Carbon markets company ClearBlue raises C$8m in Series A round

• ClearBlue Markets’ existing clients include CRH, Mercuria, JD Irving, Bain Capital Partnership Strategies, Mitsubishi, Energir and VARO Energy
• The deal’s proceeds will support the growth of ClearBlue’s technology platform and help deepen its experience in financial markets
• ClearBlue also announced the appoint of Bill Morris, the former CEO of Accenture Canada, to its board of directors

Toronto-based ClearBlue Markets, a technology-enabled carbon markets company, has secured C$8 million as part of its Series A financing.

Royal Bank of Canada (RBC) led the round, with participation from existing investor CRCM Ventures.

ClearBlue provides carbon markets services to help clients optimize their strategies for compliance requirements and voluntary net-zero ambitions. The company offers a range of services, including market analysis, capacity building, carbon strategy, and transaction facilitation. It has a 200-plus client portfolio that includes CRH, Mercuria, JD Irving, Bain Capital Partnership Strategies, Mitsubishi, Energir and VARO Energy.

The deal’s proceeds will support the growth of ClearBlue’s technology platform and help deepen its experience in financial markets.

“RBC recognizes that climate change is a global challenge, and companies like ClearBlue Markets can play an important role in addressing it effectively,” said Barrie Laver, RBC managing director, head of venture capital and private equity, in a statement. “Adding ClearBlue Markets and its technology platform to our portfolio is aligned with RBC’s climate strategy and will in turn provide our clients with additional access to advisory services and technology needed to support their transition to a more sustainable future.”

ClearBlue also announced the appoint of Bill Morris, the former CEO of Accenture Canada, to its board of directors.

RBC is Canada’s largest bank by market capitalization.