CarbonX closes new investment round to scale Carbon Dioxide Removal (CDR) Portfolio Management
PRESS RELEASE - 5TH SEPTEMBER
FOR IMMEDIATE RELEASE
CarbonX closes new investment round to accelerate Carbon Dioxide Removal (CDR) transaction infrastructure
[Paris, France] – [05.09.2024] – CarbonX, the leading Permanent Carbon Removal Manager, is pleased to announce the closing of a new oversubscribed investment round, with the participation of Redstone, VR Ventures, Engie New Ventures and PROfounders.
CarbonX is working to help its global clients meet their climate goals by removing carbon permanently from the atmosphere. In a market characterised by low liquidity and high transaction complexity, the company enables organisations to manage risk through transparency and scientific credibility to deliver on their climate commitments with end-to-end carbon procurement services.
“The additional capital will support and accelerate the company’s expansion into new geographies and continued investment into building science-based tools to professionalise and accelerate the carbon removal industry” said Sébastien Dewarrat, Co-Founder of CarbonX.
"CarbonX has been dedicated to building a strong and lasting carbon removal market since its inception," said Paolo Piffaretti, CEO and Co-founder of CarbonX. "This recent investment round from key institutional stakeholders not only acknowledges our steadfast commitment but also demonstrates a shared confidence in our vision. We believe that, with the support and collaboration of our new partners, CarbonX is ideally positioned to consolidate its role as the leading intermediary for permanent carbon removal, both in terms of volume and value, across a diverse range of pathways."
CarbonX is uniquely placed to help our customers navigate the emerging CDR market and to contribute to scale the most promising CDR technologies.” said Jérôme Malka, Executive Committee member at ENGIE’s business entity ‘Global Energy Management & Sales’.
The new partners bring institutional experience in scaling critical climate infrastructure, further empowering CarbonX to expand its operations and help build the foundation of a sustainable carbon removal market and contribute to deliver innovative, sustainable solutions that address the pressing challenges of carbon emissions.
About CarbonX:
CarbonX is a leading Market Intelligence and provider of Carbon Dioxide Removal (CDR) Procurement, Financing and CDR Portfolio Risk Management services. The company expertly facilitates and manages CDR portfolios for global clients such as Adyen, BCG, or Euronext.
