CarbOn closes first fundraise

A new Paris-based company co-founded by two real estate professionals has attracted €1.4 mln of working capital for its mission to ‘support and finance’ the green renovation of commercial real estate across Europe.

Carb0n, whose name includes a zero in it as a reference to 'net zero' carbon targets, was founded last spring by Stanislas de Gabrielli and Hadrien Flon.

Both real estate professionals once worked at Unibail-Rodamco (as it was then known) between 2013 and 2015 before going off to do other things.

In a statement, the company said: ‘The real estate industry must act quickly to reduce its environmental footprint: buildings are responsible for nearly 30% of greenhouse gas emissions in Europe and 45% of energy consumption. To achieve the objectives set by the European low-carbon trajectory, more than €2,500 bn of investment must be financed by 2030.’

‘Yet, action is still too often hampered by the financing and complexity issues faced by institutional investors.’

The company explained that reducing carbon footprints and energy consumption remained a ‘major challenge’, which would be at the heart of real estate investment strategy for the next decade.

It added: ‘Real Estate assets, potentially both consumers and producers of energy, can and must become crucial levers in the energy transition. The property industry cannot afford not to be a positive force for the planet.’

Carb0n’s strategy is to help institutional investors along the ‘green renovation process’ by helping to find solutions and finance the upgrade of technical equipment at commercial real estate premises via lease-sell arrangements.

De Gabrielli said: ‘Accelerating the energy transition of commercial real estate is a duty. We are incredibly pleased to close this first fundraising, which confirms the need to offer ready-to-use solutions to support institutional players in their transition.’

De Gabrielli left Unibail-Rodamco-Westfield (as it is now known) to join Meyer Bergman (since renamed MARK) in 2015. He then worked as an investment director at DeA Capital Real Estate France. At Unibail-Rodamco-Westfield he was responsible for a German shopping centre portfolio. He began his real estate career as a financial analyst at DTZ Investors.

Hadrien Flon also left Unibail-Rodamco-Westfield in 2015 having been a retail analyst for the company. He then joined Catella as a senior investment analyst, progressing to deal leader from Paris.


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