Three years ago, a Nelson-based company developed an artificial intelligence technology platform that has enabled landowners across New Zealand to remotely evaluate their land and forests to estimate what they could earn from carbon credits.
The platform uses remote sensing, artificial intelligence (AI) and automation to help landowners assess if they qualify for the Emissions Trading Scheme (ETS) and to measure carbon removed from the atmosphere by their forests. The ETS is NZ’s main tool for actively reducing greenhouse gas emissions. This is achieved through the awarding of carbon credits, with one credit representing one tonne of carbon - or equivalent greenhouse gases - removed from the atmosphere.
CarbonCrop was developed out of the Nelson Artificial Intelligence Institute which first invented the prototype solution that CarbonCrop’s founders developed into a commercial model. This year they have distributed more than $25 million in carbon revenue to their customers. “It’s definitely not a small sum,” laughs JoBlundell CEO of CarbonCrop “We have helped around 200 get into the ETS now using our technology platform. Carbon credits don’t need to be in the too hard basket.”
Recently they were finalists in 3 of the 14 categories at the NZ Hi-Tech Awards, which celebrates New Zealand’s most successful high-tech companies and highest achieving individuals. “We were nominated in three categories: Most Innovative Hi-Tech Service, Most Innovative Deep Tech Solution and Startup Company of the Year. More than 50 companies submitted entries for Start-Up of the Year, and we made the final 5 which was pretty amazing as we were up against some incredible startup businesses across the country.” says Jo.
All finalists were required to attend a Q & A judged panel session in Auckland. “It’s always gruelling to be questioned in front of a panel but we have a good story to tell. Most of our customers are native forest owners and through working with us, they have really increased their participation and the way they can benefit from the ETS.” explains Jo.
The awards night, where the winners were announced, was held at the Te Pae Convention Centre in Christchurch. “It was a big event. There were around 1,000 guests including the Prime Minister,” says Jo “While we didn’t win any awards it was fantastic to be recognised in the tech industry.” Jo also says that being involved in the awards gave them an opportunity to reflect on the past 3 years. “Starting and growing a business is hard work. It was great to take the time to look back. Without participating in the awards, we probably wouldn’t have done that.”
“Biodiversity, our native forests and our climate are things we want to fight and advocate for.” says Jo. The company is hoping to make its technology available to other forestry professionals to help more landowners access and understand the carbon market and are looking forward to trying again for the awards next year.
