Cham-based startup ARTEM has raised €1.5 million in seed funding to develop its complete software program and {hardware} platform to assist EU corporations and non-EU producers guarantee CBAM compliance and allow the transition to net-zero manufacturing.
The funding spherical was led by Vireo Ventures, a Berlin-based Article 9 SFDR enterprise capital agency, with a concentrate on driving the vitality transition and decarbonisation.
Nanxi Ding, Founder & CEO of ARTEM, stated, “There was vital growth and development in nationwide and supranational carbon compliance and pricing mechanisms equivalent to CBAM. At present, USD 45 billion value of products are impacted by CBAM, with this determine anticipated to rise to USD 90 billion by 2030. The problem for corporations lies to find a compliance resolution that addresses the particular wants of every trade and helps them overcome cultural, jurisdictional, and informational limitations within the strategy of reporting. As carbon pricing and emissions buying and selling increase globally, authorities and markets will demand extra dependable emission knowledge.”
Based in 2024 by Nanxi Ding, Leo Rees-Murphy, and Ofir Weinstock, ARTEM gives a mix of software program and {hardware} instruments to assist EU importers and non-EU producers gather, confirm, and report greenhouse fuel (GHG) emissions knowledge. Nanxi Ding was impressed to discovered ARTEM after navigating the complexities of CBAM whereas managing her household’s automotive manufacturing enterprise.
Recognising the challenges and alternatives of compliance, she and her co-founders constructed ARTEM to assist corporations adapt to a regulatory panorama more and more prioritising decarbonisation and clear emissions reporting.
The corporate’s expertise streamlines compliance for sectors like cement, metal, aluminium, fertilisers, electrical energy, and hydrogen, that are amongst these most impacted by CBAM laws set to completely take impact in 2026.
ARTEM’s platform consists of Continued Emission Measuring Techniques to offer correct real-time emissions knowledge assortment, together with software program to foretell the monetary affect of carbon pricing on items. The system facilitates compliance reporting for importers, improves provide chain transparency, and promotes GHG reductions on the manufacturing degree.
“ARTEM assists corporations gather, confirm and report actual emission knowledge from suppliers worldwide utilizing compliance software program with an built-in {hardware} measurement system, enabling end-to-end GHG tracing throughout cross-border provide chains. The synergies between completely different nationwide carbon markets are anticipated to create unprecedented and cataclysmic development within the decarbonization market. We’re privileged to have the help of Vireo Ventures, an Article 9 SFDR Fund with a wealth of commercial experience and a robust dedication to the vitality transition,” added Ding.
The EU’s CBAM, the world’s first border adjustment mechanism for carbon pricing, mandates importers of high-emission items to trace emissions and buy CBAM certificates. ARTEM’s proposed resolution addresses the complexities of compliance whereas decreasing dangers of expensive penalties for non-compliance.
The platform is poised to serve a rising market, with international emissions monitoring valued at USD 16.98 billion in 2024 and projected to achieve USD 61.43 billion by 2029, in line with ARTEM.
“CBAM compliance is significant for attaining a climate-resilient, decarbonized future. ARTEM stands out as one of many first automated platforms focusing completely on CBAM compliance infrastructure. The crew’s progress, deep trade insights, in addition to producer and freight forwarder community put them in a robust place to ascertain a number one market participant early on,” stated Matthias Engel, Managing Companion at Vireo Ventures.