BITKRAFT Ventures, and Terraformation, announced a reforestation partnership focused on restoring biodiverse forests and seed banking.
Founded by CEO Yishan Wong, Terraformation’s vision is to bring Silicon Valley’s techniques for rapid growth to forest restoration. Forests represent the most immediately available and effective means of carbon capture. Addressing the most significant bottlenecks to forest restoration at scale, Terraformation team members come from a diversity of fields, including carbon sensing, botany, fintech, and logistics, and organizations such as Paypal, Facebook, Flexport, and NASA, giving the company a unique combination of expertise in tech, scaling, and forestry. Terraformation currently manages several projects in Hawaiʻi and works with partners across five continents.
“At BITKRAFT, we are driven not only to help shape the future of gaming and synthetic reality but also to set a standard for how we aspire to embody responsible entrepreneurship. This endeavor began with our formal commitment to diversity and representation to build a more inclusive future. Our partnership with Terraformation reflects our commitment to building a more sustainable one. Working with Terraformation’s team will drive our reforestation efforts and empower our partners, stakeholders, and portfolio companies to provide critical environmental aid and collectively advance the mission of sustaining our planet for generations to come. Beyond creating a direct impact on the greater causes of the moment, we are hopeful our actions inspire similar engagement across our community and industry, as we know that meaningful progress in these areas will require the work of many.”
BITKRAFT.
To start, BITKRAFT will support two Terraformation projects:
- ReClimate, Ukraine – an NGO founded by three women entrepreneurs that creates a sustainable forest management model, bringing together local foresters and small businesses to maintain the restoration of the biodiverse forests in the Rivne region in Ukraine.
- The Kilimanjaro Project, Tanzania – a grassroots initiative activating community leaders and local partners to create a scalable restoration initiative around Mount Kilimanjaro, Tanzania, in East Africa.
“Trees are the world’s most promising carbon capture solution, with potential for immediate impact. To solve climate change, we must plant 1 trillion new trees by 2030. Every tree begins as a seed, so to make reforestation at scale possible, we need to establish a continuously stocked supply of millions of seeds in every location where we can regrow forests. Terraformation’s goal in 2022 is to establish the world’s largest decentralized native seed banking network. A partnership is a key to achieving any important goal, especially unlocking the solutions to climate change. We’re thrilled to join with BITKRAFT, ReClimate, and the Kilimanjaro Project in this climate solution.”
Yishan Wong, founder, and CEO of Terraformation.
Led by Terraformation’s Head of Global Business Development, Celia Francis, the investments committed to ReClimate and the Kilimanjaro Project are fulfilled in partnership with ImpactAssets, a leading nonprofit specializing in impact investing donor-advised funds providing the expenditure responsibility grant oversight for the initiative.
For more information on Terraformation, you can visit here.
