Paebbl, a Nordic-Dutch climate tech scale-up, has closed a $25 million Series A to accelerate its efforts to turn captured carbon dioxide (CO2) into long-term carbon storage.
Amazon's Climate Pledge Fund participated in the investment, along with Holcim, while Goldbeck's family office, Aurum Impact, took an active part in the process; it became a significant step for the company on its way to combat climate change at the level of the built environment.
The investment was led by a group of strategic and financial players that included Capnamic, a DACH-region-focused investor, and the Amazon Climate Pledge Fund. Additional funding was received from new investors, while the old investors included 2050, Pale Blue Dot, and the Grantham Foundation, among others.
From the $25 million funding, Paebbl wants to move its technology to the operational level, allowing it to be used more widely. The captured CO2 is then put through a natural mineralization process at the company to convert it into industrial raw materials that can be used for construction, which gives more than merely a short-term storage solution for CO2.
The funding will also be used for Paebbl's continuous growth, as it plans to increase its coverage in several locations. Currently, its offices are located only in Helsinki, Rotterdam, and Stockholm; nevertheless, 40 individuals legally work for this company. Moreover, the company aims to expand its reach by opening a new hub in the United Kingdom, part of its strategic implementation in Europe.
The company plans to bring its demonstration plant online by mid-next year and then ramp up its capability to capture up to one ton of CO2 per day. This facility will set the ground for future pilot-based, commercial-scale plants. Thus, by partnering with giants such as Amazon, Holcim, and Goldbeck, Paebbl is setting the pace for progress in developing carbon-storing construction materials and creating new sustainable construction standards.
Paebbl was founded in 2021 by a team of experienced entrepreneurs and researchers, including Andreas Saari, Jane Walerud, Pol Knops, and former venture capitalist Marta Sjögren. The company's rapid progress has been noteworthy. In 2024, it reached a major milestone by sequestering its first full ton of CO2 in its mineral products.
The startup also successfully cast its first concrete structures using carbon-storing materials, demonstrating the real-world applications of its proprietary technology.
Building on 15 years of research, Paebbl has been transitioning to a commercial pilot unit within a record time to store 250 kilograms of CO2 products per day. The intended production expansion aims to achieve new goals of shifting the established built environment towards taking a stand in combating global warming.
The company's founders, Marta Sjögren and Andreas Saari, expressed confidence in growing the business quickly. Sjögren underlined the huge potential of a company's technology as the core for shifting the economy from carbonized to decarbonized. Saari spoke about partnerships with industry giants such as Amazon and Holcim as the key to the realization of this vision.