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Announcing our latest capital raise and the acquisition of Ecosphere+

Company news

Published: 13 Apr 2023

Last Updated: 20 May 2024

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We are thrilled to announce that we have successfully raised $13.5 million from Azora Capital, a leading investment management and private equity firm based in Spain. This funding round enabled us to complete the strategic acquisition of Ecosphere+, a leading provider of nature-based carbon credits.

Together, these achievements mark a significant milestone for Abatable and the broader industry and will allow us to reach and support more businesses globally in their journey to achieve ambitious net-zero strategies.

Our journey so far

Since our founding in 2021, our mission has been to help companies tackle their hard-to-abate emissions through science-aligned carbon procurement programs. Our tech platform has brought transparency, efficiency, and rigour to the voluntary carbon market and given companies access to over 2,000 project developers across various project types and geographies as well as an innovative and impactful way to procure carbon credits.

As we reflect on our accomplishments thus far, there are many things that make us proud. We have built relationships with many organisations involved in the voluntary carbon market, from carbon project developers to financiers and corporates. We have supported complex carbon procurement strategies and facilitated investments into innovative carbon projects. We have published industry-leading research and reports, including our annual State of the Carbon Developer Ecosystem report, and have collaborated with organisations such as IETA and NCSA, to bring more transparency and rigour to the carbon markets. We have also been nominated twice as a rising star and startup to watch in climate by and have begun our journey to become a certified B-Corp.

Welcoming the Ecosphere+ team and community

The acquisition of Ecosphere+ represents an exciting new chapter for Abatable. With an extensive track record in the carbon market, having transacted over 45 million carbon credits since its founding in 2016, Ecosphere+ is a remarkable addition to our team. This strategic acquisition allows us to expand our services to a broader portfolio of corporate clients and benefit from Ecosphere+’s experience and access to an exclusive supply of high-quality carbon credits.

We’ve had the pleasure of working side by side with Lisa Walker and the rest of the Ecosphere+ team for a while and had the chance to appreciate how aligned and complimentary our missions and areas of expertise are. By joining forces, we will combine Ecosphere+’s best-in-class carbon procurement programs and access to a large network of corporate buyers with our digital solutions to create the largest tech-enabled carbon procurement platform in the market.

This is a significant milestone for us, for the Ecosphere+ team, and for our growing community of carbon project developers and corporates, which will accelerate our ability to help organisations generate a positive impact on the climate, nature, and people.

What comes next

The voluntary carbon market is at a critical juncture. While there has been a boom in interest and involvement from many organisations across industries, it has been shaken by many valid concerns regarding its integrity. At the same time, the industry requires substantial scale in order to enable a net-zero future and our window of opportunity is closing fast.

We remain focused on harnessing the power of the voluntary carbon market to provide the right incentives for corporates to price their emissions liabilities and leverage their climate programs to back projects with verifiable environmental and social integrity. With the new funding and the acquisition of Ecosphere+ now in place, we are eager to embark on the next phase of Abatable’s growth and expand our role in the industry. Our combined expertise will allow us to better serve organisations across industries in addressing their hard-to-abate emissions and support high-quality, high-impact climate projects while collaborating with our community and the broader industry to continue developing the carbon market for scale and impact.

Access the press release here.

This is an exciting time for Abatable, and we want to thank our community, partners, and investors for their continued support. As we enter this new chapter in our journey, we remain dedicated to building a future where organisations can make a positive impact on the climate, nature, and people.

If you’re interested in partnering or working with us, drop us a line at [email protected]. We’re also going to be expanding our team, so check our job board for any openings and join us for the next exciting phase of growth at Abatable.