In a development that will surprise few, former WeWork CEO Adam Neumann’s climate/crypto/carbon-credit startup Flowcarbon appears to be in the process of curling up to die, Forbes reported today.
Buyers of its “Goddess Nature Token,” pitched as the first step in putting carbon credits on the blockchain, have reportedly been contacted about receiving refunds over the last month, contingent on signing a confidentiality agreement and release of claims against Flowcarbon. The company told Forbes this was “well known,” and blamed carbon credit market conditions for the operational delay.
It’s not clear what, if anything, the company has achieved since it was founded in 2022, or if larger investors like Neumann faithfuls a16z will also be getting money back. (Flowcarbon is distinct from Neumann’s other a16z-backed company, Flow.)