Terrapass

Patch is a carbon credit procurement and management platform combining an AI-native diligence engine, a multi-supplier marketplace, and human Embedded Climate Strategists. It is procurement infrastructure — not investment exposure or tradable carbon assets.

Puro.earth is a leading standard and registry for durable carbon removal — the first crediting standard built for engineered removals (2019) — a Helsinki company (Puro.earth Oy, founded inside Fortum; 70% owned by Nasdaq since 2021, per Nasdaq's SEC-filed subsidiary exhibits) whose CO2 Removal Certificates (CORCs) are among the most widely issued credits for biochar, geologic storage, enhanced rock weathering, and biomass burial. It is not a marketplace: Puro discontinued its own trading venue in 2022 and does not act as counterparty — buyers transact with suppliers or through partners. Unusually for this category, its record is publicly checkable: the registry showed 1,805,106 CORCs issued and 1,042,651 retired across 118 certified projects when AltStreet pulled it on August 13, 2026, and its supplier fee schedule is published. The 2025-2026 integrity arc is the story: ICVCM declared the program CCP-Eligible (December 2025) though its methodologies are not yet CCP-Approved; the Biochar Edition 2025 methodology tightened durability claims to 200+ years and excluded retail biochar distribution pending safeguards; and roughly a fifth of all issuance traces to a single supplier group. No adverse legal or regulatory findings were located.

Onchain carbon market infrastructure: tokenized carbon pools + retirement aggregator + Carbonmark marketplace rails: powerful for settlement and composability, but buyers still bear carbon-quality, liquidity, governance, and smart-contract risk.

Cloverly is carbon-market back-office software that has quietly switched sides. Born inside Southern Company as a buyer-facing carbon-credit API (spun out 2021, minority stake retained), it now leads with 'Commercial Software for Carbon Project Developers' — the Catalyst platform managing inventory, pricing, payments, and distribution for credit suppliers — while keeping the enterprise buyer API and marketplace. There is no retail purchase path and no investment product. AltStreet's August 2026 sweep found a clean record (no lawsuits, regulatory actions, or greenwashing findings; per Insurance Journal, no invalidated credits since 2019) and real 2026 momentum (Patch distribution partnership in January, Terraset in February) — alongside real gaps: no published pricing, no scale metrics newer than 2023, and roughly $21M of total funding with no round announced since May 2023.

Carbonfuture is durable carbon-removal market plumbing: a Freiburg, Germany marketplace and MRV provider (Carbonfuture GmbH, founded 2020) that structures multi-year CDR offtakes for enterprises and tracks delivery for suppliers — self-described 'trust infrastructure.' There is nothing here for retail buyers or investors: no self-serve purchase path, no public pricing, no investment product. AltStreet's August 2026 verification sweep found real institutional traction — 1.5M+ tonnes facilitated (company-stated), the 1.24M-tonne Microsoft/Exomad biochar agreement tracked on its MRV+ platform, Swiss exchange operator SIX as lead minority investor across two rounds, and a July 2026 BECCS agreement for 750,000 credits — alongside a clean legal, regulatory, and complaint record. The open diligence questions are the B2B ones: negotiated, undisclosed pricing; delivery risk on multi-year removal pipelines; and how independent the MRV layer is from the marketplace that profits on the deals it tracks.

Charm Industrial is a leading durable carbon removal supplier using biomass-to-bio-oil conversion and underground storage. It is relevant carbon-market infrastructure, but it is procurement exposure, not a liquid investment, yield product, or tradable carbon vehicle.