Skip to content
VOLCANO
Index

CT-14 · CleanTech

TRL2 · On hold
On holdF4 · ConceptTRL 2CRL 3 · value propositionRound 1 · Concept and proof

Carbon credits for the circular economy

CleanTech · Certifies and monetises the positive environmental impact generated by a waste collection and processing network.

Open: 2026

The project

What it is about

Certifies and monetises the positive environmental impact generated by a waste collection and processing network. Market: Administrations, companies with sustainability targets. The project is in the validation phase (TRL2): technical concept formulated, documented, and with authorship protected by blockchain timestamping, awaiting capital to move to the next phase. The full technical detail, the indicative valuation and the exact status of the protection are shared after qualification.

Where it stands

On the path, and on the seven lines.

Development path diagram of a Volcano projectDevelopment path diagram of a Volcano project: thirteen phases in four macro-phases, from the capture of the problem (F1) to liquidity (F13). Discovery: F1 capture and F2 analysis of the problem. R&D: F3 ideation, F4 concept, F5 proof of concept, F6 prototype, F7 MVP. Market: F8 traction, F9 product-market fit, F10 profitable growth, F11 profitability. Scale: F12 scale, F13 liquidity. The moving dot travels the phases at the pace of the indicative timeline; timings vary from project to project.F1 · Capture of the problem: Has a problem entered the network, brought by whoever suffers it?F1CaptureF2 · Analysis of the problem: What is the process where the problem lives like, and is it worth solving?F2AnalysisF3 · Ideation: Are there plausible routes, and which one deserves the concept?F3IdeationF4 · Concept: Has the idea stopped being a hypothesis?F4ConceptF5 · Proof of concept: Does the central mechanism work?F5ProofF6 · Prototype: Does the integrated system work in a relevant environment?F6PrototypeF7 · MVP: Does the minimum viable product hold up in front of real users?F7MVPF8 · Traction: Does somebody pay, repeat, and across several customers with a recognisable channel?F8TractionF9 · Product-market fit: Do retention and unit economics work at small scale?F9FitF10 · Profitable growth: As it grows, does the unit margin hold?F10GrowthF11 · Profitability: Do the solution's flows cover the structure?F11ProfitabilityF12 · Scale: Does the model hold up under multiplication: operations, channels, geographies?F12ScaleF13 · Liquidity: Can whoever invested get out?F13LiquidityD1 · decision gate: closes F1D2 · decision gate: closes F2D3 · decision gate: closes F3D4 · decision gate: closes F4D5 · decision gate: closes F5D6 · decision gate: closes F6D7 · decision gate: closes F7DiscoveryR&DMarketScalethis project

The strip is that of the path diagram: the orange dot marks the project's current phase and the shading the phases already passed. Below, what the diagram's seven lines say about this phase, with the figures of the house's median project: they are orders of magnitude, not this project's figures, which are shared after qualification.

Phase of the pathF4 · Concept
Technical maturity (TRL)2
Commercial maturity (CRL)3 · value proposition
Financing roundRound 1 · Concept and proof: ≈ 0.53 M€ on the median curve · ≈ 0.40 M€ remain
Cumulative cost of the median project at the close of this phase≈ 0.55 M€
Median value of the startup at the close of this phase≈ 2.60 M€
Remaining risk72%
Typical funding of the stretchTax Lease; grants; angels

The journey

The thirteen phases, in seven rounds: what is passed, what is now, what is to come.

Each phase closes a question; with a yes the gate is crossed. For each one: the question, the TRL and the CRL it closes with, and what proves it. The rounds group the phases by commercial maturity, with their size on the median curve and their typical instruments: all seven, in how each project is financed.

PhaseThe question that closes itTRL at closeCRL at closeWhat proves it
Round 0 · Discovery · ≈ 0.22 M€ · Volcano and partners; visionary angels
F1 · Capture of the problem
Passed
Has a problem entered the network, brought by whoever suffers it?TRL noneCRL 1Problem formulated by its bearer, and entry channel identified: whoever suffers it tells the network, through a client, the consultancy or an ally.
F2 · Analysis of the problem
Passed
What is the process where the problem lives like, and is it worth solving?TRL noneCRL 2The current process, broken down into its steps. If a solution already exists, it is checked piece by piece that it is ineffective or inefficient. The exact point of pain. Frequency, cost and willingness to pay. Reliability of the source.
Round 1 · Concept and proof · ≈ 0.53 M€ · Tax Lease; grants; FFF; angels
F3 · Ideation
Passed
Are there plausible routes, and which one deserves the concept?TRL 1CRL 2Alternatives compared; reasoned choice.
F4 · Concept
Here it is now
Has the idea stopped being a hypothesis?TRL 2CRL 3An idea is a hypothesis; the concept is the idea turned into a verified mechanism, even if only theoretically. Theoretical verification is full science: physics has thought experiments, and with them Einstein changed our view of the world. Evidence: the mechanism described, the physical and economic limits checked on paper, the risks named. With the concept formulated (TRL 2) the memoria técnica is drafted, and with it the business plan: the dossier with which the project presents itself to funding.
F5 · Proof of concept
Ahead
Does the central mechanism work?TRL 4CRL 3The technological feasibility of the concept demonstrated with real instruments, mechanical, hardware and software, under controlled conditions and reproducibly.
Round 2 · Prototype and MVP · ≈ 0.70 M€ · Tax Lease; angels; convertible; pre-seed
F6 · Prototype
Ahead
Does the integrated system work in a relevant environment?TRL 6CRL 4Prototype operating outside the laboratory.
F7 · MVP
Ahead
Does the minimum viable product hold up in front of real users?TRL 8CRL 4Real use, structured feedback, observed abandonment.
Round 3 · Traction · ≈ 0.40 M€ · Seed / Series A; revenue-based
F8 · Traction
Ahead
Does somebody pay, repeat, and across several customers with a recognisable channel?TRL 9CRL 5Initial recurring revenue on the minimum sellable version; channel identified; acquisition cost measured.
Round 4 · Fit and revenue · ≈ 0.35 M€ · Series A
F9 · Product-market fit
Ahead
Do retention and unit economics work at small scale?TRL 9CRL 7Cohorts that stay; positive unit margin; observable organic growth.
Round 5 · Replication and profitability · ≈ 0.70 M€ · Series A/B; venture debt
F10 · Profitable growth
Ahead
As it grows, does the unit margin hold?TRL 9CRL 8Growth does not buy revenue at a loss: the unit metrics hold as the customers multiply, and the product is by now the minimum marketable product (MMP), ready for the broad market.
F11 · Profitability
Ahead
Do the solution's flows cover the structure?TRL 9CRL 8Operating break-even reached: the profit on the solution.
Round 6 · Scale · ≈ 0.30 M€ · Growth equity; project finance
F12 · Scale
Ahead
Does the model hold up under multiplication: operations, channels, geographies?TRL 9CRL 9Expansion without breaking margins or organisation. Internationalisation is a case of this phase, not a separate phase.
F13 · Liquidity
Ahead
Can whoever invested get out?TRL 9CRL 9Sale, secondary or flotation, which is only the rarest case. The profit belongs to the company; the liquidity, to the investor: they can be years apart.

How to come in

I am interested in this project

If you are a private investor, how your capital comes in and what it receives is in the convertible note; the order of magnitude of the stretch, in the simulation of the cost of the services.

The button takes you to the qualification with this project already noted: you do not have to explain which one it is.

We choose to go to the Moon in this decade and do the other things, not because they are easy, but because they are hard.
John F. Kennedy, 1962
Tax close before 31 December Turn your tax burden into a return