Netherlands’ Paebbl has raised €22.8 million in a Series A fundraising round. Paebbl transforms absorbed CO2 storage into polymers that can store carbon forever.
Tier one financial and strategic investors led the funding round, led by DACH-focused VC Capnamic. Other new investors included The Climate Pledge Fund (Amazon), a global leader in materials and construction Holcim, and several European industrial family offices, including German construction company Goldbeck’s family office Aurum Impact. Participating entities included Pale Blue Dot, the Grantham Foundation, and current Paebbl investors 2050.
With the additional funding, Paebbl will be able to expedite the completion of a future-proof value chain for CO2 storage in building materials, thereby transforming the built environment into a major contributor to climate change mitigation.
Through collaboration with prominent worldwide players such as Amazon, Holcim, and Goldbeck, Paebbl is driving the advancement of carbon-storing building technology and establishing novel benchmarks for sustainable building practices.
With a phenomenal growth pace, Paebbl has built on 15 years of previous applied research. The company has progressed from gram-scale lab studies to bench-scale research to a fully operational pilot unit, producing 250kg of CO2-storing product per day, within its first 18 months of operation.
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A significant milestone for the company was attained in May 2024 when Paebbl reached its first complete ton of sequestered CO2 in its mineral product. Concurrently, Paebbl has successfully cast its initial concrete structures using captured carbon, demonstrating the practical applications of the exclusive technique.
The company’s current goal is to commission its demonstration facility in the first half of 2025, driven by the recent fundraising round. With the new facility, Paebbl will be able to sequester up to one ton of CO2 per day while increasing its manufacturing capacity by a factor of ten to three tons per day. The building will establish the foundation for Paebbl to implement its technology commercially, and the next phase will involve developing a commercial-scale factory.
Most of the 40 Paebblers work in Helsinki, Rotterdam, and Stockholm, where Paebbl plans to expand its operations. It will also create a new center in the UK.
Founders Statements:
Andreas Saari, co-founder and co-CEO of Paebbl stated:
“We are thrilled to welcome early mover leaders in their respective fields, Amazon and Holcim, as first commercial partners that will help bring our vision to market rapidly. Aligning interests is at the core of our go-to-market model. We can transform the built environment into the largest carbon sink on Earth by taking a natural process, innovating it, and making it a scalable, profitable business. We can move on to the next growth phase now that we have new investors on board. Our team’s ability to move at the pace required to succeed is demonstrated by our ability to get from bench to pilot to demo in less than 18 months.”
Marta Sjögren, co-founder and co-CEO of Paebbl said:
“We’re incredibly proud of the progress we’ve made in such a short time, but there’s so much more to come. With the help of this support, we can carry out our goal of making the built environment the backbone of the decarbonized economy even more aggressively. A big challenge will be ahead, but there will also be opportunities and benefits.”
Christian Knott, Capnamic Managing Partner added:
“What sets Paebbl apart from other companies in the space is their demonstrable ability, across the senior team, to build and scale companies and execute where it matters. Even though they are a young deep tech firm, they have already quickly gained some important partners and clients, and they are constantly hiring great new employees.”
