As well as traditional carbon offset distributors and exchanges such as Climate partner or Climate Impact X the tech space has also produced several including Patch (US-based, raised $26.5 million) and Moon (UK-based, raised $4 million).
Now Ceezer, a B2B marketplace for carbon credits, has closed a €4.2 million round led by Carbon Removal Partners with the participation of Impact-VC Norrsken VC and with an existing investor Picus Capital.
Ceezer’s idea is that companies have to deal with a lot of complexities when considering how to deal with carbon removal and reduction related to their business. While they can buy offsetting credits, the market remains quite a “wild west” with multiple competing standards operating in parallel. For example, a price range of $5 to $500 per ton is evident everywhere, and sometimes carbon offset distributors make buyers pay high prices for low-quality carbon credits, extracting additional revenue from a very opaque market.
The startup’s proposal is for corporations to integrate both carbon removal and avoidance credits into one package. This is achieved by mining the offset market for many data points, allowing sellers of offset carbon emissions to reach buyers without having to use these intermediary distributors.
The startup claims that sellers no longer waste time and money on custom contracts with corporations, but instead use Ceezer’s legal framework for all transactions. At the same time, buyers can access credits at the primary market level, maximizing the impact of the dollars they spend on carbon offsets.
Ceezer says it already has over 50 corporate customers and has 200,000 tonnes of carbon credits for sale across various categories. and will use the funds to expand its influence and sourcing team, with the idea of making carbon removal technologies more accessible to corporate buyers, as well as expanding product offerings for credit sellers and buyers.