ESG Today writes that the 2015-founded startup focuses on using AI to optimize various manufacturing processes to ensure a stable and sustainable production. Company officials target especially harder to abate industries, such as steel, cement and chemicals manufacturing.

The whole production sector is responsible for a quarter of the planet's emissions, with two-thirds of this share coming from the industries mentioned above.

Fero Labs officials say that, so far, the company was able to save 100.000 tons of emissions related to the production of various goods, while saving its customers 20 million dollars.

Berk Birand, co-founder and CEO at Fero Labs, said that "the industrial sector is notoriously hard to decarbonize, and hardware solutions like carbon capture and storage come with a hefty price tag and daunting implementation process. White-box AI software requires no capital expenditure and can be quickly implemented. This means companies can immediately start reducing emissions and quantify emissions reduction more accurately."

The new funding will be aimed at delivering even more optimizations, with Fero Labs aiming to reduce 800.000 tons of emissions from manufacturing by 2025.