Puro.earth, a carbon-crediting platform specializing in engineered carbon dioxide removal (CDR), has successfully secured €11 million in Series B financing. The funding round was led by Nasdaq, with participation from Fortum Innovation & Venturing. This new capital is intended to bolster the company’s infrastructure that supports its certification process for carbon removal suppliers.
The investment follows a period of expansion for Puro.earth, which has included enhancements to its biocharBiochar is a carbon-rich material created from biomass decomposition in low-oxygen conditions. It has important applications in environmental remediation, soil improvement, agriculture, carbon sequestration, energy storage, and sustainable materials, promoting efficiency and reducing waste in various contexts while addressing climate change challenges. More methodology and the introduction of an API for more efficient carbon removal credit trading. The company’s approach is centered on scientific validation, market discipline, and transparency to build confidence in the carbon removal sector.
Puro.earth aims to use the financing to strengthen its operational systems, which are crucial for scaling CDR deployment and meeting the rising demand for durable engineered removals. The company’s focus is on providing a trusted framework for the verification and issuance of carbon removal credits, such as the CO2 Removal Certificate (CORC). This is particularly relevant for technologies like biochar, which offer a long-term carbon storage solution.
The partnership with Nasdaq, which became a majority owner in 2021, highlights a strategic alignment aimed at advancing the technological and financial infrastructure of carbon markets. This collaboration is designed to provide the transparency and operational capacity required to make engineered carbon removal a credible and investable solution for both carbon and financial markets. By working with a financial technology leader like Nasdaq, Puro.earth can leverage expertise in market creation to provide accessibility and ease of action for buyers, which in turn stimulates further development in the carbon removal industry. The company’s origins trace back to Fortum’s Innovation & Venturing unit, where it developed its first standard for engineered carbon removal in 2019.
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