CarbonFlow is on a roll

Neal Dikeman

CarbonFlow, a San Francisco startup led by Sustainable Industries columnist Neal Dikeman, announced it has raised an additional $1 million to close its Series A funding round.

The software developer created a program to help companies with registration, verification, certification and monitoring of carbon emissions as they work toward meeting the standards set by the Kyoto Protocol.

More carbon emissions were traded globally in the first half of 2008 than in all of 2007, according to Point Carbon. The market was worth $62 billion in 2007.

While the U.S. carbon market is still in its infancy, analysts are projecting it will be worth $1 trillion by 2020 if federal policymakers adopt a national carbon emissions cap-and-trade program.

CarbonFlow in July 2008 raised $2.9 million from Clean Pacific Ventures, OVP Venture Partners and Meridian Energy, according to the Cleantech Group.