- Paebbl has successfully closed a Series A funding round of USD 25 Million aimed at accelerating technology scale-up for CO2 storage in building materials. - This funding positions the built environment as a key player in combating climate change by turning captured CO2 into permanent construction materials. - The funding round was led by Capnamic, enhancing Paebbl's reach in Germany. - Capnamic's partner Christian Knott praised Paebbl's rapid commercial traction and the incorporation of best practices from the software industry. - New investors in the funding round include Amazon's Climate Pledge Fund, Holcim, and several influential European industrial family offices. - Paebbl has scaled up production capacity by over 100 times within the first 18 months and aims for a further 20-fold increase by launching a demonstration plant in Rotterdam. - The company's production capacity has evolved from hundreds of grams to over 200-300 kg per day in less than two years. - The pilot plant is producing carbon-storing materials used in concrete structures for internal tests and customer projects. - Paebbl plans to establish a first commercial plant to deploy technology on a large scale. - The new funding will facilitate the expansion of existing hubs and open a new hub in the UK to attract top talent. - Paebbl's go-to-market strategy focuses on building strong partnerships across the industry to accelerate the introduction of carbon-storing materials. - Amazon and Holcim are early movers as commercial partners, supporting the development of sustainable construction solutions. - Paebbl's technology aims to convert CO2 into a scalable industrial raw material, creating permanent carbon stores in the built environment. - The company was founded in 2021 by experienced entrepreneurs and is supported by planet-aligned investors committed to sustainability efforts.

We’ve raised USD 25M to supercharge CO2 Storage in the Built Environment

October 9, 2024

We at Paebbl are happy to announce the successful close of our Series A of USD 25 Million. This new capital will accelerate our technology scale-up and connect the value chain for CO2 storage in building materials, positioning the built environment as a key player in combating climate change.

Paebbl is a decarbonisation technology company, scaling up a technology to turn captured CO2 into permanent, future-proof construction materials. This solution offers both permanent CO2 storage and a carbon-negative alternative to today's heavily emitting cementitious materials.

More about Paebbl in the footer and at www.paebbl.com

About the financing round

The funding round was led by Capnamic, significantly strengthening our reach in the DACH market, particularly Germany, Europe’s largest industrial power. With Capnamic’s strong track record in supporting disruptive early-stage companies, this strategic alignment enhances our ability to penetrate one of the most crucial markets for industrial innovation in Europe.

Capnamic Partner Christian Knott who led the investment commented: "I have been following the decarbonisation efforts of this industry for a while now and am very impressed by the speed that the team at Paebbl displays in getting to first commercial traction. The combination of diligent engineering and best practices from the software industry, like rapid prototyping, can pave the way for unprecedented speed in this industry.”

In addition to Capnamic, several new investors joined the round, including Amazon's Climate Pledge Fund and the global building materials leader, Holcim through its Holcim MAQER Ventures. Other investors include influential European industrial family offices, like Aurum Impact and the Family office of Antti Herlin, which is also a major shareholder in KONE. We also saw continued support from existing investors, with 2050 doubling down on its investment, along with participation from Pale blue dot and the The Grantham Foundation for the Protection of the Environment.

From Grams to Tons: Our >100x Growth in Less Than Two Years


Our Co-Founder Pol inspecting the just-arrived bench scale reactor

Particularly in climate tech, execution speed is everything. At Paebbl, we have scaled up our early production capacity by 100x in our first 18 months of existence, and are currently on track to make another 20x jump in scale by completing our continuously operating demonstration plant in Rotterdam and bringing it online during 1H25.

When setting up the company, and after raising our Seed round in February 2022, we started from outsourced lab-scale experimental production of hundreds of grams per day, and in May 2023, brought online an in-house benchtop reactor with a capacity of producing 2-3 kg of product per day. Only five months later, we commissioned our pilot plant in Rotterdam in November 2023, bringing our daily production capacity up to 200-300 kg of product per day.
Each kilogram of our carbon-storing material is made up of between 15-30% of CO2.

After moving to larger facilities and re-starting production, our pilot scale production allowed us to reach the first full ton of CO2 mineralised in May 2024.


Scaling Up: Making things concrete

The pilot plant production of our Carbon-storing SCM has been going into casting our first real-scale concrete structures in internal tests as well as customer projects. Looking ahead, our next milestone is to commission our demo plant during the first half of 2025. This facility will lay the groundwork for the commercial deployment of our technology, which will start with a First-Of-A-Kind commercial plant.

"We're incredibly proud of the progress our team has made in such a short time, but for us this still feels like day zero. This funding enables us to execute even faster with our customers and leap ahead towards our objective to make the built environment a cornerstone of the decarbonized economy," said Andreas Saari, Co-CEO and Co-Founder of Paebbl.

With the new funding, we are actively expanding our existing hubs in Helsinki, Rotterdam, and Stockholm, while also opening a new hub in the UK in the near future. These expansions reflect our commitment to going where the deepest talent hubs are as we grow our team.

Aligning the Value Chain: An Integral Part of Our Vision

Accelerating the market introduction of this new generation of CO2-storing material requires a coordinated effort across the entire value chain. Our go-to-market strategy is focused on building strong, aligned partnerships across the industry. By collaborating with leaders like Amazon, GOLDBECK, and Holcim, we are pioneering the development of carbon-storing buildings, setting new standards for sustainable construction.

“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 the market rapidly. Aligning interests is at the core of our commercial ethos,” added Marta Sjögren , Co-CEO and Co-Founder of Paebbl.

Amazon’s Climate Pledge Fund expressed excitement about partnering with us: "We are excited to partner with Paebbl to advance our Climate Pledge and help decarbonize our own value chain. Paebbl’s innovative approach to CO2 sequestration in the built environment aligns perfectly with our commitment to sustainability, and we believe this partnership will be instrumental in driving forward our goals,” said Phoebe Wang, Partner at the Amazon Climate Pledge Fund.

Holcim, the global leader in building materials, also shared their enthusiasm: "Paebbl’s pioneering technology offers a game-changing pathway to creating truly climate-aligned building materials, and together, we aim to bring these innovative solutions to market, setting new standards for sustainable construction,” said Nollaig Forrest, Chief Sustainability Officer at Holcim.

About Paebbl

Paebbl's technology converts CO2 into a future-proof industrial raw material that turns the built environment into a permanent carbon store. Our mineralisation process is nature-inspired and technology-enabled. Founded in 2021 by serial founders Andreas Saari and Jane Walerud, applied researcher and mineralization veteran Pol Knops, and former venture capitalist Marta Sjögren, we are on a mission to bring to market a truly scalable carbon removal technology within the coming decade. Paebbl is a joint Nordic-Dutch effort, privately financed by planet-aligned investors such as Capnamic, Amazon’s Climate Pledge Fund, 2050.do, Pale Blue Dot, Aurum Impact, and the Grantham Foundation.

For more information, please contact Connor Batty at Deliberate PR, connor ( at ) deliberate-pr.com