LAKE FOREST, Ill. - Aug 22, 2025 (UTC) - Therm, a carbon project developer focused on decarbonizing the food supply chain, announced it has closed a $3.6 million Series A funding round from the same private investors who funded its seed round in 2021. The investment will accelerate the global expansion of the company’s leading Super Pollutant Carbon Credits™, positioning Therm to capitalize on the rapidly growing voluntary carbon market segment projected to reach $10 billion by 2030.
“We built Therm to bring climate finance to high-impact solutions that reduce super pollutants,” said Fritz Troller, CEO and co-founder of Therm. “This funding empowers us to cement our leadership in this critical category, scale our organization worldwide, and capture this multi-billion dollar opportunity.”
“Therm has demonstrated a clear path to delivering immediate, measurable climate impact,” said a spokesperson for the investors. “Their focus on super pollutants and their scalable model make them uniquely positioned to lead the voluntary carbon market as it grows toward $10 billion.”
Historical Funding and Growth
Therm’s funding history reflects its steady growth in the carbon credit and sustainability sector. The table below summarizes its known funding rounds:
| Round | Date | Amount | Lead Investor | Key Notes |
|---|---|---|---|---|
| Pre-Seed | June 2020 | $0.5M | Undisclosed | Supported initial project development and market entry. |
| Seed | October 2021 | $1M | Private Investors | Enabled expansion of carbon credit projects in the food supply chain. |
| Series A | August 2025 | $3.6M | Private Investors | Focused on global expansion and scaling carbon credit issuance. |
Founded in 2020 and headquartered in Lake Forest, Illinois, Therm has issued over 2 million Super Pollutant Carbon Credits™ across the United States, Canada, and Europe. The company has earned top-tier ratings from BeZero Carbon, including two A ratings and an AA rating for its most recent project, placing it in the top 2% of carbon projects assessed globally. Therm serves over 50 regional and national food supply chain companies, demonstrating a scalable model for emissions reduction.
Therm’s Carbon Credit Solutions
Therm’s core offering is its Super Pollutant Carbon Credits™, which fund projects to reduce emissions of potent greenhouse gases in the food supply chain. Key aspects include:
- Refrigerant Replacement: Finances the phaseout of high-impact refrigerants, replacing them with lower-emission alternatives to reduce greenhouse gas emissions.
- Food Waste Reduction: Supports initiatives to minimize food waste, addressing methane emissions from landfills.
- High-Integrity Credits: Generates verified carbon credits for voluntary, compliance, and Scope 3 insetting markets, ensuring no risk of reversal.
- Project Development: Implements practical, scalable projects tailored to grocers, convenience stores, cold storage facilities, and farmers.
- Market Accessibility: Enables food supply chain businesses to participate in carbon markets through straightforward, non-tech-heavy solutions.
Therm’s approach focuses on practical project execution and rigorous verification, making its carbon credits accessible and impactful for clients without requiring advanced technological expertise.
Industry Impact and Challenges
Therm’s Super Pollutant Carbon Credits™ address critical environmental challenges in the food supply chain, a major consumer of refrigerants and producer of methane, which contribute up to 45% of global warming. The company’s projects have delivered over 2 million credits, achieving immediate emissions reductions and earning top ratings from BeZero Carbon. By introducing over 50 food supply chain companies to carbon markets, Therm has created a scalable model for climate finance.
The carbon credit market faces challenges, including ensuring credit integrity, navigating complex verification standards, and competing with other sustainability solutions. Therm must maintain its high-quality ratings and expand its reach while addressing regulatory variations across global markets.
Market Context and Industry Trends
The voluntary carbon market for super-pollutant credits is projected to reach $10 billion by 2030, growing at a 35% annual rate. Key trends include:
- Super-Pollutant Focus: Increasing emphasis on reducing high-impact gases like methane and refrigerants.
- Carbon Market Expansion: Rising demand for high-integrity carbon credits to meet corporate sustainability goals.
- Food Supply Chain Decarbonization: Growing need for solutions targeting emissions in food production and distribution.
- Regulatory Support: Stronger policies encouraging emissions reductions and carbon credit adoption.
- Scope 3 Insetting: Shift toward insetting strategies to address supply chain emissions directly.
Therm’s focus on super-pollutants aligns with these trends, positioning it to meet the growing demand for effective climate solutions.
About Therm
Founded in 2020 and headquartered in Lake Forest, Illinois, Therm is a carbon project developer focused on decarbonizing the food supply chain. Its Super Pollutant Carbon Credits™ fund refrigerant replacement and food waste reduction, delivering immediate emissions reductions. Serving over 50 regional and national food supply chain companies, Therm’s mission is to bring climate finance to high-impact solutions, creating value for businesses and the environment.
Future Outlook
With the $3.6 million Series A funding, Therm is poised to accelerate its growth in 2025 and beyond. The company aims to expand its global footprint, issue more carbon credits, and onboard additional food supply chain partners. By maintaining its focus on high-integrity projects, Therm plans to lead the super-pollutant carbon credit market and drive significant climate impact.
For more information, visit www.therm.cool.
