Spintop Ventures announces a new investment in ReCarber, a Swedish impact startup with an international team and a new business model to accelerate bio-CCS. Together with two other Swedish venture capital firms, Luminar Ventures and Course Corrected, Spintop are backing Recarber in their first investment round where they raised SEK 60 million.
The funds will be used to advance ReCarber’s platform, grow the team, and enable more Nordic bio-CCS projects to reach final investment decisions.
“The investment is a crucial milestone that enables us to accelerate the roll-out of bio-CCS. Each of our projects removes carbon dioxide equivalent to the emissions from 100,000–300,000 cars per year. The projects form significant, tangible, and necessary contributions to mitigating climate change,” says Kristoffer Labuc, CEO and founder of ReCarber.
Inspired by fintech
Recarber’s founder Kristoffer Labuc, is the former CEO of Loomis Pay and VP at Klarna, who saw parallels between how fintech companies have simplified value chains and the similar need to build platforms able to accelerate carbon capture and storage projects from biogenic sources (bio-CCS), crucial for the transition to net zero.
ReCarber was founded based on the idea that there is a need to replicate what has been done in fintech. We are now building a platform that allows us to take bio-CCS projects to market faster, mitigate risks, and reduce the costs of these projects. The broad expertise and unique experience of the team enables us to connect all parts of the value chain. This, combined with a scalable platform and business model, allows us to build a portfolio of projects that will drive the industry forward. We have already started working on several exciting projects, ” says Kristoffer Labuc.
The Swedish Energy Agency estimates that bio-CCS could reduce the emissions in Sweden by at least 10 million tons of carbon dioxide annually, equivalent to approximately a quarter of the country’s total emissions. This would position Sweden and the Nordics as global leaders in bio-CCS.
“Just like ReCarber, our analysis indicated a lack of efficient solutions to commercialize bio-CCS. ReCarber have impressed us by presenting an innovative solution that connects the dots in the value chain,” says Helen Agering, Partner at Spintop Ventures.
Leading expertise on the board
ReCarber has attracted leading expertise to its board, including Syrie Crouch, who is also a board member at Climeworks, the pioneering company in direct air capture with operations in Iceland and other locations. Syrie has played key roles in developing some of the world’s first CCS projects, such as Northern Lights in Norway. Another notable addition to the board is Elise Roc, who brings extensive experience in large-scale infrastructure and CCS project development at Total Energies.
Together with Spintop Ventures, two other Swedish venture capital firms are investing in Recarber: Luminar Ventures and Course Corrected.
”ReCarber is one of the most promising climate tech players in the Nordics. The platform they are building, together with their strong strong team and business model, positions them well to take a leading position in this growing segment and have a significant positive climate impact,” says Jacob Key, General Partner at Luminar Ventures and lead investor in the round.
”ReCarber’s vision and expertise makes them well-equipped to scale up one of the most important climate solutions. As an Article 9 fund, we see their great potential to help accelerate the green transition, and are proud to support their journey toward a sustainable future,” says Kerstin Cooley, Partner at Course Corrected.
The operational team consists of five senior founders based in Stockholm and Paris, combining expertise in CCS, project financing, fintech, marketing, and legal.
About ReCarber
ReCarber is driving the expansion of bio-CCS (biogenic carbon capture and storage) in the Nordics to help meet global climate goals. With a unique business model, deep expertise, and a specialized software platform, the company simplifies the value chain, enabling faster project deployment and lower costs. ReCarber collaborates with combined heat and power plants and companies aiming to take a leading position in sustainability by balancing their carbon footprint with negative emissions. Founded in 2024, ReCarber is headquartered in Stockholm. Interested to know more, visit https://recarber.com/.