Woodcache PBC

Gettin’ Traction

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Every leader, founder, entrepreneur, and CEO knows how important it is to raise money. In importance, it sits just behind building a solid team and building a broad set of partners and stakeholders.

Our first financial “raise” (beyond a supportive set of friends and family) was modest and took place around the beginning of 2024. Through an organization called Energywerx, the Department Of Energy runs a voucher program in which a well-known company–called the “Voucher Provider”–organizes services for a less well-known company–called the “Voucher Recipient”. Our long-term partner Global Technology Connection, Inc (GTC) was the voucher provider, and Woodcache PBC was the voucher recipient. Huzzah!

Financially, this was important to us, with the grant amount being in the low hundreds of thousands of dollars. We were able to improve our Measurement, Reporting and Verification (MRV) system by purchasing some precision ghg analyzers, conducting a third party audit on ouroperations, and improving our data management system. These are resources that will directly benefit our company and the rapidly growing Woody Biomass Storage (WBS) industry.

More importantly, the investment was validation that we’re on to something here. You may not know it but in the United States, the Department of Energy has been the leader in Carbon Dioxide Removal (CDR) strategy and investment, and within it, the Office of Fossil Energy and Carbon Management (FECM). FECM has been instrumental in convening, connecting, motivating, strategizing, and investing. Hats off for their leadership!

Finally, the investment is one gear in a mysterious machine called “traction.” Traction is kind of like charisma; it’s hard to define but everyone knows what you mean when you say it. Traction is a combination of a) accomplishments and things already delivered, b) marketing, messaging, and public attention c) funds raised (or more importantly, who is interested in investing), and d) future strategy and management team. Assembling the gears just right can create momentum and turn a startup into a real company.

So we’re grateful for the funds, the validation, and the traction. It has helped us stay focused on removing carbon from the air. There is so much more to do, but we’re doing it with a little more financial back, validation, and traction.

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