

Latest round

Seed

Latest activity

Jan 2023