Cham-based startup ARTEM has raised €1.5 million in seed funding to develop its complete software program and {hardware} platform to assist EU firms 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 give attention to driving the power transition and decarbonisation.
Nanxi Ding, Founder & CEO of ARTEM, stated, “There was vital growth and progress in nationwide and supranational carbon compliance and pricing mechanisms resembling 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 firms lies to find a compliance resolution that addresses the precise wants of every trade and helps them overcome cultural, jurisdictional, and informational limitations within the means 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 provides a mixture of software program and {hardware} instruments to assist EU importers and non-EU producers gather, confirm, and report greenhouse gasoline (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 firms 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 rules set to totally take impact in 2026.
ARTEM’s platform contains Continued Emission Measuring Techniques to supply correct real-time emissions knowledge assortment, together with software program to foretell the monetary influence 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 firms 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 progress 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 power 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 lowering dangers of expensive penalties for non-compliance.
The platform is poised to serve a rising market, with world emissions monitoring valued at USD 16.98 billion in 2024 and projected to succeed in USD 61.43 billion by 2029, based on ARTEM.
“CBAM compliance is important for attaining a climate-resilient, decarbonized future. ARTEM stands out as one of many first automated platforms focusing completely on CBAM compliance infrastructure. The workforce’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 Associate at Vireo Ventures.