Adam Neumann, the former chief executive officer and co-founder of the co-working company WeWork has been named as not only an investor but also a founder of the startup climate company Flowcarbon. The business is a blockchain-based carbon credit distributor with a total of 35 employees across New York, Montana, and Berlin.
The current market for carbon credit is opaque, which tends to result in a majority of the credits that are being bought and sold being of low quality. These credits are tending to have little effect on the reduction of carbon, and previous attempts to incorporate crypto into this market have not been successful.
Despite this, the investors of Flowcarbon seem to have spotted an opportunity, with backers including Samsung Next and General Catalyst, the crypto arm of Andreessen Horowitz. In addition to raising money from backers, Flowcarbon raised money through the selling of its Goddess Nature Token (GNT).
After WeWork’s failed attempt at a public offering back in 2019, Neumann stepped down as the CEO. He since helped to bring the startup to life, although is not acting as a company director. The current CEO of Flowcarbon is Dana Gibber, with Caroline Klatt acting as COO and Phil Fogel as the chief blockchain officer. Other founders of the startup company include Rebekah Neumann, Adam Neumann’s wife, as well as Ilan Stern.