Specimen 02 · The unmeasured asset
Healed land is worth more than ignored land. Until 2024, no one could measure the difference.
A hundred years measuring what extracts. We never had a number for what gives back.
FIG 02 · MEASUREMENT RECORD · 1924 — 2024
Specimen 03 · The turn
Regeneration is now measurable to the dollar. NPV delta per farm: A$21.4M, post-audit, 10-year horizon.
CMF v1 §6 · pricing logic live in code · audit-grade specimen.
FIG 03 · NPV STEP DELTA · A$M / 10 YR · INDICATIVE
NPV (10y)
22.4M
A$ · post-audit
IGNORED
1.0M
A$ · land only
DELTA
+21.4M
A$ · per farm
METHOD
CMF v1
§6 · audit pricing
AUDIT
CER
soil-C method
WINDOW
10
years · indicative
SAMPLE
Hillview
1,167 ha · NSW
CADENCE
Q
verified · per yr
TIER
NEAR
TERM · institutional
Specimen 04 · The thesis
A new asset class. Measurable. Profitable. Owned.
Built for capital that wants real assets with measured impact. Scientifically measurable. Demonstrably profitable.
FIG 04 · THESIS LEDGER · 7 FARMS · 6,673 HA
PORTFOLIO
7
farms · NSW · VIC
AREA
6,673
hectares · cadastral
NET / YR
+1.84M
A$ · audited
COST
−565k
A$ / yr · operating
NPV (10y)
22.4M
A$ · post-audit
MULTIPLE
4.08×
value : cost · per yr
STAGE
05
audit · live
AUDIT
Q2
CY26 · target
TIER
NEAR
TERM · institutional
Specimen 05 · Trajectory · indicative
Ten farms underwritten. A 200× expansion modelled across ten years. Each rung audited before the next is funded.
Cohort capital deploys against rung one. Subsequent rungs unlock on verified hectare, verified yield, verified tonne — not on narrative.
Forward-looking — indicative only. Wholesale investors only (Corporations Act s708(8)/(11)). Capital is at risk; past performance is not indicative of future results (RG 170). Read the Information Memorandum.
Specimen 06 · Hillview math
Project cost is a fraction of value created.
Trust you can price.
Forward-looking — indicative only. Wholesale investors only (Corporations Act s708(8)/(11)). Capital is at risk; past performance is not indicative of future results (RG 170). Read the Information Memorandum.
PROJECT COST
A$565k
per year · suppliers + operator
SRC · CMF v1 §6 · audited
NET TO TREASURY
A$1.84M
per year · audited
SRC · CER · Soil Carbon · Stage 5
CO-BENEFITS
A$469k
per year · biodiversity + water + yield
SRC · Nature Repair · Eurofins
LAND APPRECIATION
+2.3% / yr
verified CAGR · 10-yr horizon
SRC · Hillview cadastral · 1,167 ha
Specimen 07 · Five returns
Carbon. Biodiversity. Food. Water. Yield. Five verified outcomes per project.
Each one carries a dollar tag and an impact tag.
| METRIC | BASELINE | VERIFIED | Δ |
|---|---|---|---|
CARBON tCO₂e · stored | 0 | 12,400 | ▲+12,400 SRC · CER · ERF · M-Series |
BIODIVERSITY index · 0—100 | 38 | 67 | ▲+76% SRC · Eurofins · Nature Repair |
FOOD tonnes · nutrient-dense | 420 | 780 | ▲+86% SRC · CMF v1 §4 · Nutrient panel |
WATER mm · infiltration | 24 | 58 | ▲+142% SRC · Eurofins · soil hydrology |
YIELD kg / ha · weighted | 1,820 | 2,640 | ▲+45% SRC · Hillview operator · audited |
Specimen 08 · Compounding moat
Year 1 cost A$565k, value A$2.31M (4.08×). Year 10 NPV A$22.4M (39.6×). The library compounds; the cost per added farm falls 12%.
142 compliance templates · 7 farms · 23 verified audit cycles · IP wholly owned.
FIG 08 · COMPOUNDING MOAT · A$M · YEAR 1 / YEAR 10
TEMPLATES
142
compliance · CMF v1
PLANS
07
farms · land plans
AUDITS
23
verified cycles
COHORTS
03
cohort waves · funded
COVERAGE
6,673
hectares · cadastral
COST / FARM
−12%
per added farm
CYCLE
Q
verified · per yr
IP STATUS
OWNED
wholly · FEU PTY
TIER
NEAR
TERM · institutional
Specimen 09 · One ledger
Investors fund. Farmers plan. Eaters trace. One verified record, hash-chained and independently audited. The differentiator is the trust.
FIG 09 · ONE LEDGER · TRUST-FLOW · CMF v1 §5
INVESTORS
03
reads · ROI · risk
FARMERS
07
reads · writes · plan
EATERS
∞
reads · trace · origin
TRUST · GREEN
189
audited · verified
TRUST · AMBER
24
partial · in-progress
TRUST · RED
00
failed · escalated
EVIDENCE
1,247
objects · hash-chained
RECEIPTS
Guardian
protocol · public
TIER
NEAR
TERM · institutional
Specimen 10 · The pioneer
Hillview Park. 1,167 hectares. NSW Southern Tablelands. Stage 5 audit, now.
FIG 10 · HILLVIEW PARK · NSW SOUTH. TABLELANDS
AREA
1,167
hectares · cadastral
STAGE
05
audit · live
STATUS
LIVE
Apr 2026
NPV (10y)
22.4M
A$ · post-audit
NET / YR
+1.84M
A$ · audited
COST / YR
−565k
A$ · operating
COHORT
01 / 07
pioneer farm
PARTNER
CRC
TIER-2 · ZNE-AG
OPERATOR
Graham
Farmer of yr · 2013
Lachlan Graham — Australian Farmer of the Year 2013 — runs the regen practice. Tier-2 partner, federal ZNE-Ag CRC.
Specimen 11 · The terms
The terms.
Future-equity agreement. Wholesale only. Q2 CY26 first close target.
Vehicle
Future-equity agreement
Total target
A$6M
First close
A$1M
Valuation cap
A$50M
Discount
20%
Audience
Wholesale only · s708(8) / s708(11)
LEGAL · WHOLESALE INVESTORS ONLY
Confidential. For wholesale investors only — sophisticated investor (s708(8)) or professional investor (s708(11)) of the Corporations Act 2001 (Cth). Not a regulated disclosure document.
Wholesale and professional investors only as defined in s708(8)/(11) of the Corporations Act 2001 (Cth). Land Tokens are NOT being issued in this raise — the instrument is equity in Fresh Earth Universe Pty Ltd. Capital is at risk; past performance is not indicative of future results. Forward-looking statements are subject to assumptions disclosed in the Information Memorandum and depend on factors outside Fresh Earth's control (RG 170). Read the IM and the Subscription Agreement before deciding.
The raise — at a glance.
Future-equity agreement. Wholesale only. Q2 CY26 first close target.
Wholesale and professional investors only (Corporations Act s708(8)/(11)). Capital is at risk; past performance is not indicative of future results (RG 170). Forward-looking; indicative only. Read the IM and the Subscription Agreement before deciding.
Set in Newsreader (Production Type & Design, 2021, distributed via Google Fonts under the SIL Open Font License) at variable optical-size axis 14–144 and weight axis 380–800. Display set in italic; body set in roman with oldstyle figures and hung punctuation. Numerals set in DM Mono (Colophon Foundry, 2014) at 9.5px small-caps for technical metadata.
Diagrams are bespoke vector specimens — five plates authored for Variant B in the woodcut tradition of the Whole Earth Catalog (1968, Stewart Brand) and five dieline specimens for Variant C in the tradition of Stripe Press editorial publications.
Photography commissioned for Variant A in the Salgado / Patagonia / Aesop documentary register and for Variant D in the Penn / Bloomberg Green specimen-photography register.
Edited and produced by Fresh Earth Studio, working as a studio of designers, photographers, copy editors, and a typographer. Each round was reviewed by a working group of senior critics and signed off by an independent creative director outside the studio.
Composed at Hillview Park, NSW Southern Tablelands, April 2026. Wholesale only — Corporations Act s708(8)/(11) — RG 170. Capital is at risk; past performance is not indicative of future results.