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Today, we’re excited to announce that the European Innovation Council has selected Paebbl for an equity investment under its highly competitive STEP Scale Up programme. Paebbl is one of six European deep-tech companies in this round, across which the EIC Fund has committed a €97 million investment. We are honoured to be the first construction materials technology company to be selected for the STEP Scale Up programme, signalling that Europe is proactively investing in creating a more resilient supply chain of building materials.
The EIC STEP Scale Up scheme provides investments of €10 million to €30 million per company, designed to draw private co-investment and support financing rounds of €50 million to €150 million or more. It addresses a critical gap in the capital needed to scale Europe’s breakthrough industrial innovations. Backed by a rigorous due diligence process, the scheme gives private investors greater confidence to accelerate industrial scale-up and lays the foundation for strong public-private partnerships.
Paebbl is by design an industrial resilience company making the built environment more future-proof by converting CO₂ into carbon-storing building materials. Cement production accounts for around 8% of global emissions. Rebond 300, our latest supplementary cementitious material, replaces up to 30% of the cement in a concrete mix and cuts the embodied carbon of a project by around 40%, depending on the application. Its verified net carbon footprint is –149 kg CO₂e per tonne of material, meaning that scaling our technology will further reduce the carbon imbalance in our built environment.
Why now is the right time to scale building materials as a strategic technology
Over the last 18 months, we’ve launched our demonstration plant, unveiled a dozen customer projects, and reached technology and regulatory milestones that triggered the design of our first commercial-scale production facility. With exceptional customer demand, we are continuing to progress our scale-up plans with an aligned value chain of material, construction, and global real-estate leaders.
This is the phase where industrial technology has historically lacked ecosystem support. A first commercial plant is too large for early stage venture capital, slightly too early for project finance, and out of scope for institutional infrastructure funds. That gap is an artefact of how private capital is organised, and it is the most consistent reason promising industrial companies grow in other markets. We have designed our company to be global from day one with investors, partners, and customers based in Europe, the United States, and Asia.
The EIC is expected to join a syndicate of institutional and strategic investors as part of a larger financing round designed to accelerate our scale-up to meet growing demand. The investment will be completed following the EIC Fund's standard process over the coming months.
There is more exciting news to come.
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