Poseidon Foundation

Poseidon Foundation has undergone a significant pivot from its original mission. Founded in 2017 by Laszlo Giricz, the organization initially launched as a non-profit focused on applying blockchain technology to the carbon credit market. Giricz, leveraging nearly two decades of experience in developing trading and risk management solutions for major investment banks like JP Morgan Chase and Deutsche Bank, sought to create more personal fulfillment after feeling his corporate work lacked purpose. His journey towards sustainability was catalyzed by witnessing the severe air pollution in Singapore from forest burning in Malaysia and Indonesia, which drove him to explore solutions for deforestation. This led him to the concept of carbon credits as a mechanism to fund conservation efforts by empowering local communities.

The initial business model was built on the Stellar blockchain network, chosen for its low transaction costs and transparency, to facilitate the micro-purchasing of carbon credits at the retail point-of-sale. This model aimed to make everyday purchases "climate-positive" by allowing consumers to add a small amount to their transaction to offset its carbon footprint, with funds directly supporting forest conservation projects. Early partnerships were established with brands like Ben & Jerry's and British supercar manufacturer BAC Mono. A significant milestone was a 2018 partnership with Liverpool City Council to help the city rebalance its carbon emissions.

However, the company has since transitioned to a B2B climate tech SaaS platform with a different focus. The current business model addresses corporate employee churn through a gamified platform designed to boost engagement with Environmental, Social, and Governance (ESG) initiatives. Companies subscribe to the service to provide their employees with tools like "ecoPoints," challenges, and competitions. Employees are rewarded for completing actions that support the company's ESG goals, such as reducing their carbon footprint or volunteering. This system is designed to increase employee loyalty and retention. Furthermore, the platform utilizes the data gathered from employee engagement to generate analytics for automated ESG reporting, helping client companies meet regulatory requirements. Revenue is generated from businesses that subscribe to this SaaS platform to access the gamification and reporting tools.