Puro.earth secures Series B financing led by Nasdaq, with Fortum Innovation & Venturing joining the round
Funding will strengthen supplier infrastructure, enable more frequent issuance of CO₂ Removal Certificates, and advance digital MRV integration
More than 1 million certificates issued to date, the highest volume of any engineered carbon removal registry
Puro.earth has raised €11 million ($12 million) in Series B financing to accelerate the scale-up of engineered carbon removal. The round was led by Nasdaq, with participation from Fortum Innovation & Venturing, and will be used to bolster supplier infrastructure and expand the issuance of high-integrity CO₂ Removal Certificates (CORCs).
“Carbon removal is evolving from innovation to infrastructure,” said Jan-Willem Bode, President of Puro.earth. “With this latest round of funding, we’re strengthening the systems that facilitate scale in CDR deployment and enhancing our customer offerings to better support the growing demand for durable engineered removals. Our approach is grounded in science, market discipline, and transparency.”
The investment follows a period of rapid growth, including the enhancement of its biochar methodology, the launch of an API for streamlined carbon removal trading, and partnerships designed to improve project financing. Puro.earth also advanced its certification processes to support demand for durable removals at scale.
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“With this investment, we aim to accelerate our shared vision of enabling high-integrity carbon markets,” said Fredrik Ekström, Head of Carbon Markets at Nasdaq and Chairman of the Board at Puro.earth. “Together with Nasdaq’s efforts to advance the technological infrastructure of carbon markets, Puro.earth is delivering the transparency and operational capacity essential to making carbon dioxide removal (CDR) a credible and investable solution in both carbon and financial markets.”
Founded in 2019 within Fortum’s Innovation & Venturing unit, Puro.earth created the first standard dedicated to engineered carbon removal. Nasdaq became majority owner in 2021. The company has since issued more than 1 million CORCs — the largest volume of any engineered CDR standard and registry to date.
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