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Carbon Depository S.A. raises €19.4 million in equity

Published 12/09/2024, 02:07 AM

LUXEMBOURG - Carbon Depository S.A., a Luxembourg-based company specializing in carbon allowance depository services, has announced the completion of its equity financing and capitalization efforts. The company secured €1,368,000 from founder shareholders by selling reserved Founder Shares at €6.00 per share, with full warrants exercisable at the same price until December 31, 2030. This move comes as part of the company's ongoing development funded by founder shareholders since 2021.

Additionally, Carbon Depository is nearing the closure of its Round 2 Financing, aiming to raise €18,000,000 by offering shares at €12.00 each, with full warrants also exercisable until the end of 2030. This round is expected to close on February 1, 2025. Looking ahead, the company has laid out plans for a third round of financing in June 2025, targeting €45,000,000 at €24.00 per share, again with full warrants exercisable until December 31, 2030.

The company has stated that all financing rounds are directed towards non-retail investors. After the completion of all funding rounds, the total common shares outstanding will be 14,208,333 with full warrant. All share issuances or cancellations are subject to shareholder voting, with founder shareholders and insiders abstaining from the vote to favor minority shareholders.

The proceeds from these rounds of financing are earmarked for working capital and the development of Carbon Depository's software. During this development period, which includes the pre-launch phase and until a future public listing, director fees have been capped at €2,000 per month without any option awards.

Carbon Depository operates as a Carbon Allowance Depository, handling verified permits for carbon emissions allocated or auctioned by governments. It does not operate as a trading exchange but facilitates carbon allowance markets by enabling buying, selling, and investing activities with enhanced transparency in corporate climate commitments. The company's revenue model is based on arbitrage from buy-and-sell transactions, and it charges no fees for its services.

The company has been developing its DeFi software, AI onboarding, AI derivatives, and Carbon Allowance Depository software since 2020, which is currently in the beta testing phase. Carbon Depository collaborates with leading renewable energy companies and regulated carbon credit buyers. It is also planning to seek a listing on a regulated stock exchange through a Non-Offering Prospectus, with the operational launch anticipated by mid-2025.

This news is based on a press release statement and reflects the company's current capitalization and development status.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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