Paebbl Secures €22.8 Million in Series A Funding to Revolutionize CO2 Storage in the Built Environment

Rotterdam, [09-Oct-2024] – Paebbl, a pioneering company dedicated to transforming captured CO2 into permanent carbon-storing materials, has successfully raised €22.8 million in its Series A funding round. This investment will expedite Paebbl’s efforts to scale its innovative solutions and establish a robust value chain for CO2 storage within building materials, positioning the built environment as a crucial player in combating climate change.
The funding round was spearheaded by a consortium of tier-one financial and strategic investors, including DACH-focused venture capital firm Capnamic, alongside notable participants such as The Climate Pledge Fund (Amazon), global construction and materials leader Holcim, and several European industrial family offices, including Aurum Impact, the family office of German construction company Goldbeck. Existing investors, including 2050, Pale Blue Dot, and the Grantham Foundation, also contributed to the round.
By partnering with industry giants like Amazon, Holcim, and Goldbeck, Paebbl is accelerating the development of carbon-storing buildings and setting new benchmarks for sustainable construction practices.
With a foundation built on 15 years of applied research, Paebbl has demonstrated remarkable growth since its inception. Within just 18 months, the company progressed from gram-scale lab tests to bench-scale experiments, culminating in a fully operational pilot unit capable of producing 250kg of CO2-storing product daily.
In May 2024, Paebbl achieved a significant milestone by sequestering its first full ton of CO2 in its mineral product. Additionally, the company has successfully cast its first concrete structures using captured carbon, demonstrating the practical impact of its proprietary technology.
The newly acquired funding will enable Paebbl to commission its demonstration plant in the first half of 2025. This facility aims to increase production capacity ten-fold to three tons of product per day, sequestering up to one ton of CO2 daily. The plant will serve as a foundational step towards the commercial deployment of Paebbl’s technology, with plans for a commercial-scale facility to follow.
Paebbl will also continue expanding its existing hubs in Helsinki, Rotterdam, and Stockholm, where most of its 40 employees are based, while establishing a new hub in the UK.
Marta Sjögren, co-founder and co-CEO of Paebbl, stated, “We are incredibly proud of the progress we’ve made in such a short time, but there is so much more ahead. This funding allows us to take even bolder steps in our mission to position the built environment as a cornerstone of a decarbonized economy. The challenges we face are significant, but so too are the opportunities.”
Andreas Saari, co-founder and co-CEO of Paebbl, added, “We are excited to welcome early movers in their respective fields, Amazon and Holcim, as our first commercial partners. Their support will be instrumental in rapidly bringing our vision to market. Our goal is to transform the built environment into the world’s greatest carbon sink by innovating a natural process and turning it into a commercially viable, scalable service. With our new investors, we are poised to enter the next stage of our growth. The speed at which we have moved—from bench to pilot to demonstration in under 18 months—demonstrates our team’s commitment and capability to succeed.”
Christian Knott, managing partner at Capnamic, remarked, “What distinguishes Paebbl from other companies in this sector is their proven ability to build and scale businesses effectively. Despite being a young deep tech company, they have rapidly secured multiple customers and key partners while attracting exceptional talent to their team.”