Retraction of my October 2020 article about NetZero

Apologies to my readers — I was duped

I published a story in October 2020 about a company called NetZero, founded by an Atlanta entrepreneur known as Joseph Kelly (and perhaps by other surnames, including Chinnock).

I published the article after having done what I thought was appropriate due diligence on the company’s claims.

Specifically, the company had provided academic research which seemed to support the idea that nurturing mycorrhizal networks in urban settings (especially green roofs) could sequester large amounts of atmospheric carbon dioxide.

The company had also provided a third-party assessment of the company’s technology as it related to a trial with Cummins Diesel — a large, multinational company — as well as a concept paper it had submitted to a prominent carbon credit standards organization.

In February, a mycologist in California, Christian Schwarz, contacted me suggesting that he and others in the mycological community had concerns about the scientific claims made regarding NetZero’s mycelial orbs.

After speaking with him, I contacted prominent academic experts in the field of mycorrhizal networks and solicited their opinions about NetZero’s scientific claims and likely efficacy.

These conversations convinced me that Mr. Kelly’s claims were exceedingly unlikely to be true. Considering the weight of evidence from these experts, I am embarrassed to acknowledge that my attraction to NetZero was misplaced.

I am interested in but entirely ignorant of the biology of fungi and had no business writing about processes about which I had no training or intuition without questioning bona fide experts like those to whom I spoke.

I pride myself on providing objective, fact-based, and high-quality information to my readers and I regret that I failed to meet my own standards in the case of NetZero.

On several of the experts’ suggestions, I will take this painful experience as a spur to highlight some of the excellent, nuanced work being done by bona fide experts in this field about the potential for this research to help our civilization mitigate and adapt to climate change and to engage in climate restoration.

My first rule of investing is to be skeptical. I did not follow my first rule in the case of NetZero. My apologies to you all.

Thank you.