Intro

I’m Tom, and this is the final blog version of our podcast Grounded: A Climate Startup Journey—for now, anyway... If you’ve been following along, you know that this story has chronicled the highs and lows of starting my biochar business. From setting up shop in Cornwall to partnering with machine manufacturers and farmers, many an adventure and misadventure has been had to date!

But here we are, at a critical juncture: funding. You can have the best ideas, the most cutting-edge technology, and the strongest partnerships, but without money, none of it comes to fruition. In this blog, we dig into the financial side of the project—how much we need, where it might come from, and the strategies we’re using to keep this dream alive.

Chapter 1: Funding the Dream

Money. Moolah. Dough. No matter what you call it, it’s the necessary evil of starting any business, even in the climate space. Setting up my biochar pilot project wasn’t going to be cheap. After crunching the numbers, I figured I’d need between £100,000 and £150,000 to cover capital expenses and operating costs for the first year. That includes everything from the machine itself to keeping the project going through four seasons.

The bad news: I didn’t have that kind of money. The good news: I had some ideas.

Initially, I considered the typical investment options—VC funding or bank loans. But given the early stage of my project, I wasn’t keen on giving away equity or racking up debt before I even produced my first tonne of biochar. Plus, I didn’t have defensible IP or a clear exit strategy that would attract big investors.

That left two more viable options: grants and pre-selling carbon removal credits.

Chapter 2: Pre-Selling Carbon Removal Credits

One of the ways I hoped to raise capital was by pre-selling carbon removal credits. If this sounds a bit like selling a concert ticket for a band that hasn’t written the songs yet, well, it is. Buyers commit to purchasing credits from a project that hasn’t fully started, helping finance the project upfront in exchange for a future product.

I reached out to Bennetts Associates, a UK-based architectural firm that had previously bought carbon removal credits from me in my past life. They were the perfect potential customer—engaged, sustainability-focused, and open to biochar as a carbon removal solution.

The meeting with Bennetts went well. They liked the vision and were interested in supporting a pilot project. They even hinted at wanting to visit the site in Cornwall once everything was up and running. But of course, there were questions: How much would the credits cost? What would the timeline look like? Could they secure first dibs on future credits?

We hashed out the details, and I was cautiously optimistic. I had a verbal commitment for 50 credits at £200, totalling £10,000. That was a huge win. But now, I needed to deliver—both the credits and the biochar.

*Meeting with Peter and Ben at Bennetts Associates HQ in London*

Chapter 3: Grants—The Long Game

While pre-selling credits could provide some funding, it wasn’t going to be enough. That’s where grants came in. The UK has a surprising number of grant opportunities for sustainable startups, and it made sense to take advantage.

In total, I applied for eight grants. Yes, eight. Each one had different requirements, and not all were suited for my project at this stage. Some focused on R&D, while others allowed funds to be used for operational costs or machinery. The catch? Grants are highly competitive, and the success rate is low.

It wasn’t exactly a fast or fun process, but then I met someone who helped turn things around—Councillor Martyn Alvey from Cornwall Council. He saw the potential in biochar and pointed me toward the Council’s Climate & Nature Fund, which offered match funding. In other words, for every pound I raised through crowdfunding, the Council would match it up to £15,000.

*Cllr Martyn Alvey came on our podcast to discuss biochar and Cornwall’s Climate Strategy*

Crowdfunding had crossed my mind before, but the match funding was a game changer. It gave the campaign a boost, making it more appealing for people to contribute. Now, I just needed to launch the campaign and spread the word.

Chapter 4: The Crowdfunding Campaign

Launching the crowdfunding campaign was another learning curve. I needed a good video, clear messaging, and a strategy to reach the right audience. And, of course, I needed to film it on the farm.

Armed with an iPhone, a pair of wellies, and my dad as the cameraman, we shot a video explaining the project. It wasn’t exactly a Hollywood production—at one point, we filmed four takes in slow motion by accident—but it got the job done.

In the video, I explained what biochar is, how it works, and what the money would go toward (you can watch it here). We offered various rewards for contributors, from personalised thank-you notes to small pots of biochar, and of course, updates on the project’s progress.

*Action shots from the Crowdfunder video…*

The crowdfunding campaign wasn’t just about raising money. It was about building a community around the project. People who contributed were buying into the vision and helping to make biochar a reality in Cornwall.

Chapter 5: The First Buyer

A few days after launching the crowdfunding campaign, I got some exciting news: Bennetts Associates had formally agreed to purchase £10,000 worth of carbon removal credits. This was it—our first customer!

It felt like a huge step forward. I had spent months talking about biochar, negotiating, and refining the business model, but now it was real. Someone believed in the project enough to invest in it.

But there was a catch: I needed to make sure the machine arrived on time, the feedstock was lined up, and the biochar was of high enough quality to meet certification standards. Suddenly, the stakes were higher than ever.

*A handy breakdown of how we’ve funded our pilot project, credit to* *Reearthers*.

Chapter 6: Moving Forward

With the crowdfunding campaign gaining momentum and a committed buyer in Bennetts, things were starting to come together. But there was still a long road ahead.

Next up was securing the rest of the funding and getting the pyrolysis machine installed on the farm. From there, I’d need to produce my first batch of biochar, run life cycle assessments, and get the carbon removal credits certified. All of this while navigating the day-to-day challenges of running a startup.

But for now, I could take a moment to breathe. The project was moving forward, and I was inching closer to turning this dream into a reality.

Conclusion

And so, we come to the end of the beginning. This journey is far from over, but we’ve made some incredible progress. I’ve learned so much about biochar, carbon removal, and the challenges of launching a climate startup. Most importantly, I’ve built relationships—with partners, customers, and supporters—who believe in the mission.

We’ll be back soon with more updates from the farm. In the meantime, if you want to support the project, listen to the podcast and follow us on social media.

Thank you for being part of this journey. We’re just getting started.

If you want to listen to Episode 5, click the link below 👇👇

Thank you to the guests who featured in this episode, including:

Peter Fisher – Director, Bennetts Associates
Ben Hopkins – Associate, Bennetts Associates
Peter Mayer – Partner, Stairs Dillenbeck Finley Mayer PLLC
Councillor Martyn Alvey – Portfolio Holder for Environment and Climate Change, Cornwall Council

Episode 5: The End of the Beginning