London 2 March 2026 – Today, CUR8, the leading provider of market intelligence and due diligence for carbon removals, announced that it has received a strategic investment from Acario Innovation (“Acario”), the corporate venture arm of Tokyo Gas, the largest city gas supplier in Japan and a diversified electric utility.

Today’s investment enables the expansion of CUR8’s risk and data infrastructure and strengthens its ability to support commercial-scale debt financing for carbon removal projects globally. It reflects the need for robust risk and scientific modelling to support the scale-up from carbon removal pilots to portfolios – all of which are provided through CUR8’s platform, built to support the rapidly expanding market that grew 3x last year alone with spending in excess of $11bn.

As carbon removals enter the ‘pre-compliance’ phase, CUR8’s platform acts as the central data layer for purchasing, financing and delivery of carbon removals. Through its expert due diligence process, built on more than 100 data points, and ongoing risk monitoring, CUR8 provides ‘investment grade’ data to inform the financing and purchasing of removal credits. Its platform is already trusted by multinational banks like Standard Chartered and major brands like British Airways.

Carbon removals are already playing a key role in corporate net-zero strategies. Policy developments in Asia, EU and the UK are accelerating that trajectory by embedding removals into compliance and trading systems. Japan has played a particularly prominent role as one of the first countries worldwide to incorporate durable carbon removal in it's national emissions trading scheme (GX-ETS). While the first phase of the GX-ETS operates on a voluntary basis, it already allows the use of eligible credits from certain carbon removal technologies. In its second phase, the GX-ETS will become a compliance market beginning in April 2026.

Japan has played a particularly prominent role, as the first country worldwide to incorporate durable carbon removal in its compliance emissions trading scheme (GX-ETS), beginning in April of 2026.  As a result, all large emitters, including utilities and large industrial players, will need access to high-integrity, durable and transparent risk assessments to grow their portfolios. Tokyo Gas aims to achieve a CO2 reduction contribution of 17 million tons by 2030 as part of its Compass 2030 plan along the path to Net Zero by 2050. Acario’s backing reflects recognition that high-integrity removals will underpin future energy and climate systems, and that appropriate capital will only support their scale up if delivery risk is fully mitigated. Without CUR8’s platform, capital cannot move at the pace and scale required.

The investment also signals increasing international alignment between climate policy, with agreement coalescing on the policy frameworks for carbon removals to take shape. As government’s move to formalise standards and integrate removals into compliance and emissions trading systems, demand is growing, with early movers already benefitting from price advantages, access to projects and knowledge of the market.

This strategic investment from Acario follows a series of successful funding rounds, led by Google Ventures and Airbus Ventures, underscoring continued momentum and global confidence in CUR8’s pivot to data-driven market enablement. By providing precise risk insights, CUR8 helps the market distinguish between high-quality and low-quality supply, ensuring resources are directed effectively and this emerging compliance-driven trillion-dollar industry is rooted in quality.

Marta Krupinska, CEO and Co-founder of CUR8 said:

“To scale carbon removal to gigatonne levels, we need to move beyond early-stage equity and unlock commercial scale debt. That requires rigorous, reliable data. This investment validates our approach to building the risk infrastructure that allows capital to flow securely to the most promising removal technologies."

‍Kenji Maeda, CEO of Acario Innovation said:

‍“As the energy transition accelerates, the ability to accurately assess technical and delivery risk across a wide array of carbon removal technologies is becoming a competitive advantage. CUR8’s due diligence engine provides the clarity that financial markets have been waiting for. We believe CUR8’s data will play a vital role in helping utilities, banks, and corporate buyers navigate this complex asset class with greater conviction. We are delighted to invest in CUR8 and look forward to supporting its continued growth while exploring meaningful collaboration in the years ahead.”

About CUR8

CUR8 is the leading intelligence provider for the carbon removal market. Positioned at the intersection of climate science and finance, CUR8 uses proprietary scientific models to assess the efficacy quality, value, and delivery risk of carbon removal projects. This data enables corporate buyers to build de-risked, high-integrity net-zero portfolios and empowers capital providers to lend with confidence to the next generation of climate infrastructure. Committed to professionalising the sector, CUR8 is building the information architecture required to finance the trillion-dollar industry set to stop climate change. For more information about CUR8, visit www.cur8.earth.

About Tokyo Gas Co., Ltd.

Founded in 1885, Tokyo Gas Co., Ltd. is Japan's largest provider of city gas primarily in the Tokyo metropolitan area and surrounding Kanto region. Since the liberalisation of Japan's electricity market, it has also been providing electricity in the same area. As of its group's management vision "Compass2030," Tokyo Gas promotes the challenge of achieving "Net-Zero CO2" and will lead the transition to a decarbonised society. For more information about Tokyo Gas, visit www.tokyo-gas.co.jp.

About Acario Innovation LLC.

Founded in 2017 and headquartered in Silicon Valley, Acario Innovation LLC is the corporate venture capital and open innovation division of Tokyo Gas Co., Ltd. The name "Acario" comes from the word "Akari," which means "light" in Japanese. Acario is focused on funding market leading companies in the new energy economy, sustainability and digital transformation sectors, including mobility, energy storage, and next-generation customer and energy services. As a dedicated subsidiary of Tokyo Gas, Acario plays a key role on the path to Compass 2030, as outlined by Tokyo Gas.

For more information about Acario, visit www.acarioinnovation.com

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