Platform Overview — CaptureNow

1.1 What CaptureNow Is

CaptureNow is a carbon asset-liability management (ALM) platform — the world's first institutional-grade infrastructure for converting corporate carbon liabilities into managed, balance-sheet-recognised assets. It is not a broker, a marketplace, or a project developer. It is the only entity in the carbon removal market that combines durable-asset custody, liability-matched portfolio structuring, and institutional-grade distribution into a single integrated platform.

Core Identity

CaptureNow is positioned as "The Aladdin of Net Removed Carbon" — analogous to BlackRock's Aladdin for fixed-income duration management, but applied to the carbon liability asset class. Where Aladdin optimises bond duration and risk, CaptureNow optimises the three-dimensional proof stack governing net removal tonnes: scientific permanence, legal cure, and financial fair value.

1.2 The Structural Problem

The Liability

Every Major Corporate

Every manufacturing and exporting corporate now carries a forward emissions liability — Scope 1, 2, 3, and embodied carbon extending to 2030/2035/2050 — mandatory to disclose under ISSB/IFRS S2.

The Gap

No Matching Asset

This liability has no duration-matched financial asset sitting against it on the balance sheet. Companies buy short-duration credits as an operating expense — with no asset accumulating on the other side.

The Deadline

January 2028

SBTi V2.0 requires companies to demonstrate a defined, verified long-lived removal asset position. CSRD and SFDR 2.0 require it to be auditable and balance-sheet-recognisable.

The Opportunity

$60T+ Distribution

The institutional allocation layer — asset managers, sovereign wealth funds, insurance companies, corporate treasury desks — has been unreachable for carbon removal products at scale. Until now.

1.3 The Net Removal Warrant (NRW)

The NRW is CaptureNow's proprietary delivery right — a contractual claim on future durable removal tonnes held in Durability Trust, structured as a financial asset under IFRS 9, backed by a cure pool, and deliverable on a defined schedule.

What it is NOT

Not a Retired Credit

Unlike traditional carbon credits that are retired on purchase, the NRW is held as a live financial asset — it accumulates and appreciates over time.

What it is NOT

Not a Forward Obligation

Unlike a forward purchase contract, the NRW is backed by tonnes already held in custody — the delivery risk is managed, not speculative.

What it IS

IFRS 9 Financial Asset

Sits on the corporate balance sheet as a counterbalancing position against the emissions liability — transforming carbon from a period expense into a treasury management function.

1.4 Five Revenue Streams

L1

Treasury Custody Fee

FCA custodian authorisation, custody ledger system, daily NAV reporting on JPM deposit

£1M / yr

L2

Offtake Broker Fee

Registry connector (Puro.earth CORCX), verified supplier database, CORC procurement workflow

£130K–250K / yr

L3

Warrant Pool Management

Warrant registry, 100-year custody logic, reversal monitoring, buffer pool manager

£85K–240K / yr

L4

ALM Liability Manager

Full 17-agent platform, ISDA swap book, Carbon Solvency Ratio dashboard — scales to maturity

£100K–4M / yr

L5

Project Finance Arrangement

Project finance DD workflow, JPM credit committee integration, 25-year monitoring pipeline

£700K–1.3M + annuity

1.5 Competitive Position

Competitors

Cur8 & Supercritical

Curation and brokerage businesses. They match buyers to suppliers and take a commission. They do not hold the underlying asset, cannot write physically-backed options, do not offer liability-matched accumulation, and have no institutional distribution at scale.

CaptureNow Moat

Full Stack Platform

Acquires and custodies verified carbon removal units across multiple pathways (ARR, biochar, ERW, DAC), structures them against client emissions liability profiles using NRWs, operates a swaps and leasing desk, and routes products to institutional buyers through $60T+ distribution.

The Three Proofs — CaptureNow's Unique Validation

CaptureNow is the only platform that simultaneously validates the Science Proof (permanence, additionality, MRV), the Legal Cure Proof (ISDA documentation, FCA compliance, registry lock), and the Financial Fair-Value Proof (IFRS 9 HTM classification, CSR ratio, MTM) at the asset level before any matching or swap execution occurs. No competitor holds all three primitives.

1.6 Fundraising & Milestones

Series A

$10M

Co-led by Muoro and NEA. Reserve validation funded first. Target close Q3 2026.

Series B Trigger

$35M ARR

Series B eligibility ($100M round) tested against $35M recurring ARR threshold. ~36 months from Series A.

First CLS Execution

Month 16–18

First ISDA Carbon Liability Swap executed after platform build, legal documentation, and regulatory approvals are complete.