Deadline: Cohort-1 seats are limited. Panel/partner selection closes 31 Oct 2025.
VBTR Prime

Traders, Escrow Offer

Reserve a defined band (Mt CO₂e) with RFO/RFR rights and fund the recognition pathway so eligible supply shows up on time. Effective $0.33–$0.50 per tCO2e vs $3–$5 per tCO2e legacy insurance; 6–15× cheaper. Cohort-1 locks your rate for 36 months.

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BTR-First · AEF parity · Milestone-escrowed

LoA → CA → AEF → BTR

Sovereign process is the choke point. If authorization, first transfer, CA, or ETF reporting slip, supply doesn’t show. We run the calendar and evidence so recognition lands on time.

  • Priority access: country-scoped RFO/RFR in a single ledger; pre-BTR windows where AEF matches; BTR stays the anchor.
  • Full visibility: live tracker for dates, documents, registry events, and escalations.
  • Hard guardrails: milestone escrow with refunds or roll-forwards if a gate misses.

Why this exists

Recognition risk is sovereign-process risk. If a country stalls, supply doesn’t show. We run the cadence so decisions land on time and tonnes are recognized.

  • Lower cost of certainty: effective $0.33–$0.50 per t (by tier) vs $3–$5 per t legacy insurance → 6–15× cheaper.
  • Conflict-free access: defined Mt band, country-scoped, single ledger; pre-BTR windows on AEF parity.
  • Fund what moves the gate: your funds (plus 1:1 donor match) resource DNA capacity and the audit trail; governments pay no fees.
Ready to plan your desk’s access? We’ll send a tier brief and next steps.
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What you get

  • Priority access (RFO/RFR):contracted band by Mt CO₂e and project count; RFO/RFR until the cap is reached.
  • Country operations: we run LoA → CA → AEF → BTR with the DNA/CA; milestones visible in a live tracker.
  • Pre-BTR confirm: when host ↔ acquiring AEF entries match, we issue a parity memo to open your window earlier (BTR remains anchor).
  • Public-partner alignment: governments pay nothing; ministries receive success payments at ETF/BTR milestones (PFM-compliant).
  • Shortfall protection (guarantee): if caps aren’t met by January 2027, the unused band rolls forward to the next cycle.
  • Rate lock: your volume rate is fixed for 36 months (CPI adjust).
  • Donor match: 1:1 per country to double the delivery budget.
Turn these benefits into a concrete plan in two minutes.
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Tiers (simple, capped, delivery-first)

Tier Commitment (escrowed) Countries Access Band (Mt CO2e) Price $/tCO2e Project cap*
Pilot $500,000 1 1.0 $0.50/tCO2e up to 10 projects
Strategic $1,000,000 2 2.5 $0.40/tCO2e up to 25 projects
Anchor* $5,000,000 10* up to 15 $0.33/tCO2e portfolio scale

*Typical developer ≈ 100,000 tCO₂/yr ⇒ 1 Mt CO₂eq ≈ 10 projects of annual flow.

*Anchor footnote: 50% now secures first 5 countries in Cohort-1; next 5 start in Cohort-2 (January 2026).

Rule of use: rights apply until the Mt CO₂eq threshold or project cap is reached—targeted before the January 2027 BTR.

Which tier fits your desk? Start with a quick plan.
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How we lower sovereign-process risk

  • Named counterpart: a designated DNA focal point and reviewer SLAs; single channel for decisions and clarifications.
  • Country-fit templates: LoA pack, CA memo, and BTR text blocks tuned to host rules.
  • Orchestrated pipelines: sequenced developer submissions to hit the January 2027 BTR window, with sightlines to tonnage, LoA status, IR/AEF readiness, validator lane, and CA method (averaging or multi-year).
  • First-transfer rule defined: we record the host trigger (issuance, export, or retirement) and align all milestones and CA entries to it.
  • AEF parity check: host ↔ acquiring Party match yields a dated parity memo and evidence pack to open pre-BTR purchasing windows where policy allows; BTR remains the anchor.
  • Milestone escrow: funds release at M1–M4, with ≥25% tied to BTR publication; ministry success payments are PFM-compliant.
  • Transparent cadence: a shared tracker for dates, documents, registry events, flags, and escalation paths.
  • Forward credit: if timelines slip despite best efforts, any remaining band rolls forward to the next reporting window.
We handle the sovereign lane—so you can focus on trading.
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ROI vs. per-ton insurance (clean comparison)

You pay a fixed tier instead of $3–$5 per tonne. Note: where a standard (e.g., CORSIA) requires insurance/assurance, those requirements still apply. BTR Prime reduces timing/coordination risk and can lower reliance on such cover; it is not a substitute where mandated.

Tier Mt CO₂eq Price / tCO₂e Your Fee Insurance @ $3/tCO₂e (avoided) Insurance @ $5/tCO₂e(avoided)
Pilot 1.0 $0.50/tCO₂e $0.50M $3.00M (Δ $2.50M, 6×) $5.00M (Δ $4.50M, 10×)
Strategic 2.5 $0.40/tCO₂e $1.00M $7.50M (Δ $6.50M, 7.5×) $12.50M (Δ $11.50M, 12.5×)
Anchor 15.0 $0.33/tCO₂e $5.00M $45.00M (Δ $40.00M, 9×) $75.00M (Δ $70.00M, 15×)

Multiples compare your fixed fee to common revocation/CA insurance (per-ton avoided costs) and exclude upside from earlier eligibility or first-look economics.

Run the math for your desk and pick a tier.
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Escrow (pre-BTR checkpoints and publication)

MilestoneReleaseDefinition
M1 — Portfolio kick-off 30% LOI (government pre-approval, per project) signed; workplan agreed; country/approach shortlist opened.
M2 — First LoA (Host Party) signed 10% LoA issued/signed for the first project (scope, use, quantities/vintages, IDs) and logged.
M3 — Initial Report confirmation 20% Host Party confirms Initial Report (IR) elements for the relevant cooperative approach; LoA links recorded.
M4 — BTR confirmation (pre-TER clean) 10% §23(j) annex draft clean and AEF/CA parity memo complete and reconciled host ↔ acquiring Party.
M5 — BTR drafting scheduled 10% Article 6 sections (AEF + §23(j)) queued for the upcoming BTR window; project listed for annex/AEF tables.
M6 — BTR published 20% Official BTR publication/registry event confirming volumes; release pro-rated by published tCO₂e.

If a milestone isn’t hit, the unreleased balance stays in escrow or is refunded. Ministries only receive success payments on achieved milestones.

Our escrow is milestone-linked and delivery-weighted. Ready to participate?
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Availability & timing

Cohort-1
Trader participation limited to 5 countries to ensure delivery.
Cut-off
31 October 2025 (preserves the ~18-month runway to January 2027).
Cohort-2
Reserve with a $50,000 refundable deposit by December 2025; credited to your tier on join.
Country windows are limited. See if you’re ready to join the panel this quarter.
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Next steps

  1. Choose Pilot, Strategic, or Anchor.
  2. Share your country targets.
  3. Receive a one-page term sheet (RFO/RFR band, caps, escrow, donor-match note, grandfather clause).
  4. Countersign, fund escrow, and your country lane goes live.

RFO = Right of First Offer · RFR = Right of First Refusal.

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