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Net Zero Company Secures $5.5 Million to Revolutionize Carbon Removals

Net Zero Company raises $5.5M to launch the Carbon Removal Token, revolutionizing access to secure, transparent carbon removals
June 26, 2024

In a groundbreaking move for the carbon removal industry, Net Zero Company has successfully raised $5.5 million in a seed funding round aimed at expanding global operations and launching a pioneering product suite, including the innovative Carbon Removal Token (CRT). This initiative is set to enhance accessibility, security, and traceability in carbon removal efforts, marking a significant step towards a sustainable future.

Net Zero Company is spearheaded by CEO Håkan Nordkvist, an industry veteran with over a decade of experience as Head of Sustainability Innovation at IKEA Group. Nordkvist, along with the guidance of advisor Lord Ed Vaizey of Didcot, is driving the company’s mission to democratize access to high-quality, nature-based carbon removals. Nordkvist is also affiliated with the University of Cambridge accelerator, The Canopy, and The Core Climate Fund, reinforcing his commitment to sustainable innovation.

Founded in 2022 by a team of seasoned experts including carbon market lawyer Dr. Peter Ebsen and Swedish entrepreneurs Anders Forsberg, Robin Stenman, Robin Bäcklund, and forest equity veteran Carl Johan Krigström, Net Zero Company is positioned at the forefront of climate action. Their partnerships with tech giants like Microsoft and Metaco/Ripple further underscore their dedication to transforming carbon removal solutions through advanced technology.

The recent funding round will facilitate the launch of the Carbon Removal Token, a real-world, asset-backed token designed to make carbon removals more accessible and reliable. This blockchain-based token offers several key features including security backed by certified carbon removal projects, tansparency with verifiable proof of environmental impact, traceability through blockchain technology, and universal accessibility climate action. 

Håkan Nordkvist, CEO of Net Zero Company, emphasized the urgency of innovative solutions to combat climate change, stating, "There are no shortcuts to reach net zero; reducing emissions is crucial, but we must also innovate with new solutions. That's why we're committed to providing high-quality, nature-based carbon removals that are risk-free and easy to use. Our mission is to democratize access to carbon removals by leveraging blockchain technology to digitize carbon removal credits."

Echoing this sentiment, Lord Vaizey of Didcot, Advisor at Net Zero Company, remarked, “We need to systemically reevaluate how to mitigate the effects of global heating, and carbon credit systems are a practical solution that can be utilized by companies of all sizes. We have a collective responsibility to act, and the work that Net Zero Company does is an important step in the right direction.”

With a target of achieving at least 3 billion tonnes of carbon removals by 2030, the introduction of the Carbon Removal Token is timely and essential. The lead investors in this seed round include Oilinvest, VARO Energy, and SilviCarbon, all of whom recognize the transformative potential of Net Zero Company’s approach.

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