Energy company Shell's CVC unit is backing a $15 million financing of Norway-based fuel emissions calculations platform Chooose aimed at product enhancements, operational growth into new geographies and entering more verticals with its technology.
Shell Ventures is joined by GenZero, a decarbonisation investment firm owned by Singaporean investment giant Temasek which co-led the round with sustainability-themed LP vehicle SoundWaves, led by the Sound Ventures team.
Boston's Vinyl Capital, the travel IT services provider Amadeus and Contrarian VC also participated in the round, while Vinyl, Shell Ventures, and Contrarian have all backed Chooose previously, according to deals database Crunchbase.
With air travel a major CO2 emissions pain point, Chooose is gaining traction with its platform that automates emissions calculations and provides access to third-party software marketplaces capable of limiting global aviation's carbon footprint.
Several blue chip airlines are among Chooose's existing customers, for instance British Airways, Air Canada, Iberia and Japan Airlines, as well as Southwest Airlines in the US.
Specifically, the aviation industry benefits from firm data on the availability of sustainable aviation fuels, potential CO2 emissions savings and verified offset credits to cover flight activity.
In a press statement, Chooose CEO and co-founder Andreas Slettvoll said: "The need for climate action has never been greater.
"And now everywhere we look, we see individuals and organisations wanting to factor climate impact into their decision-making, and to support solutions.
"But getting started can seem daunting – we know software can make this easier by embedding awareness and access to climate solutions in the right places. This is why we’re building Chooose."
Frederick Teo, GenZero CEO, added: "Many consumers and businesses are rightly concerned about their carbon footprint. This is especially true in the context of higher emission activities like air travel, but we see this rapidly becoming relevant in all sectors.
"To unlock these reductions, they need accessible, accurate emission information to decision on, and trusted ways of addressing the emissions that do happen.
"CHOOOSE’s deep familiarity with sectors such as aviation and travel allows them to seamlessly embed robust and accurate emissions calculations and carbon mitigation solutions, including high-quality carbon offsets and SAF, within its user-friendly interface.
"This provides added assurance that consumers and businesses are effectively mitigating their climate impact, thus encouraging greater adoption.”