Paebbl, a Nordic-Dutch climate-tech startup, has successfully raised $25 million in a Series A funding round, marking significant progress in the sustainable construction sector. By converting captured carbon dioxide into permanent carbon-storing materials, Paebbl aims to contribute to the reduction of greenhouse gases. The investment will bolster the company’s efforts to establish a sustainable value chain for CO2 storage, positioning the construction industry as a key player in tackling climate issues.
In recent years, Paebbl has been at the forefront of innovation, focusing on transforming carbon capture into tangible building materials. This aligns with previous reports emphasizing the urgency for scalable solutions in carbon reduction. While past initiatives have laid the foundation, current funding accelerates the transition from research to practical applications.
Who Invested in Paebbl?
The funding round was led by Capnamic, a DACH-focused venture capital firm, and included new investors such as The Climate Pledge Fund (Amazon (NASDAQ:AMZN)), Holcim, and several European industrial family offices like Aurum Impact. Existing investors, including 2050, Pale Blue Dot, and the Grantham Foundation, also participated, signaling continued confidence in Paebbl’s approach. These strategic partnerships aim to expedite the company’s growth and enhance its market presence.
How Will the Funds Be Utilized?
Paebbl plans to utilize the fresh capital to commission its demonstration plant by the first half of 2025. This new facility will increase production capacity tenfold, enabling the company to produce 3 tons of carbon-storing materials daily and sequester up to one ton of CO2 each day. Additionally, Paebbl will expand its existing hubs in Helsinki, Rotterdam, and Stockholm, with plans to open a new hub in the UK.
The collaboration with major companies like Amazon, Holcim, and Goldbeck aims to accelerate the development of carbon-storing buildings, setting new standards for sustainable construction. In 18 months, Paebbl advanced from lab tests to a pilot unit producing 250kg of CO2-storing material daily, showcasing its rapid progress and commitment to innovation in carbon reduction.
Paebbl co-founder and co-CEO, Andreas Saari, expressed enthusiasm for the partnerships that align with the company’s vision.
“We are thrilled to welcome early mover leaders in their respective fields, Amazon and Holcim, as first commercial partners that will help bring our vision to the market rapidly,”
he said. The company showcases its potential to transform the built environment into a significant carbon sink, building on a natural process to create commercially viable solutions.
As the company progresses, it continues to attract significant interest and strategic partnerships, demonstrating its capacity to scale quickly. Capnamic’s Managing Partner, Christian Knott, acknowledged Paebbl’s unique position in the industry.
“What sets Paebbl apart from other companies in the space is their demonstrable ability, across the senior team, to build and scale companies, and execute where it matters,”
Knott stated.
Paebbl, established in 2021, has shown remarkable advancement in harnessing carbon dioxide for sustainable construction solutions. As the company embarks on its next phase, the potential for broader adoption of its technology looks promising. The construction industry plays a crucial role in addressing climate challenges, and Paebbl’s efforts are a testament to the innovative capabilities within the sector. As the global community seeks effective measures to combat climate change, such initiatives could prove instrumental in driving sustainable development.
