Climate-tech startup Carbonaide announced that it has raised €3.7 million (USD$4.4 million) in a new funding round, with the proceeds aimed at accelerating its solution to produce carbon-negative concrete.
Building materials are a key source of global greenhouse gas emissions. Cement production, an ingredient in concrete, accounts for approximately 8% of global carbon dioxide emissions, with over 900 kg of CO2 emissions generated for every 1000 kg of material produced.
Founded in 2022, Finland-based Carbonaide has developed a technology for mineralizing CO2 and sinking it permanently into concrete, making carbon-negative concrete profitable, the company said. The company’s process uses CO₂ in the concrete curing phase to permanently bind carbon into concrete products.
Carbonaide said that the new capital will enable it to scale its operations and accelerate key strategic initiatives, including strengthening its global sales and marketing efforts, developing its cloud-based software platform for managing CO₂ flow, carbon measurements and carbon credit issuance, and accelerating its R&D to enable applications of its technology beyond precast concrete, including in ready-mix and other concrete types.
Carbonaide CEO Tapio Vehmas said:
“With this momentum, we are well-positioned to scale our technology, expand our CO₂ partner network, and continue turning concrete factories into carbon sinks. There is clear demand in the construction industry for solutions that reduce emissions, showing that the industry is turning towards a low-carbon built environment.”
The current funding round was led by the company’s existing owners, Vantaan Energia, Redstone, and Ihantola Invest, and included participation by private investment companies and investors, including Zero Carbon Future Group, Product Ecology Holding B.V., Helkama Kiinteistöt, and Ikorni Invest.
Zero Carbon Future Group investor Panu Pasanen said:
“With a lifetime focus on decarbonizing construction, I am very excited by Carbonaide’s potential. Now that the technology is ready to scale, we are thrilled to support the growth of the company and also to partner with Carbonaide to supply carbon data for low-carbon products.”
Carbonaide sold its first certified carbon credits generated through CO₂ mineralization to a Finnish law firm earlier this month, demonstrating that its technology cuts emission and produces verifiable, tradable carbon-negative value, the company said.
