Paebbl, a Rotterdam, The Netherlands-based decarbonization technology company, raised €22.8m in Series A funding.
The round was led by Capnamic, with participation from The Climate Pledge Fund (Amazon), Holcim, and industrial family offices such as Aurum Impact, the family office of German construction company Goldbeck, 2050, Pale Blue Dot, and the Grantham Foundation.
The company intends to use the funds to expand operations and its development efforts.
founded by co-CEOs Marta Sjögren (ex-Northzone, investors in Spotify) and Andreas Saari (former CEO of Europe’s biggest tech festival, Slush), as well as Jane Walerud (first investor in Klarna), and Dutch mineralization scientist, Pol Knops, Paebbl is a mission-driven organisation focused on combating global warming at scale turning CO2 into carbon-storing materials.
In its first 18 months of existence, the company has moved from gram-scale lab tests to bench-scale experiments to a fully functioning pilot unit, producing 250kg of CO2-storing product daily. In May 2024, Paebbl reached its first full ton of sequestered CO2 in their mineral product – a major milestone for the company. At the same time, the company has now cast their first concrete structures in the field with captured carbon, showcasing the real-world impact of the proprietary technology.
With the new plant, Paebbl will ramp up their production capacity another ten-fold to 3 tons of product per day, sequestering up to one ton of CO2 per day.
Paebbl will continue expanding its existing hubs in Helsinki, Rotterdam, and Stockholm, where most of the 40 Paebblers are based, and open a new hub in the UK.
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FinSMEs
10/10/2024