Nasdaq-Backed Puro.earth Raises $12.8 Million to Scale Carbon Removal Certification

Carbon removal crediting platform Puro.earth has raised €11 million ($12.8 million) in a Series B round led by Nasdaq to strengthen its certification infrastructure for engineered carbon dioxide removal technologies. The platform has issued more than 1 million CO2 Removal Certificates to date, more than any other engineered CDR standard and registry.

Founded in 2018, Puro.earth operates a registry-based platform certifying suppliers of carbon net-negative technologies and issuing CO2 Removal Certificates for durable carbon storage of at least 100 years. Nasdaq acquired a majority stake in Puro.earth in 2021 from Finnish clean energy company Fortum, which retained a minority stake. The latest Series B round was led by Nasdaq with participation from Fortum's Innovation and Venturing unit, reinforcing the commitment of both anchor investors to scale the platform.

The new capital will be directed toward enabling more frequent issuance of CORCs, facilitating offtake agreements, and advancing open integration of digital monitoring, reporting, and verification tools. The milestone of 1 million CO2 Removal Certificates issued to date positions Puro.earth as the leading registry for engineered CDR, a category that includes biochar, bio-energy with carbon capture and storage, mineralisation, and other durable removal pathways increasingly sought by corporate buyers with residual emissions they cannot abate.

Nasdaq's active investment in carbon market infrastructure reflects growing institutional interest in building the plumbing for high-integrity carbon trading. For global carbon markets to function at scale, independent certification platforms with robust MRV and transparent registries are essential. India's developing Carbon Credit Trading Scheme, launched under the Energy Conservation (Amendment) Act 2022, could benefit from engagement with international certification platforms such as Puro.earth as it builds domestic CDR crediting methodologies.

Key figure — More than 1 million CO2 Removal Certificates issued by Puro.earth to date