Paebbl raises $25 million to supercharge carbon storage

The Paebbl team

Paebbl, the company turning captured CO₂ into permanent, carbon-storing materials, has raised a $25 million Series A funding round. The new capital will accelerate Paebbl’s work to scale up and complete a future-proof value chain for CO₂ storage in building materials, turning the built environment into a key player in mitigating climate change.

The funding round was led by a group of Tier One financial and strategic investors: DACH-focused VC Capnamic, with participation from additional new investors including The Climate Pledge Fund (Amazon), global construction and materials leader Holcim, and several European industrial family offices including Aurum Impact, the family office of the German construction company Goldbeck.

Existing Paebbl investors 2050, Pale Blue Dot, and the Grantham Foundation all participated.
By joining forces with global leaders like Amazon, Holcim, and Goldbeck, Paebbl is accelerating the development of carbon-storing buildings and setting new standards for sustainable construction.

Building on 15 years of prior applied research, Paebbl has demonstrated a remarkable growth rate. In its first 18 months of existence, the company has moved from gram-scale lab tests to bench-scale experiments to a fully functioning pilot unit, producing 250kg of CO₂-storing product daily.

In May 2024 Paebbl reached its first full tonne of sequestered CO₂ in their mineral product — a major milestone for the company. At the same time, Paebbl has now cast its first concrete structures in the field with captured carbon, showcasing the real-world impact of the proprietary technology.

Ramp up their production
Fuelled by the new funding round, the company is focused on commissioning its demonstration plant in the first half of 2025. With the new plant, Paebbl will ramp up its production capacity another ten-fold to three tonnes of product per day, sequestering up to one tonne of CO₂ per day. The facility will lay the groundwork for the commercial deployment of Paebbl’s technology, where the next step is a commercial-scale plant.

Paebbl intends to continue expanding its existing hubs in Helsinki, Rotterdam, and Stockholm, where most of the 40 Paebblers are based, as well as open a new hub in the UK. Paebbl co-founder and co-CEO Marta Sjögren said: “We are incredibly proud of the progress we have made in such a short time, but there is so much more to come. This funding enables us to take even bolder steps in our mission to make the built environment a cornerstone of the decarbonised economy. The challenge ahead is significant but so is the upside and opportunity.”

Paebbl co-founder and co-CEO Andreas Saari said: “We are thrilled to welcome first movers 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 go-to-market model. We have the chance to turn the built environment into the world’s greatest carbon sink, having taken a natural process, innovated upon it, and turned it into a commercially viable, scalable service. With new investors on board, we can enter the next stage of our growth.”

Capnamic managing partner Christian Knott concluded: “What sets Paebbl apart from other companies in this space is its demonstrable ability, across the senior team, to build and scale companies, and execute where it matters. For a young deep tech company, it has already won multiple customers and key partners, and has a continual stream of exceptional people joining the company.”