Max ter Horst, Managing Partner of Rockstar Energy, says, “Klimate operates within the rapidly expanding sector of carbon removal initiatives, a critical component in achieving climate objectives aimed at limiting global temperature increases to less than 2℃.”
“The startup offers a unique proposition to make such projects bankable and therefore scalable while supporting offtakers in optimising their carbon removal portfolios.”
“We are excited to join forces with prominent investors like Eneco Ventures and Helen Ventures in this funding round, who bring in the market knowledge necessary to make Klimate a success,” adds Horst.
Since 2014, Rockstart has been accelerating and investing in energy startups, which makes Rockstart a forerunner in the energy domain with 75 early-stage startup investments. Collectively, these portfolio companies have raised over €150M to date.
Rockstart Energy invests in and accelerates startups at the pre-seed stage and continues to support them alongside other investors until series B. On average, Rockstart invests in approximately 12 energy startups per year.
Investors in this round
Johan Bitsch Nielsen, Investment Manager at Export EIFO, adds, “EIFO is dedicated to achieving the net zero-goals. If we are to fulfil the ambitions of the Paris Agreement, we need to establish real and large-scale carbon removal.”
“But the market is still immature. Supply is limited, and it is challenging to decide which technologies and projects are greenwashing or delivering on their promise. We see Klimate.co playing a part in solving these two issues.”
“With their innovative Carbon Purchase Agreement-concept they have the potential to increase the number of projects being financed and as one of the most knowledgeable carbon removal teams out there, they are on a mission to ensure transparency around the quality of the projects,” adds Nielsen.
EIFO is Denmark’s national promotional bank and export credit agency. It provides risk-tolerant government capital to Danish companies and their global partners, focusing on supporting businesses contributing to global environmental sustainability.
Removing as much CO2 from the atmosphere as possible
Founded in 2020 by Katja Grothe-Eberhardt and Simon Bager, Klimate.co is focused on addressing climate change through innovative carbon management solutions.
Its CO2 asset management platform empowers businesses to transform carbon liabilities into valuable assets by securing high-quality carbon removal solutions.
The company strategically allocates funding to carbon removal projects, emphasising environmental responsibility and supporting social and economic development.
Klimate.co is based in Copenhagen, Denmark, and currently has 11 employees. It has clients across northern Europe and the US.
Klimate.co says it plans to use the funding to expand its team, grow internationally, and further develop its software platform in the energy sector.
Katja Grothe-Eberhardt, founder and CEO of Klimate.co, says, “This investment is a testament to our commitment to combating climate change and advancing carbon removal technologies.”
“We are grateful for the support of our investors, and this funding will be instrumental in further accelerating our commercial efforts, enhancing our platform’s capabilities and ultimately drive our mission to scale up carbon removal capacity,” adds Grothe-Eberhardt.