Industrial certification provider Isometric announced an investment by financial technology and data services provider and exchange operator Intercontinental Exchange (ICE), expanding its Series A financing round, alongside new investors, to $50 million, from an initial $40 million announced in June.
The financing round comes as Isometric moves to extend its AI-powered certification platform from its initial focus on carbon markets to the broader industrial economy, including areas such as industrial emissions, energy, fuels, and materials.
London-based Isometric was launched in 2022 by identity certification company Onfido co-founder Eamon Jubbawy, to target environmental and industrial certification, with an initial focus on carbon markets. The company operates a public carbon removal registry that enables buyers and suppliers to access project data, protocols, and issued carbon removal certificates. The platform provides transparency into key carbon removal attributes, including durability, additionality, uncertainty, and net carbon impact, with project and certification information available for public review. The company also offers certification solutions spanning superpollutant reduction, low-carbon energy, fuels, and materials.
According to Isometric, its expanding focus comes amidst the largest industrial build-out in decades, driven by electrification, automation, and data centers, creating growing demand for industrial certification, with projects required to demonstrate that they meet regulatory, safety, and sustainability standards to secure buyers, attract investment, and obtain permits.
Isometric CEO Eamon Jubbawy said:
“Provable output is financeable output. Our AI agents check every data point behind an industrial claim, turning it into a verified asset. ICE has spent decades building the infrastructure the world’s financial markets depend on, and they’re now backing Isometric to do the same for the industrial economy.”
Isometric said that the backing from ICE, which operates the NYSE and the world’s largest environmental and energy markets, will accelerate its expansion, bringing its certification technology together with ICE’s financial market infrastructure and data expertise.
Gordon Bennett, Managing Director of Utility Markets at ICE, said:
“We believe analogue markets can be transformed through digital infrastructure, and that the partners and platforms we back will define the next chapter of environmental markets. That belief, combined with Isometric’s approach to verification and data integrity, is what compelled us to invest.”
