Funding

Net Zero Company funding news – Carbon Removal Company Net Zero Company Secures $5.5 Million in Seed Funding

Jun 24, 2024 | By Startup Rise EU

Net Zero Company, a carbon removal startup situated in Stockholm, raises $5.5 million in venture money. In response to the anticipated requirement for at least 3 billion tonnes of carbon removals by 2030, Net Zero Company introduced the Carbon Removal Token (CRT).

Net Zero Company, a carbon removal startup situated in Stockholm, raises $5.5 million in venture money. In response to the anticipated requirement for at least 3 billion tonnes of carbon removals by 2030, Net Zero Company introduced the Carbon Removal Token (CRT).

SUMMARY

  • Net Zero Company, a carbon removal startup situated in Stockholm, raises $5.5 million in venture money.
  • Through the use of digital assets, The Net Zero Company is able to further its goal of creating a Net Zero Ecosystem.

The CRT provides traceability, accessibility, and transparency in the verified carbon credit market by utilising blockchain technology.

Among the Carbon Removal Token's salient characteristics are:

Security: The integrity and protection of carbon removals are guaranteed by certified carbon removal projects that are supported by a thorough replacement plan.

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Transparency: The CRT, which was created on the Ethereum blockchain, offers verifiable evidence of the environmental impact, boosting accountability and legitimacy.

Traceability: Thanks to blockchain technology, each CRT symbolises a tonne of carbon dioxide that has been sequestered from various nature-based programmes.

Accessibility: Carbon reductions and climate action are available for purchase by anybody, anywhere, through the CRT.

Read also - Trampoline funding news – B2B Home Décor Brand Trampoline Secures $5 Million in Seed Funding

Microsoft and Metaco/Ripple have teamed up with Net Zero Company to further their goal of revolutionising carbon removal technologies.

Håkan Nordkvist, CEO of Net Zero Company, comments, "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 democratise access to carbon removals by leveraging blockchain technology to digitise carbon removal credits. With escalating emissions and rising temperatures fueling environmental degradation, the need for effective carbon removal solutions has never been more urgent."

Oilinvest, VARO Energy, and SilviCarbon are the seed round's lead investors. The money will help with both international growth and the introduction of a new line of products, which will include the actual asset-backed token known as the Carbon Removal Token.

About Net Zero Company

Through the use of digital assets, The Net Zero Company is able to further its goal of creating a Net Zero Ecosystem. In order to help the digital asset space shift to net zero, one of the most important aspects of this is creating a Green Digital Asset Ecosystem.

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