Paebbl secures $25 million in Series A funding to innovate carbon-storing building materials

In a significant advancement for sustainable construction and carbon reduction, Paebbl, a pioneering company developing technologies to transform captured carbon dioxide into durable, carbon-storing materials, has announced the successful closure of a $25 million Series A funding round. These funds are intended to enhance Paebbl’s capacity to advance a scalable value chain for CO2 storage in building materials, a crucial step in utilising the construction sector as a mechanism for addressing climate change.

The funding round was spearheaded by Capnamic, a venture capital firm with a focus on the DACH region, alongside fresh investments from notable entities such as The Climate Pledge Fund, an initiative by Amazon; Holcim, a global leader in construction materials; and several European industrial family offices, notably Aurum Impact tied to Germany's concrete company Goldbeck. Pre-existing investors, including 2050, Pale Blue Dot, and the Grantham Foundation also participated, reaffirming their confidence in Paebbl's vision and trajectory.

Paebbl has been on a rapid growth trajectory since its inception, building on a robust foundation of 15 years of prior applied research. Within the company's first 18 months, it scaled operations from small-scale laboratory tests to producing 250 kilograms of carbon-storing products per day through a fully operational pilot unit. Notably, in May 2024, Paebbl achieved its first milestone of sequestering a complete tonne of CO2 within its mineral products. It also began integrating its technology into real-world environments by casting its initial concrete structures incorporating captured carbon.

With the newly secured financial backing, Paebbl is set to further these efforts by commissioning a demonstration plant scheduled for the first half of 2025. This facility is strategic in increasing production capabilities significantly—targeting a daily output of three tonnes of carbon-storing products and sequestering up to one tonne of CO2. This marks a pivotal phase towards commercialising Paebbl's technology, laying the groundwork for eventual large-scale deployment.

The company's growth strategy includes the expansion of its primary operational locations in Helsinki, Rotterdam, and Stockholm, where its team of 40 is predominantly based. Additionally, Paebbl plans to establish a new hub in the United Kingdom, broadening its geographical footprint.

Marta Sjögren, Co-founder and Co-CEO of Paebbl, expressed her enthusiasm about the company's progress and potential. "We're incredibly proud of the progress we've made in such a short time, but there's much more to come. This funding enables us to take even bolder steps in our mission to make the built environment a cornerstone of the decarbonised economy," she stated, highlighting the challenges and opportunities that lie ahead.

Her fellow Co-founder and Co-CEO, Andreas Saari, echoed this vision and confidence in their approach. "We are thrilled to welcome first movers in their respective fields, Amazon and Holcim, as first commercial partners that will help bring our vision to the market rapidly," Saari noted, emphasising the importance of these partnerships in aligning interests and propelling their innovative approach to global markets.

Paebbl's ambitious plans and rapid development underscore a decisive step towards transforming the built environment into a significant player in the fight against climate change, harnessing the natural process of carbon sequestration in a commercially viable and scalable manner.

Source: Noah Wire Services