FREQUENTLY ASKED QUESTIONS

Frequently Asked Questions below; additionally here’s a link to the video recording of our AirMiners Kiloton Fund FAQ event on August 1st, 2023.

Q: What is the Kiloton Fund?

A: The Kiloton Fund is an initiative launched by AirMiners designed to bridge the funding gap for carbon removal startups. It operates by purchasing carbon credits from these startups upfront for delivery in 2030, providing them with immediate revenue while also creating a valuable investment opportunity. The Kiloton Fund is a test pilot for the Megaton Fund.

Q: How much capital is available to Kiloton Fund prepurchase recipients?

A: The Kiloton Fund has a total of $200k for buying carbon credits from carbon removal startups. 20 teams will each receive $10,000 in funding for their carbon removal project(s). The Kiloton Fund is a test pilot for the Megaton Fund.

Q: Who can apply to benefit from the Kiloton Fund?

A: Carbon removal startups that are in need of early-stage funding are invited to apply for the Kiloton Fund. If you remove carbon dioxide from the ambient air, are at Technology Readiness Level 3 to 6, and aim to create carbon removal credits, then you are a fit.

Q: I have already sold some carbon removal credits. Is my company eligible?

A: YES! Feel free to apply and if we think you are a fit we will let you know.

Q: How does the Kiloton Fund benefit investors?

A: The Kiloton Fund purchases carbon credits from startups at a discount. As these startups expand and enhance their carbon removal technologies, the value of these carbon credits is expected to increase. Therefore, investors in the fund stand to benefit from the potential rise in valuations.

Q: Describe the application process.

A: Applications are due on Friday September 15th, 2023. For the next steps, AirMiners will review the applications, interview a group of teams based on that initial evaluation, then advance a certain number of teams to conduct diligence through external advisors. Final decisions are expected before the end of 2023.

Q: How long does the initial application take? Can I see the form before applying?

A: We expect the application should take 2 hours to fill out. A PDF of the application is here for illustrative purposes only - please use THIS LINK to make the actual submission.

Q: Will our application materials be public information, or kept private?

A: Application materials will not be released publicly.

Q: Do you only select teams for the Kiloton Fund who have been through the AirMiners Launchpad program?

A: Launchpad participation is not a requirement for being selected by the Kiloton Fund.

Q: What happens after the Kiloton Fund decides to prepurchase from a company?

A: The organization will then engage with AirMiners on the terms of the contract. Once in effect, the Kiloton Fund distributes money to the organization immediately, with AirMiners taking delivery of the carbon removal credits in 2030. In 2030, AirMiners will then sell the credits to interested parties, providing a return on the initial investment.

Q: Who buys the carbon credits from the Kiloton Fund?

A: The carbon credits purchased by the Kiloton Fund can be sold to a range of buyers. These can include corporations seeking to offset their carbon footprint, or government entities working towards environmental goals.

Q: How does the Kiloton Fund accelerate the pace of carbon removal?

A: By purchasing carbon credits at a discount from startups working on carbon removal, the Kiloton Fund provides these startups with immediate revenue. This helps them accelerate the development and commercialization of their carbon removal technologies, thereby increasing the pace of carbon removal.

Q: How has the experience of working with startups informed the creation of the Kiloton Fund?

A: Through AirMiners’ experience working with 95 startups who have collectively raised over $90M, we identified a gap in the market for early-stage funding. The Kiloton Fund has been created as a response to address this need, providing immediate revenue for startups while also creating an investment opportunity.

Q: I have another question not mentioned here - how do I contact you?

A: Email tons@airminers.org