November 1, 2022 – St. Louis, MO —
Tolam Earth, the transformational marketplace for digital environmental assets, today announced the appointment of Matthew Porter as Chief Executive Officer. In his new role, Matthew leads strategy and development of the blockchain-based marketplace, which leverages digitized measurement, reporting and verification to ensure carbon offset or inset project data is accurate, secure, and auditable.
In 2021, the global carbon trading market reached 250 billion dollars, and continues to grow. In combination with efforts like transitioning to renewable energy and ensuring a more sustainable supply chain, purchasing carbon offsets is part of an integrated corporate sustainability strategy. Tolam leverages the Hedera Hashgraph distributed ledger, offering corporations the power to quantify and report the impact of their sustainability investments to shareholders, regulators and consumers.
Porter is leading the startup through development, to commercialization with an anticipated launch in Q1 2023. Porter most recently served as Chief Technology Officer of EmpowerMe Wellness and Founder and Vice Chairman of Contegix, a company he founded in 2002. He is also a board member for a select group of companies and nonprofits, including YPO Saint Louis and Friends of T-Rex.
Porter enters his role at Tolam during a key time in which the company is finalizing its market offerings and registering initial corporate buyers and carbon offset project sellers into the online marketplace. He will oversee day-to-day operations, while helping identify and onboard additional executives and the supporting team.
“We have a real opportunity to help corporations offset their carbon footprint and significantly reduce greenhouse gas emissions in a way never before possible,” said Porter. “Our steadfast partnerships with world-leading technological innovators gives us a unique position to build a groundbreaking platform that disrupts an opaque and unreliable market with transparency and maximum value for project developers in all parts of the globe.”
Tolam was incubated by two global technology forerunners — Object Computing Inc. and the HBAR Foundation. Porter and the leadership of both organizations foresee great opportunities for all in this exchange — for the buyers, sellers, the environment and the economy. “With the climate crisis continuing to unfold before our eyes, we must innovate with groundbreaking technology, and with more speed and agility than ever before. Hedera Hashgraph provides a carbon negative foundation, ” said Wes Geisenberger, VP, Sustainability & ESG at The HBAR Foundation. “Matthew Porter’s proven track record and recognized expertise will undoubtedly enable Tolam to take the next step – build a team and products on top of Hashgraph that democratizes and validates the offset marketplace to battle climate change.”
About Tolam Earth:
Tolam Earth is a digital marketplace to identify, price, buy, and sell carbon assets. All data in the ecosystem is transparent, digitally sourced, and auditable. With the price discovery and auto-purchasing mechanisms of Tolam, we drive optimal liquidity and pricing to all market participants. Tolam leverages the Hedera Hashgraph, the most used enterprise-grade public network, for corporations to quantify and report the impact of their sustainability investments.