Thallo

UK-based Thallo uses blockchain technology to enable the efficient trade of carbon offsets. The company provides carbon credits to businesses as one-off purchases or as APIs to incorporate directly into products via a carbon-as-a-service (Caas) offering.

Thallo also specializes in providing a two-way bridge, in collaboration with carbon registries, to tokenize carbon credits securely from a registry onto a public blockchain. The “bridging-as-a-service” is meant to expand access to carbon offset portfolios with transparency and traceability.

Thallo is a member of the International Emissions Trading Association (IETA), the global trade association for GHG reduction organizations. 

Key customers and partnerships

In October 2022, Thallo partnered with BioCarbon Registry, a nature-based program for the voluntary carbon market, to implement the first two-way bridge between a registry and the blockchain. 

In January 2023, as its first use of the bridging-as-a-service offering, the company signed a 10-year sourcing deal with IMPT to sell carbon credits worth EUR 50 million (~USD 53 million) from the Thallo marketplace. In February 2023, Thallo collaborated with the carbon credit certification body Gold Standard to review proposed guidelines for digitization of Gold Standard-issued carbon credits. That same month, the company made a technical integration with Puro.earth to include Puro-Standard-issued credits on the Thallo platform. 

In May 2023, Thallo partnered with SCB Environmental Markets to issue digital-future-focused carbon credits via the former’s two-way bridge. In August 2023, the company joined with Social Carbon to establish Thallo’s two-way carbon bridge. Thereafter, Thallo deployed its first carbon credits onto the Celo blockchain via its two-way carbon bridge.

Funding and financials

The company’s most recent funding round was in November 2022, when it raised USD 2.5 million in a seed round led by Allegory Labs, Arcan Capital, Cerulean Ventures, Flori Ventures, Friendly Trading 2, and Ripple. In November 2022, Thallo received an undisclosed grant from Celo, a Layer 1 blockchain, through the Climate Collective.