News
Net Zero Company Secures $5.5 Million Seed for Blockchain-Based Carbon Removal Token
Stockholm carbon removal company Net Zero Company today announced the completion of a $5.5 million Seed round.
Founded in 2022, Net Zero Company is led by CEO Håkan Nordkvist, who previously spent more than ten years as head of innovation for sustainability at IKEA Group and is an advisor to Cambridge University accelerators The Canopy and The Core Climate Fund. Lord Ed Vaizey of Didcot is also a consultant to the Net Zero Company.
Net Zero Company’s introduction of its Carbon Removal Token (CRT) addresses the projected need for at least 3 billion tons of carbon removal by 2030. Leveraging blockchain technology, the CRT offers accessibility, transparency and traceability in the marketplace of verified carbon credits.
Key features of the Carbon Removal Token include:
- Safety: Certified carbon removal projects supported by a comprehensive replacement plan ensure the integrity and protection of carbon removals.
- Transparency: Developed on the Ethereum blockchain, CRT provides verifiable evidence of environmental impact, improving credibility and accountability.
- Traceability: Each CRT represents one ton of carbon dioxide sequestered by different nature-based projects, with full traceability through blockchain technology.
- Accessibility: Through CRT, anyone, anywhere can purchase affordable carbon removals and climate actions
Net Zero Company has partnered with Microsoft and Metaco/Ripple to fuel their mission to revolutionize carbon removal solutions.
Håkan Nordkvist, CEO of Net Zero Company, comments:
“There are no shortcuts to reaching net zero; reducing emissions is key, but we must also innovate with new solutions. That’s why we are committed to providing high-quality, nature-based, risk-free and easy to use.
Our mission is to democratize access to carbon removal by leveraging blockchain technology to digitize carbon removal credits.
With rising emissions and rising temperatures fueling environmental degradation, the need for effective carbon removal solutions has never been more urgent.”
Lead investors in the seed round include Oilinvest, VARO Energy and SilviCarbon.
The funding will support global expansion and the launch of a new suite of products, including the Carbon Removal Token, a real-world backed token.
Main image: CEO of Net Zero Company, Håkan Nordkvist.