Puro.earth Secures €11 M Series B Financing Led by Nasdaq with Participation from Fortum Innovation & Venturing to strengthen its supplier infrastructure

Rhea-AI Summary

Puro.earth, a carbon-crediting platform for engineered carbon dioxide removal (CDR), has secured €11 million in Series B funding led by Nasdaq (NASDAQ:NDAQ) with participation from Fortum Innovation & Venturing. The funding will strengthen Puro.earth's supplier infrastructure, enabling more frequent issuance of high-integrity carbon removal credits and facilitating offtake agreements.

The investment follows Puro.earth's recent growth, including improvements to its biochar methodology, launch of a trading API, and new strategic partnerships. The company has issued over 1 million CO2 Removal Certificates (CORCs), maintaining its position as the leading standard and registry for engineered CDR. Nasdaq, which became the majority owner in 2021, aims to enhance carbon market infrastructure through this strategic investment.

Positive

• Secured €11 million Series B funding to strengthen infrastructure
• Market leadership with over 1 million CO2 Removal Certificates issued
• Strategic backing from Nasdaq as majority owner enhances market credibility
• Recent growth includes new API launch and strategic partnerships

Negative

• None.

Insights

Carbon Markets Analyst

Nasdaq's €11M investment in Puro.earth strengthens its position in the growing carbon removal market, diversifying revenue streams.

Nasdaq's strategic €11 million investment in Puro.earth represents a calculated move to strengthen its position in the rapidly evolving carbon credits ecosystem. This Series B funding builds upon Nasdaq's 2021 acquisition of majority ownership in Puro.earth, demonstrating continued commitment to the carbon removal space. The investment targets critical infrastructure improvements that will increase the frequency of credit issuance, facilitate offtake agreements, and advance digital measurement tools - all essential components for scaling market operations.

The timing is particularly strategic as Puro.earth has reached a milestone of issuing over 1 million CO2 Removal Certificates (CORCs), establishing itself as the leading standard for engineered carbon dioxide removal. For Nasdaq, this investment aligns with its broader strategy of diversifying revenue streams beyond traditional exchange services while leveraging its core expertise in creating market infrastructure.

While the €11 million sum is relatively modest compared to Nasdaq's overall financial position, it represents an important strategic allocation toward an emerging market with significant growth potential. This controlled investment approach allows Nasdaq to expand its environmental markets footprint while maintaining financial discipline. By combining Puro.earth's climate expertise with Nasdaq's financial infrastructure capabilities, the company is positioning itself at the intersection of two powerful market forces: the financial system and climate action initiatives.

Strategic financing supports Puro.earth initiatives to accelerate carbon removal at scale

HELSINKI, Sept. 04, 2025 (GLOBE NEWSWIRE) -- Puro.earth, a leading carbon-crediting platform for engineered carbon dioxide removal (CDR), today announced it has raised €11 million in a Series B funding round led by Nasdaq with participation from Fortum Innovation & Venturing. Puro.earth will deploy this funding to strengthen the infrastructure that supports its best-in-class certification journey for suppliers. Key initiatives include enabling more frequent issuance of high-integrity carbon removal credits, facilitating offtake agreements, and advancing open integration of digital measurement, reporting, and verification (dMRV) tools.

The new investment builds on a period of strong growth and innovation at Puro.earth, highlighted by enhancements to its market-leading biochar methodology, the launch of an API enabling streamlined carbon removal trading through sales channels, strategic partnerships with leading organizations to facilitate CDR project financing, and the appointment of new leadership to accelerate carbon removal at scale. It reinforces Puro.earth’s strategic mission to scale high-integrity carbon removal markets globally, solidifying its role as a leading standard and registry for scientifically rigorous and independently verified CO₂ Removal Certificates (CORCs). By enhancing Puro.earth’s customer offerings to meet rising demand for durable carbon removals, Nasdaq and Puro.earth are well positioned—through their combined financial market and climate expertise—to drive innovation and to scale the carbon market.

“Carbon removal is evolving from innovation to infrastructure,” said Jan-Willem Bode, President of Puro.earth. “With this latest round of funding, we’re strengthening the systems that facilitate scale in CDR deployment and enhancing our customer offerings to better support the growing demand for durable engineered removals. Our approach is grounded in science, market discipline, and transparency. This is what our ecosystem of buyers and suppliers demands—Nasdaq and Puro.earth are well-placed to meet this need by combining financial infrastructure and climate expertise to foster innovation and accelerate the carbon market growth.”

“With this investment, we aim to accelerate our shared vision of enabling high-integrity carbon markets,” said Fredrik Ekström, Head of Carbon Markets at Nasdaq and Chairman of the Board at Puro.earth. “Together with Nasdaq's efforts to advance the technological infrastructure of carbon markets, Puro.earth is delivering the transparency and operational capacity essential to making carbon dioxide removal (CDR) a credible and investable solution in both carbon and financial markets.”

Puro.earth developed the first standard dedicated to engineered carbon removal in 2019 as part of Fortum’s Innovation & Venturing unit. In 2021, Nasdaq became the majority owner of the company. To date, Puro.earth has issued more than 1 million CO₂ Removal Certificates (CORCs) - more than any other engineered CDR standard and registry to-date.

About Puro.earth

Puro.earth is the world's leading carbon-crediting platform for durable carbon dioxide removal (CDR). Via the Puro Standard’s rigorous carbon credit methodologies, suppliers that remove carbon dioxide from the atmosphere to durable storages for at least 100 years are certified and issued CO2 Removal Certificates (CORCs) into the transparent Puro Registry. CORCs are then purchased by ambitious corporations like Microsoft, Shopify, and Zurich Insurance, to help address climate change and neutralize residual carbon emissions. In 2021, Nasdaq acquired a majority stake in Puro.earth and together are driving forward the carbon removal industry — enabling new revenue streams and accelerating climate action.

About Nasdaq

Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.

About Fortum
Fortum is a Nordic energy company. We generate and deliver reliable energy to our customers and the Nordic energy system while at the same time helping industries decarbonise their processes and grow. Our core operations comprise efficient and best-in-class low-carbon power generation, customer services, and heating and cooling. Fortum’s power generation is already 99% from renewable or nuclear sources, with one of the lowest specific CO2-emissions in Europe. We are guided by our ambitious SBTi-validated emission reduction targets on our way towards net-zero by 2040. For our ~4,500 employees, we commit to be a safe and inspiring workplace. Fortum's share is listed on Nasdaq Helsinki. fortum.com

Fortum Innovation & Venturing
Fortum Innovation & Venturing is focused on identifying and supporting breakthrough entrepreneurs, startups, and technologies that aim for a carbon-neutral future. Our investment portfolio includes companies that focus on solutions for flexibility, storage, optimisation, and emerging technologies that contribute to low-carbon energy and the decarbonisation of customers, industries, and societies.

Media inquiries

Puro.earth
Cognito Media: puroearth@cognitomedia.com

Nasdaq
Maarit Bystedt, +358 9 6166 7274, maarit.bystedt@nasdaq.com

Fortum
Fortum Media Desk, +358 198 2843

-NDAQG-

FAQ

What is the size of Puro.earth's Series B funding round led by Nasdaq (NDAQ)?

Puro.earth secured €11 million in Series B funding led by Nasdaq with participation from Fortum Innovation & Venturing.

How many CO2 Removal Certificates (CORCs) has Puro.earth issued to date?

Puro.earth has issued more than 1 million CO2 Removal Certificates (CORCs), more than any other engineered CDR standard and registry.

When did Nasdaq acquire majority ownership of Puro.earth?

Nasdaq became the majority owner of Puro.earth in 2021.

What will Puro.earth use the Series B funding for?

The funding will be used to strengthen supplier infrastructure, enable more frequent issuance of carbon removal credits, facilitate offtake agreements, and advance digital measurement, reporting, and verification tools.

What recent developments has Puro.earth achieved before this funding?

Recent developments include enhancements to biochar methodology, launch of a trading API for streamlined carbon removal trading, and strategic partnerships for CDR project financing.