Rubicon Carbon
Rubicon Carbon is a TPG Rise Climate-backed carbon credit investment and management firm that channels institutional capital into high-integrity decarbonization projects and sells risk-adjusted, diversified carbon credit portfolios (RCT, RRT, Build-Your-Own) to global enterprises pursuing net-zero commitments.
- Company typePrivate
- Founded2022
- HeadquartersMarina Del Rey, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Rubicon Carbon does
Rubicon Carbon is a private, US-domiciled carbon credit investment and management firm founded in 2022 and headquartered in Marina del Rey, California, with a regional office opened in Singapore in June 2026. Backed by TPG Rise Climate Fund with an initial capital commitment of $300 million, the company channels institutional capital into at-scale, high-integrity decarbonization projects and delivers portfolio-based carbon credit solutions to enterprise buyers pursuing net-zero commitments. Its platform combines in-house scientific diligence, proprietary risk-adjustment methods, and a Technology Platform that supports end-to-end lifecycle management from purchase through retirement across major registries.
The company's commercial architecture centers on three product tiers: the Rubicon Carbon Tonne (RCT), a curated and actively managed diversified portfolio covering nature-based removals, avoidance, and super-pollutant credits; the Rubicon Rated Tonne (RRT), the first-ever carbon credit portfolio independently AAport-rated by BeZero Carbon and built for buyers requiring third-party credit assurance with built-in over-retirement; and a Build Your Own Portfolio offering for clients wanting tailored exposure. Distribution is direct-to-enterprise and sales-led, targeting global corporates such as Microsoft (framework for up to 18 million tonnes, up to $228 million potential value over 15–20 years), ByteDance (100,000+ RCT units acquired toward its 2030 carbon neutrality goal), and Genesys, alongside impact partnerships such as Water.org. The Technology Platform adds lifecycle dashboards, integrity scoring, ongoing MRV, and registry integration.
Rubicon's business model blends transaction-based take rates on portfolio sales, project investment and financing streams (notably the $66 million syndicated streaming facility into Imperative's Spekboom Phase 2 alongside Mirova, GenZero, and Bregal Sphere), and recurring portfolio-management services across multi-year offtake structures. The company combines direct enterprise sales with a partnership channel (CHOOOSE for integrated emissions APIs, Ecobase for European supply, and consortium-led demand aggregation through the ARC Coalition). AI is applied in service of risk reduction — geospatial over-crediting analysis, remote-sensing MRV, and variance forecasting — but is not disclosed as a standalone product surface.
Rubicon Carbon firmographics
Firmographics- Name
- Rubicon Carbon
- Legal name
- Rubicon Carbon Services, LLC
- Website
- https://rubiconcarbon.com
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Rubicon Carbon is a TPG Rise Climate-backed carbon credit investment and management firm that channels institutional capital into high-integrity decarbonization projects and sells risk-adjusted, diversified carbon credit portfolios (RCT, RRT, Build-Your-Own) to global enterprises pursuing net-zero commitments.
- Ownership category
- akta.pro rank
Rubicon Carbon industry classification
Industry- Product category
- Voluntary Carbon Markets
- NAICS
- Environmental Consulting Services (54162)
- akta.pro primary industry
- Carbon Hedging, Risk Management & Analytics (Pricing, VaR, Scenario Analysis) (EUABADAG)
Keywords
Where Rubicon Carbon is headquartered
LocationHeadquarters
- HQ city
- Marina Del Rey
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Rubicon Carbon business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Supply Chain, Marketing or Sales, Operations
Revenue model
- Carbon Credit Sales: Rubicon Carbon generates revenue through the sale of diversified carbon credit portfolios (Rubicon Carbon Tonnes) to corporate buyers. Transactions are structured as offtake agreements with long-term commitments (15-20 years for Microsoft framework). Revenue is transaction-based, derived from selling verified carbon credits sourced from project developers worldwide.
- Project Investment and Financing: Rubicon Carbon deploys capital into carbon projects for development, financing, and distribution of removal credits. This includes investments in projects like Imperative's Spekboom project ($91M financing round participation) and Ecobase partnerships. Revenue is generated through equity stakes and financing arrangements.
- Portfolio Management Services: The company provides bespoke portfolio building services, allowing clients to create customized carbon credit portfolios aligned with their unique climate and sustainability goals. Services include advisory support and educational resources for climate strategies.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Multi-year contract | Rubicon Carbon Tonne (RCT) - Curated Portfolio |
| Transaction based/ take rate | Multi-year contract | Rubicon Rated Tonne - Third-Party Verified Portfolio |
| Transaction based/ take rate | Multi-year contract | Build Your Own Portfolio |
Go-to-market motion3 records
Distribution channels3 records
Marketing channels6 records
Rubicon Carbon product offering
Product offeringCore offering
Rubicon Carbon is a B2B carbon credit investment and management firm that sources, develops, and distributes diversified portfolios of verified carbon credits (including avoidance, removal, and super-pollutant credits) to large corporate buyers. Its core offerings are the Rubicon Carbon Tonne (RCT) curated portfolio, the BeZero-rated Rubicon Rated Tonne (RRT), and a bespoke Build-Your-Own Portfolio service, all underpinned by an end-to-end technology platform for procurement, risk adjustment, monitoring/verification, and retirement of credits. The firm also deploys catalytic capital directly into nature-based and engineered carbon projects through partnerships with developers worldwide.
Product overview
Rubicon Carbon is a carbon credit investment and management firm offering a platform-plus-portfolio architecture. The core offering centers on the Rubicon Carbon Tonne (RCT), a diversified, actively managed portfolio of carbon credits, complemented by the Rubicon Rated Tonne (RRT) for buyers requiring third-party verification via BeZero Carbon's AAport rating. Clients can also build bespoke portfolios through the Build Your Own Portfolio feature. Underlying these offerings is a Technology Platform providing end-to-end lifecycle management from purchase through retirement. Rubicon Carbon is backed by TPG Rise Climate Fund.
Differentiator
Problem solved
Functional benefit
Brands
- Rubicon Carbon Tonne (RCT): A diversified, actively managed portfolio of carbon credits designed to reduce risk and increase optionality for corporate buyers. Includes nature-based emissions reductions, super pollutant elimination, and carbon removal solutions.
- Rubicon Rated Tonne (RRT)
Products and services
- Rubicon Carbon Tonne (RCT)
Quantifiable outcome
- Framework agreement with Microsoft for up to 18 million tonnes of carbon removal credits - one of the largest single-buyer commitments in VCM history
- +3 more outcomes
Companies that use Rubicon Carbon
Customer profileNamed customers4 records
Segments3 records
Ideal customer profiles2 records
Rubicon Carbon technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
AI capability5 records
Feature6 records
Rubicon Carbon partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered major, core and strategic.
- ARC Coalition (Action for a Resilient Climate)majorIndustry-led multi-sector initiative launched at GenZero Climate Summit 2026. Rubicon Carbon supports as demand aggregator and works on development of blended-finance financing facility. Goal to procure at least 10 million tonnes by 2030.
- Kijani ForestrycoreProject developer partnership for Smallholder Farmer Forestry Project in Northern Uganda. One of first projects approved under Uganda's Climate Change Mechanisms Regulations. Delivers 2 million tonnes to Microsoft under framework agreement.
- BeZero CarboncoreStrategic partnership where BeZero Carbon provides independent portfolio ratings for Rubicon Rated Tonne. The AAport rating is first-of-its-kind innovation combining Rubicon's credit portfolio with BeZero's Portfolio Rating methodology.
- MicrosoftcoreFramework agreement for purchase of up to 18 million tonnes of high-quality carbon removal credits. One of the largest single-buyer commitments in VCM history. Includes 15-20 year offtake structures for ARR projects globally.
- EcobasemajorStrategic partnership with Estonian-based European forestry carbon project developer. Rubicon Carbon became first-ever buyer of afforestation credits for EU-based project. Ecobase spans 24 European countries with projects covering over 7 million hectares.
- Imperative GlobalcoreStrategic collaboration to support development, financing, and marketing of up to US$500 million in high-quality carbon projects. Focus on nature-based removals across Africa, Asia, and Latin America. Target of generating 100+ million tonnes of high-quality carbon credits.
- CHOOOSEstrategicIntegrated partnership offering combined emissions calculation, reporting, and carbon credit solutions. CHOOOSE's APIs and white-labeled solutions provide streamlined access to Rubicon Carbon's carbon credits, emissions tracking, reporting, and transaction management.
- GenesysstrategicEvent sustainability partnership for Genesys Xperience conference. Rubicon Carbon assessed event footprint, minimized emissions, and offset remainder through nature-based carbon credits protecting Malawi's forests and wildlife.
- Water.orgstrategicImpact partnership where UN SDG 6 project customer purchases trigger donations to Water.org. In 2024, helped more than 1,900 people gain lasting access to clean water and sanitation. Water.org also offsets operational footprint with Rubicon Carbon credits.
- Carbon Growth PartnersmajorPartner with Rubicon Carbon to develop financing facility for high-integrity carbon credits under the ARC Coalition.
- World Wide Fund for Nature (WWF) SingaporemajorCoalition partner in ARC Coalition focused on bridging financing gap for climate and nature. WWF contributes expertise in transformation of carbon emitting sectors and maximizing climate action benefits.
Scale indicators10 records
Recent moves7 records
Expansion highlights6 records
Rubicon Carbon competitors and assessment
Company assessmentDirect peers
- Pachama: Carbon credit marketplace focused on nature-based removal projects, using AI/remote sensing for MRV. Directly comparable in nature-based sourcing, geospatial verification, and enterprise sales of carbon credits.
- Patch: Carbon credit API platform enabling businesses to embed carbon offsetting into digital products. Comparable in offering a technology-forward, API-integrated approach to carbon credit purchases for enterprise customers.
- NCX (Natural Capital Exchange): Marketplace for nature-based carbon credits originating from small and large landowners. Directly comparable in nature-based project sourcing and corporate buyer intermediation.
- Watershed: Enterprise climate platform combining carbon accounting, credit procurement, and portfolio management for large corporate buyers. Directly competes in the managed-carbon-portfolio and reporting layer Rubicon serves.
- South Pole: One of the largest global carbon credit advisory and project development firms, offering portfolio-level carbon solutions and offtake structuring to enterprise buyers. Directly comparable in B2B voluntary carbon market intermediation and portfolio construction.
- Cloverly: Carbon credit API and marketplace that allows businesses to embed carbon purchasing and offsetting into their products and workflows. Directly comparable in the portfolio-of-credits + technology-platform approach to enterprise buyers.
- Klima: Carbon credit marketplace and project financing platform that aggregates demand and offers curated portfolios. Directly comparable in carbon portfolio retailing and project origination partnerships.
Emerging players
- Sylvera: Independent carbon credit ratings agency. Closely related to Rubicon's BeZero partnership: provides ratings and analytics on carbon credit quality that influence enterprise procurement decisions across the VCM.
- BeZero Carbon: Independent carbon ratings agency that provides the AAport rating for Rubicon's RRT portfolio. While currently a partner, BeZero's ratings infrastructure and growing suite of portfolio products overlaps with Rubicon's risk-adjusted portfolio positioning.
Broad incumbents
- Verra: The dominant carbon credit standards body (Verra VCS) under which a majority of Rubicon-sourced credits are certified. While a registry/standards body rather than a commercial peer, Verra is the institutional backbone of the market Rubicon operates in and is a key counterpart for any offtake.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Rubicon Carbon social profiles
Digital presenceRubicon Carbon compliance and trust
Trust signalCompliance2 records
Rubicon Carbon financial estimates
Financial estimateRevenue estimate
Valuation estimate
Rubicon Carbon leadership team
Management profileNumber of profiles
Profiles18 records
Rubicon Carbon funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Rubicon Carbon M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Rubicon Carbon
What does Rubicon Carbon do?
Rubicon Carbon is a B2B carbon credit investment and management firm that sources, develops, and distributes diversified portfolios of verified carbon credits (including avoidance, removal, and super-pollutant credits) to large corporate buyers. Its core offerings are the Rubicon Carbon Tonne (RCT) curated portfolio, the BeZero-rated Rubicon Rated Tonne (RRT), and a bespoke Build-Your-Own Portfolio service, all underpinned by an end-to-end technology platform for procurement, risk adjustment, monitoring/verification, and retirement of credits. The firm also deploys catalytic capital directly into nature-based and engineered carbon projects through partnerships with developers worldwide.
Is Rubicon Carbon a public or private company?
Rubicon Carbon is a private company. It is classified as venture growth investor backed and is currently operating.
When was Rubicon Carbon founded?
Rubicon Carbon was founded in 2022. It employs 11 to 50 people.
Where is Rubicon Carbon based?
Rubicon Carbon is headquartered in Marina Del Rey, United States, in the North America region.
How does Rubicon Carbon make money?
Three revenue lines are on record. Carbon Credit Sales are the primary driver. The others are project Investment and Financing and portfolio Management Services.
Who are Rubicon Carbon's main competitors?
Direct peers on record are Pachama, Patch, NCX (Natural Capital Exchange), Watershed, South Pole, Cloverly and Klima. Emerging players are Sylvera and BeZero Carbon. Verra is listed as a broad incumbent.
Does Rubicon Carbon have an API?
No public API is recorded for Rubicon Carbon.
What industry is Rubicon Carbon in?
Rubicon Carbon's product category is Voluntary Carbon Markets. Its primary akta.pro industry code is EUABADAG, Carbon Hedging, Risk Management & Analytics (Pricing, VaR, Scenario Analysis). Its NAICS code is 54162.