Hempoffset/Tao Climate Takes San Francisco by Storm, Proving Hemp Isn’t Just for Hippies Anymore
XPRIZE Carbon Removal beckoned and Hempoffset/Tao Climate answered the call. On the way into San Francisco from SFO, by Uber, I was struck by the sweet smell of weed in the air, and also the advertising billboards: Every ad, without exception, was for AI-powered software. It hits. This is where tech happens. San Francisco and the Bay Area are globally recognised as the heart of innovation and technology, home to Silicon Valley, where some of the world’s most important and influential tech and software companies were born. Giants like Google, Apple, Facebook (Meta), and Tesla have their roots in this region, shaping the future of everything from personal devices to electric cars. Salesforce dominates the skyline with its iconic tower, while companies like Twitter, Uber, and Airbnb revolutionised social media, transportation, and hospitality. The Bay Area’s rich history of tech breakthroughs, entrepreneurial spirit, and access to venture capital has made it a magnet for startups and a breeding ground for the next wave of tech disruptors.
The Top 100, space and time
So, a perfect location for Tao Climate and the Santander XPRIZE Carbon Removal Capital Summit. The Top 100 teams in the competition, including Tao Climate, gathered for three days of presentations, panel discussions and, crucially, networking. The event was launched by Anousheh Ansari, the CEO of XPRIZE, a nonprofit that organises multi-million-dollar competitions to support scientific innovation that benefits humanity. She is the first female private space explorer and has an infectious enthusiasm for the work being done by the teams that are driven to solve the CO2 problem. The understanding that time is running out was matched by the energy in the room, the collective will to continue the momentum, to scale, to accelerate progress.
XPRIZE Carbon Removal: A Game-Changing Event in San Francisco
Tao Climate made a striking appearance at the XPRIZE Carbon Removal Capital Summit, held at the renowned Marriott Marquis Hotel on Mission Street in San Francisco, September 10-12, 2024. The event brought together global innovators and investors to address one of the most critical challenges of our time: removing carbon from the atmosphere. With discussions on topics such as raising finance for carbon removal projects, scaling up large-scale solutions, and the future of sustainable aviation fuel (SAF), the summit was packed with forward-thinking ideas and vibrant debates. The Summit featured some of the most influential voices in the fight against climate change. Among them was Noel Bakhtian of the Bezos Earth Fund, who captivated the audience with her insights into the future of carbon removals. With a staggering €8 billion available for investment in innovative solutions, Bakhtian’s announcement of an upcoming Request for Proposals (RFP) had the room buzzing with anticipation. Her message was clear: the time for bold, scalable carbon removal technologies is now, and the Bezos Earth Fund is ready to back the best ideas. Other key speakers included venture capitalists, industry leaders, and policymakers, all focused on driving impactful change through smart investment and groundbreaking technology.
Some key takeaways:
- There’s a problem with airline carbon credits (we know!).
- Airlines need to do a better job of communicating the customer sustainability experience.
- Current DAC (direct air capture) projects are ‘not economic’.
- The carbon removal need is 10 billion tonnes by 2050.
- VCMs (voluntary carbon markets) won’t get us to 10 gigatonnes.
- We need more and better storytelling around CDR, especially for airline passengers.
- SAF (sustainable aviation fuel) is the only viable way to decarbonise aviation.
- Private jet users should be required to buy carbon removal credits.
The Tesla Cybertruck Sighting: Was That Musk Making a Getaway?
Although Elon Musk, who famously funded the $100 million XPRIZE Carbon Removal competition, did not make an appearance (likely due to Twitter/X vacating San Francisco that very week), his influence was still palpable throughout the event. In a curious moment, I spotted a Tesla Cybertruck speeding away from the hotel—perhaps it was Musk making a swift exit! Tao Climate’s presentation stood out, highlighting the enormous potential of hemp to sequester carbon and revolutionise industries, adding a scalable, green solution to the carbon removal conversation. The event underscored how the Bay Area remains at the forefront of both tech and climate innovation, and how humanity’s first-cultivated crop now points to a better, kinder future.
Return on Sustainability: A Business Model for the Future
Many investors at the XPRIZE Carbon Removal Capital Summit were genuinely excited by Tao Climate’s bold vision of using carbon captured by hemp to build sustainable housing. This innovative approach not only addresses the need for carbon removal but also provides a tangible, scalable solution to the housing crisis. What really captured their attention, though, was our pioneering business model: Return on Sustainability (RoS). This model goes beyond traditional financial returns, focusing on long-term environmental and social impact alongside profitability. Investors saw the potential for significant returns, both in terms of carbon reduction and market value, making Tao Climate a standout player in the future of sustainable investment.
A Hazy IPA and a Moment of Clarity: The Future Is in Our Hands
At an evening social event during the summit, with a glass of Hazy IPA in hand, I had a moment of clarity: the future of the world truly depends on the people gathered in this room. As I looked around at the mix of investors, innovators, and environmental leaders, it hit me that the collective brainpower and resources here could shift the trajectory of the planet. These are the people with the vision, the funding, and the technology to solve the climate crisis—and it wasn’t just about ambition; it was about action. That realisation lit a fire within me: challenge accepted. Tao Climate, with its innovative approach to hemp-based carbon removal and sustainable housing, is ready to lead the charge. This isn’t just a business—this is a mission, and the stakes have never been higher.
Learn more
Learn more about the current state of the CDR (carbon dioxide removal) industry and projections by downloading the new XPRIZE report Getting to Gigatonne: Scaling the Carbon Removal Industry that reports data from the Top 100 teams in the XPRIZE about their 2024 kilotonne demonstrations, projected removals from 2024-2030, megatonne scale projects, cost, emissions, and impact at gigatonne.
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About Tao Climate
Tao Climate is a trailblazing force in the fight against climate change, leveraging cutting-edge technology and nature-based solutions like hemp for carbon removal. Recognised as one of the XPRIZE Carbon Removal Top 100 innovators, Tao Climate is driving real change with support from Google’s SFSD initiative and backing from Enterprise Ireland. The company is also collaborating with the European Space Agency on pioneering carbon-tracking technologies. Tao Climate is at the forefront of creating transparent, scalable, MRV (measurement, reporting and verification) technology solutions to meet the world’s urgent climate goals.
Hempoffset is an operating brand of Tao Climate Limited, registered in Ireland, European Union.
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Founder and CEO at Hempoffset.com and TaoClimate.com.
Hempoffset works with hemp growers and makers worldwide, to capture and sequester CO2 at scale, while building a sustainable world.
Tao Climate works with companies and individuals that want to measure, minimise and manage their carbon footprints. Tao Climate is the way to carbon neutral.
We are proud members of the Google Startups for Sustainable Development program.
