Neutreeno poised to clean up in $130 Trillion decarbonisation market
Regeneration.VC led the round alongside Remarkable Ventures Climate Fund (RVC), Closed Loop Partners, Prequel Ventures, Scania Invest and Beacon Venture Capital.
On average, companies have over 90 per cent of emissions in their value chain and 93 per cent will fail to achieve their net zero goals unless they double the pace of emissions reduction by 2030, the company warns. This target is even more daunting given a lack of primary value chain data, the inability to influence suppliers and the high cost of decarbonisation.
Neutreeno says its proprietary process networks, based on mass and energy flow research, significantly minimise the primary data burden on suppliers and allows enterprises to map product lines faster and with greater precision than existing tools.
Its easy-to-use and affordable digital system automatically pinpoints solutions that reduce emissions and costs across thousands of suppliers, says the company.
Neutreeno’s customers already span Asia, Europe and North America, including S&P 500 and FTSE 250 companies across multiple industries and a broad range of SMEs.
Fredrik Nilzén, Head of Sustainability at Scania Group, one of the world’s largest commercial vehicle manufacturers, said: “Neutreeno offers a unique and innovative solution that is crucial for tackling sustainability challenges with improved efficiency and cost-effectiveness at scale.
“Scania Invest’s support emphasises the strategic importance of advancing Neutreeno’s pioneering technology in the sustainability landscape.”
Dr Spencer Brennan, Neutreeno’s founder, assembled a team of scientists who over two decades pioneered concepts of circularity and resource efficiency in complex supply chains, informing international climate policy. He said: “We take a completely novel, robust engineering approach to challenge the Scope 3 status quo.”
Professor Jonathan Cullen, the company’s Head of Climate Science and Lead Author for the IPCC AR6 Industry Chapter, added: “Neutreeno breaks away from the noisy landscape of tedious, form-filling accounting-based carbon software.”
Neutreeno delivered groundbreaking results for a multi-billion-dollar enterprise customer, identifying a 35 per cent emissions reduction potential across Scope 1–3 for one of its suppliers and automatically pinpointing actions leading to new product designs, procurement changes, and substantial emissions reductions – all in just four weeks.
Enthused by the company’s mission to democratise emissions reductions for millions of businesses, Michael Smith, General Partner of Regeneration, commented: “Neutreeno has the first technical system able to move beyond Scope 3 reporting to systematically decarbonise industry, unlocking the $130 trillion of capital waiting to fund the low-carbon transition.”
With its innovative approach and strong industry backing, Neutreeno believes it is poised to make a significant impact on global decarbonisation efforts, helping companies achieve their climate goals faster than ever before.