Net Zero Company secures $5.5M 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 Sustainability Innovation at IKEA Group and is an advisor for the University of Cambridge accelerators The Canopy and The Core Climate Fund. Lord Ed Vaizey of Didcot is also an advisor to Net Zero Company.

Net Zero Company's introduction of its Carbon Removal Token (CRT) addresses the projected need for at least 3 billion tonnes of carbon removals by 2030. Leveraging blockchain technology, the CRT offers accessibility, transparency, and traceability in the market for verified carbon credits.

Key features of the Carbon Removal Token include:

• Security: Certified carbon removal projects backed by a comprehensive replacement plan ensure the integrity and protection of carbon removals.
• Transparency: Developed on the Ethereum blockchain, the CRT provides verifiable proof of environmental impact, enhancing credibility and accountability.
• Traceability: Each CRT represents a tonne of sequestered carbon dioxide from diverse nature-based projects, with full traceability through blockchain technology.
• Accessibility: Through the CRT, anyone, anywhere, can purchase carbon removals, climate action for accessible

Net Zero Company has partnered with Microsoft and Metaco/Ripple to fuel their mission to revolutionise carbon removal solutions.

Håkan Nordkvist, CEO of Net Zero Company, comments: 

"There are no shortcuts to reach net zero; reducing emissions is crucial, but we must also innovate with new solutions. That's why we're committed to providing high-quality, nature-based carbon removals that are risk-free and easy to use. 

Our mission is to democratise access to carbon removals by leveraging blockchain technology to digitise carbon removal credits.

With escalating 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 product suite, including the Carbon Removal Token, a real-world, asset-backed token.

Lead image: CEO of Net Zero Company, Håkan Nordkvist.