Finnish carbon removal startup Carbo Culture announced Tuesday it had secured $18.3 million in а recent Series A funding round to advance the commercialization and implementation of its carbon removal technology.
Thе capital injection was co-led by GenZero, founded by Singapore’s state-owned investment company, and Silicon Valley-based venture capital firm True Ventures, with participation from Finnish state-owned Tesi (officially Finnish Industry Investment Ltd) as well as other notable climate tech investors and family offices.
“To accelerate the green transition, companies like us need partners who understand the global energy transition and carbon markets, and are able to support companies in leading the space as they scale,” Carbo Culture’s CEO and co-founder Henrietta Moon said in a comment, praising GenZero for being “such an important partner for us at this growth inflection stage”.
Expressing enthusiasm for the financial boost, Carbo Culture highlighted its commitment to expedite progress, broaden operational horizons, and continually innovate within the realm of carbon removal.
After the successful commissioning of R3, one of Europe’s largest biochar plants in August of this year, the company is now poised to usher in the next phase of commercialization and deployment, citing plans to initiate commercial-scale projects with capacity of 20 kilotons of carbon dioxide per annum (20kt CO2/a).
Established in 2017, Carbo Culture operates as a climate technology company with a focus on creating a highly scalable biochar carbon removal solution.
Through the utilization of its specialized reactors, the company converts waste biomass, storing carbon permanently in the form of biochar—a stable and inert substance.
The versatile applications of biochar extend across diverse sectors, including agriculture and construction.
Furthermore, Carbo Culture’s methodology not only facilitates carbon removal but also contributes to the generation of renewable energy, thereby fostering a more sustainable energy landscape.