Amazon’s Impact Fund Invests in Nordic-Dutch Startup Paebbl
- Paebbl works to store carbon dioxide in building materials
- Capnamic is among other investors in $25 million funding round
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Amazon.com Inc. joined a group of investors enabling Nordic-Dutch startup Paebbl to raise $25 million via a Series A funding round, according to a statement.
Paebbl says it will use the money to expand existing offices in Helsinki and Stockholm, as well as in Rotterdam where its current pilot facility is located. The company, which plans to establish a demonstration plant next year, is aiming to scale up an industrial process whereby carbon dioxide is stored in building materials such as concrete.