freshearth
Investor Document · 2026 · Wholesale
Volume I · The Carrier Line
Healed land used to be
a private club.
Volume I · The 7 Farms · NSW
Three acts · Movement · Treasury · Operating system
Wholesale offer · s708(8), s708(11) · AU residents only · CR-004 retail tranche pending · informational only · not an offer.
Act I · Movement
Healed land used to be a private club.
The problem they hid · the movement that opens it.
Wholesale offer · s708(8), s708(11) · AU residents only · CR-004 retail tranche pending · informational only · not an offer.
§ The Receipt
Why now
These are not predictions. They are the bill on the receipt none of us saw.
| Topsoil carbon lost since 1820 | 43% | global average · IPCC + CSIRO |
| Australian farms operating at loss | 1 in 3 | ABARES farm survey · 2023 |
| Biodiversity lost since 1970 | 60% | WWF Living Planet Index |
| Paid for the bill above | A$0 | to date |
Public sources · all four · this is the only data spread before the thesis.
“Cheap food hid the bill.”
Wholesale offer · s708(8), s708(11) · AU residents only · CR-004 retail tranche pending · informational only · not an offer.
§ The Movement
From a cohort, to a continent, to a currency.
Forty-two wholesale investors built the first instance. Seven Australian farms, audited end of year one, are the proof. The retail-eligible structure being built will let ordinary savers participate once the structure is complete and disclosed.
Wholesale offer · s708(8), s708(11) · AU residents only · CR-004 retail tranche pending · informational only · not an offer.
§ Act I · Movement · Verdict
Owned by forty-two. Open to anyone eligible.
Donating helps.
Forty-two became the first.
Owning compounds.
Wholesale offer · s708(8), s708(11) · AU residents only · CR-004 retail tranche pending · informational only · not an offer.
Act II · Treasury
As the land heals, the treasury compounds.
The fund · what your dollar buys · how it pays back.
Wholesale offer · s708(8), s708(11) · AU residents only · CR-004 retail tranche pending · informational only · not an offer.
§ The Treasury
The treasury is the land.
We do not hold a basket of credits. We hold seven NSW farms · 6,673 hectares · operating through year one. Verified outcomes monetise via Australian Carbon Credit Units. The treasury compounds in the soil itself.
Wholesale offer · s708(8), s708(11) · AU residents only · CR-004 retail tranche pending · informational only · not an offer.
§ Hillview · the single-farm proof
Hillview Park · the math you can audit.
One named property in the syndicate. Year one restoration cost, year one audited return. The same audit runs every farm, every year.
| Property | Hillview Park | 1,167 hectares · NSW |
| Restoration cost · Year 1 | A$565,000 | operator-led works |
| Audited return · Year 1 | A$1,840,000 | Pangolin Associates · ten dimensions |
| Verification cadence | Annual · same firm | Pangolin · public methodology |
| Market | ACCU · regulated | Australian Carbon Credit Units |
| Manager fee | Capped | structurally separated from unit-holder upside |
| Cohort | 7 farms · 6,673 ha | year one complete |
Single-farm pro-forma · the syndicate runs seven.
“Once a debt. Now a dividend.”
Wholesale offer · s708(8), s708(11) · AU residents only · CR-004 retail tranche pending · informational only · not an offer.
§ The Token (FEVT)
Patient capital, paid in soil.
FEVT is the unit of beneficial interest in the syndicate. It is held by wholesale investors today under s708(8) and s708(11). Retail eligibility is being established under Australian financial services law; once disclosed, ordinary savers will be able to hold the same instrument. FEVT is not a currency. It is title to the work.
Wholesale offer · s708(8), s708(11) · AU residents only · CR-004 retail tranche pending · informational only · not an offer.
§ Act II · Treasury · Verdict
Acquired outright. Audited annually. Monetised through ACCU.
Once a debt.
Now a dividend.
The treasury is the land.
Wholesale offer · s708(8), s708(11) · AU residents only · CR-004 retail tranche pending · informational only · not an offer.
Act III · Operating system
Fresh Earth is not a farm. It's the rails underneath one.
The operating system · what makes the movement and the fund work.
Wholesale offer · s708(8), s708(11) · AU residents only · CR-004 retail tranche pending · informational only · not an offer.
§ What Fresh Earth Is
Each farm teaches the next.
One protocol. Annual audit on ten outcome dimensions. Same auditor, same method, every farm, every year. The library of practice is the asset. Operator runs the land — Pangolin audits the recovery — outcomes monetise on ACCU — unitholders carry the upside. The audit funds the works. The land funds the audit. The unitholders fund the land.
Wholesale offer · s708(8), s708(11) · AU residents only · CR-004 retail tranche pending · informational only · not an offer.
§ The Ten Dimensions
What gets measured. Who measures it. How often.
Pangolin Associates audits ten outcome dimensions annually. Five ecological. Five social. Public methodology · same firm every year · the signal compounds.
| Ecological · 01–05 | Carbon sequestration · Biodiversity · Water cycle · Soil health · Chemical-free practice | annual · same firm |
| Social · 06–10 | Food quality · Land value · Farmer returns · Indigenous stewardship · Women in farming | annual · same firm |
| Auditor of record | Pangolin Associates | single firm · multi-year continuity |
| Cycle | Annual | year one complete |
| Public | Yes | methodology + findings |
The instrument is the outcome.
“Different jobs. One ledger.”
Wholesale offer · s708(8), s708(11) · AU residents only · CR-004 retail tranche pending · informational only · not an offer.
§ Act III · Operating System · Verdict
Practice on the ground. Proof on the ledger. Subordinate to the spine that follows.
The audit funds the works.
The land funds the audit.
The unitholders fund the land.
Wholesale offer · s708(8), s708(11) · AU residents only · CR-004 retail tranche pending · informational only · not an offer.
Ownership of healed land —
not just for big funds anymore.
Wholesale offer · s708(8), s708(11) · AU residents only · CR-004 retail tranche pending · informational only · not an offer.
§ The Ask
Wholesale terms · the second tranche.
The first instance is operating. The retail-eligible structure is being established. Wholesale terms for the second tranche are available now; retail terms will be disclosed once CR-004 clearance lands.
Terms
| Vehicle | Syndicate · wholesale unit trust |
| Framework | s708(8) · s708(11) (Corporations Act) |
| Auditor | Pangolin Associates · annual |
| Market | ACCU · regulated national exchange |
| Manager fee | Capped |
| Upside | To unitholders |
| Min ticket | Per s708 sophisticated/wholesale framework |
| Retail status | Tranche being structured · CR-004 pending · disclosure to follow |
Use of funds
01
Acquisition
Next-cohort farm purchases (NSW expansion · post-Hillview model)
02
Restoration works
Operator-led · year one cycle
03
Audit + ratification
Pangolin Associates · ten outcome dimensions
04
Structure
Retail tranche disclosure + CR-004 process
Luke Makepeace
Fresh Earth · Wholesale enquiries
Wholesale offer · s708(8), s708(11) · AU residents only · CR-004 retail tranche pending · informational only · not an offer.
freshearth
The land does the work.
The audit makes it count.
The treasury is the land.
Wholesale offer · s708(8), s708(11) · AU residents only · CR-004 retail tranche pending · informational only · not an offer.
Wholesale offer · s708(8), s708(11) · AU residents only · CR-004 retail tranche pending · informational only · not an offer.