The funding round was led by Planet A Ventures with participation from Clean Growth Fund, UCL Technology Fund, and Cambridge Enterprise.
"At a time of escalating fuel prices and increasing emphasis on CO2 reduction targets, there is an urgent need for action. Carbon Re is connecting the biggest challenge of our time – climate change – with the biggest opportunity – advances in AI. Our cement plant trials have demonstrated that Delta Zero can deliver dramatic CO2 savings on a near-live basis."
The Co-operative Bank provided the funding in exchange for a two percent equity stake, marking the opening of a £3m seed round.
"As the UK high street bank with the best ESG score from independent analysis, The Co-operative Bank is a perfect investor for Zellar. We hold so many shared values. We both believe passionately in cutting though the greenwash and driving meaningful environmental change, and helping local businesses and their wider communities to take action. The overwhelming interest shown by The Co-operative Bank’s customers following our launch programme in June this year, is a real confirmation of the synergies between our two companies. This investment will help us to deliver an even better, more meaningful experience to our shared customers and beyond."
The seed round was supported by Angel Investment Network to fund platform expansion and user growth.
"We are delighted that investors have supported our vision of a global ecosystem of connectivity for clean energy project developers, advisors, investors and lenders. We are now the fastest growing platform for renewable energy projects, helping to bring together international market participants to successfully progress over 3GW of new utility-scale clean energy generation capacity in this past year alone. This reduces transaction friction and means that the market for renewable energy projects can flow faster and more efficiently than ever before."