Adam Neumann’s crypto comeback company is reportedly refunding investors

In a development that will surprise few, former WeWork CEO Adam Neumann’s climate/crypto/carbon-credit startup Flowcarbon appears to be in the process of curling up to die, Forbes reported today.

Buyers of the outfit’s “Goddess Nature Token,” pitched as the first step in putting carbon credits on the blockchain, have reportedly been contacted about receiving refunds over the last month, but they must first sign a confidentiality agreement and release of claims against Flowcarbon. The company told Forbes this was “well known” that it has been offering refunds, citing carbon credit market conditions for the operational delay.

It’s not clear what, if anything, the company has achieved since it was founded in 2022, or if Neumann faithfuls like a16z will also be getting money back.

Flowcarbon is distinct from Neumann’s residential real estate company, Flow, which a16z has also funded.