Carbon dioxide removal (CDR) marketplace Supercritical has secured new funding that will support the expansion of its efforts focused on developing CO2 removal supply.
The funding round was led by Greencode Ventures, with participation from existing investors, including Lightspeed Venture Partners, RTP Global, and LocalGlobe.
The newly obtained funds will back CDR project development and commercialization as the corporate demand for carbon removals accelerates.
Supercritical will use the funding to grow its CDR supply development program, partnering with suppliers from first site deployment all the way to megatonne offtakes—with committed demand and end-to-end development, connecting them with potential buyers.
The marketplace intends to bring new CDR supply online, helping unlock the financing projects need to build the physical infrastructure required for global net zero goals.
To date, Supercritical has facilitated nearly 2 million tonnes of carbon removal, including a ten-year, one-million-tonne biochar offtake that also represents the largest US biochar deal so far.
In its efforts of bringing supply closer to net zero-oriented buyers, the marketplace works with a wide range of pathways, including biochar, enhanced rock weathering, direct air capture, mineralization, BECCS, and other permanent approaches.
Through its rigorous selection process, Supercritical creates high-quality CDR portfolios, and its scientific vetting protocol, led by Director of Climate Science Dr. Mai Bui, rejects 88% of projects assessed.
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As corporate CDR interest increases in the run-up to 2029 compliance markets, Supercritical notes that the pipeline of new projects that meet buyer requirements is lagging behind.
Leveraging its marketplace data and years of experience working with corporate buyers, Supercritical has a clear view of the market gaps and the actual needs of corporate buyers.
Michelle You, CEO and co-founder of Supercritical, explained, “The gap between a promising project idea and a signed deal is wide. Closing it requires detailed engineering plans, lifecycle assessments, audit-ready MRV, and commercial structures that hold up to corporate due diligence.”
She added, “This funding enables us to systematize our work to help promising projects around the world get to market faster, at higher quality, and at a bigger scale.”
