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Loamist, a startup that helps companies access and track waste biomass sources, raised a $1 million pre-seed round, the company tells Axios exclusively.

Why it matters: The economics of biomass require sources be near the purchaser.

State of play: There are a growing amount of companies making products like sustainable aviation fuel or carbon removal tech that want to access large amounts of low-cost waste bio feedstocks.

How it works: Loamist, founded in July 2023, has built Biomass Explorer, a software tool that helps companies identify, on a county level, sources of biomass feedstocks from agricultural and forestry waste. It will eventually include data about municipal waste, wastewater and biosolids.

Loamist CEO and co-founder Andy Miller said the company will use the funds partly to build out its second product that will help companies audit their biomass trail, called Biomass Validator.

The company's first customer is startup Graphyte, which removes CO2 by burying bricks of processed plant materials underground.

Zoom in: There are some big issues with biomass right now.

Biomass waste is generally found in low densities, and companies need to be under 100 miles from the source to make the use of it economical, says co-founder and COO Pete Christensen. The transportation costs get too high beyond 100 miles.

There's also a big global problem with not managing biomass waste, and agricultural waste is commonly pile burned, releasing carbon dioxide into the atmosphere.

What they're saying: "We are flipping the narrative that it's not waste. It's this abundant resource with the right framing," says Miller.

Circular biomass is "this enormous opportunity. It's effectively the next oil," says Christensen.

Details: The Berkeley, Calif.-based startup raised the round from climate tech investors Third Sphere, VoLo Earth Ventures, and WovenEarth Ventures. The company had previously raised $275,000 from Gigascale Capital (the fund of former Meta CTO), Activate (the nonprofit science funder), and Collab Fund, as part of their Shared Futures Fund.

Thought bubble: For now Loamist is carving out a niche around the emerging market of carbon removal companies that use waste biomass as a feedstock.

But sustainable aviation fuel that utilizes waste resources is an increasingly hot market.

Exclusive: Loamist launches biomass sourcing tool

The tool helps companies find waste biomass sources

Loamist co-founders standing in front of rice husk waste.

Loamist co-founders Andy Miller and Pete Christensen in front of a pile of rice husk waste.  Photo: Courtesy of Loamist

Climate tech

Loamist, a startup that helps companies access and track waste biomass sources, raised a $1 million pre-seed round, the company tells Axios exclusively.Why it matters: The economics of biomass require sources be near the purchaser.

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Exclusive: Loamist launches biomass sourcing tool

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