CUR8 launches a first-of-a-kind financing pilot for carbon removals

CUR8 is excited to announce the launch of a first-of-a-kind financing pilot for carbon removals in partnership with British Airways, Standard Chartered and UNDO, as part of the leading UK airline’s commitment to achieving net zero by 2050 ✈️

Carbon removals must be rapidly developed to limit global warming to 1.5 degrees by 2050, as per the IPCC. The latest McKinsey report acknowledges a multitrillion funding gap to achieve net zero by that date.

The industry is in its early stages and needs to scale exponentially. However, accessing funding can pose a significant challenge, even for the most promising carbon removal suppliers. While grants and venture capital are generally available in the early stages, traditional banking products required for scaling, such as commercial debt, are far more challenging to secure.

This partnership aims to create a blueprint to support ambitious suppliers of carbon removal to sustainably scale their operations with more available capital in the form of debt financing, secured on future client demand via advanced purchase agreements. While allowing buyers to access carbon removal credits through mulit-year purchases.

In this pilot, British Airways is committing to purchase more than 4,000 tonnes of carbon removal credits delivered by UNDO through enhanced rock weathering, and Standard Chartered as the banking partner.

Marta Krupinska, CEO & Co-Founder at CUR8 “It is clear that rapid technological and scientific innovations require appropriate, novel and abundant financing. We are delighted to launch this pilot to show that debt financing and venture capital are needed to unlock scalability for carbon removals. We aim to build a bridge to bankability for the most promising carbon removal suppliers who face a $5-50M scale-up financing gap.”