Local Climate-tech Firm Alcom Carbon Markets Closes Pre-Series A Round

Feb 9, 2024

Singapore-based climate tech company Alcom Carbon Markets (ACM) has raised an undisclosed amount in Pre-Series A fundraising, bringing total investment into the carbon project developer close to US$5 million ($6.73 million).

According to a Feb 9 announcement, the funding round was led by Singapore-based agri-food and climate-focused investment firm Capital Code.

Also participating in this round are investment companies “backed by a London-based veteran trader” and a “former C-suite tech executive in Singapore”, says ACM.

Founded in 2021, ACM operates the first internationally accredited rice husk-based combined heat and biochar facility in the Philippines. Named NuevaChar, the facility is located in Palayan City, Nueva Ecija, one of the least populated cities in the country.

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