German startup Novocarbo has clinched a €25 million investment from SWEN Capital Partners. This marks a significant milestone in Europe’s carbon dioxide removal (CDR) efforts over the last year. The funds will bolster Novocarbo’s ambition to deploy a continent-wide net-zero infrastructure. It plans to erect up to 200 Carbon Removal Parks by 2033.
Pioneering net-zero solutions
Since its inception in 2017, Novocarbo has been at the forefront of the biochar-based carbon removal industry. It has launched three Carbon Removal Parks in Germany. Now, with over 35 employees, the company is a leader in creating sustainable carbon materials and regenerative energy.
Caspar von Ziegner, CEO of Novocarbo, stated, “Our only chance to limit global warming to 1.5 degrees is by unlocking the full potential of impactful net-zero technologies like Biochar Carbon Removal. We’re happy to have found a strong partner in SWEN Capital Partners.”
A shared vision for decarbonization
SWEN CP’s investment aligns with its commitment to environmentally focused projects. Novocarbo’s Carbon Removal Parks directly contribute to decarbonizing industries with challenging emissions. Charlotte Virally, Investment Director at SWEN CP, highlighted Novocarbo’s role in generating green energy and capturing CO2, perfectly fitting their strategy.
The indispensable role of CDR
The IPCC underscores the necessity of CDR technologies alongside reducing greenhouse gas emissions. The recent EU Carbon Removal Certification Framework reaffirms this. Novocarbo’s solution not only captures CO2 but also produces biochar, a soil conditioner, furthering their impact.
Sven Wissebach, CFO of Novocarbo, commented on the significance of the investment, “Securing €25 million in funding in a challenging investment environment is a strong sign that net-zero solutions like our Biochar Carbon Removal technology are becoming increasingly important.”
Strengthening partnerships
The partnership with SWEN CP empowers Novocarbo to enhance its network for CDR and green heat in Europe. Novocarbo counts leading corporates among its customers and has secured long-term carbon credit agreements, totalling over 8000 tonnes of CO2. This collaboration paves the way for broader adoption of net-zero pathways, essential for mitigating climate change.
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