Rubicon Carbon

Rubicon Carnon is a climate tech company driving a platform of market-based products and solutions for reducing CO2 emissions. The company provides risk-adjusted portfolios of carbon credits through its proprietary monitoring and analytics technology. In addition, Rubicon provides a suite of value-added services such as science-based quality guardrails, project-level engagement, and hyperspectral monitoring to enhance the reliability of the voluntary carbon market.

Rubicon’s flagship product is the Rubicon Carbon Tonne (RCT), an end-to-end solution that provides businesses access to nature-based and non-nature-based carbon credits. RCTs are equipped with tech-enabled selection, pooling, and delivery of credits to reduce frictional costs in the carbon market. Rubicon also has a financing solution named Rubicon Carbon Capital to accelerate new carbon projects by directly partnering with carbon credit project developers.

Key customers and partnerships

Rubicon’s supply partner, Anew Climate, manages the sourcing and procurement for Rubicon’s carbon credit inventory. In addition, the company engaged with platform partners such as Pixxel, Planet Labs PBC, and Rialto Markets. Rubicon also formed a coalition of corporate sustainability leaders including Aon, Bain & Company, Bank of America, Cushman & Wakefield, Dow Inc., General Electric Company, Genesys, Hertz, Honeywell, J.P. Morgan, JetBlue, Kirkland & Ellis LLP, McKinsey & Company, Momentive, SMBC, and TD Bank to support its product development.

In August 2023, Rubicon Carbon partnered with Freepoint Commodities and Imperative Global to finance and develop USD 500 million of Imperative’s carbon projects aiming to produce 100 million tons of carbon credits. In October 2023, the company partnered with CHOOOSE to combine CHOOOSE’s SaaS platform with Rubicon Carbon’s portfolio of carbon solutions.

Funding and financials

In November 2022, Rubicon Carbon was launched with an initial capital of USD 300 million from TPG Rise Climate, a US-based alternative asset manager. During this round, the company also expected to raise up to USD 1 billion from the Bank of America, JetBlue Ventures, and NGP Energy Capital Management.