$80M funding round underscores CarbonCure investor confidence
Sources: CarbonCure Technologies, Halifax, Nova Scotia; CP staf
CarbonCure Technologies, developer of a widely deployed process for mineralizing and permanently sequestering carbon dioxide in concrete, has announced a major investment by Blue Earth Capital of Switzerland, part of a broader collaborative funding round exceeding $80 million. Funding round participants include existing CarbonCure shareholders Breakthrough Energy Ventures, Taronga Ventures, Amazon’s Climate Pledge Fund, Microsoft Climate Innovation Fund and 2150, plus new investors BH3 Growth Equity and Samsung Ventures (Corporate VC fund backed by Samsung C&T).
“The backing of this special syndicate is an exciting endorsement of our company as a go-to solution for low embodied carbon concrete, a leader in carbon removal technologies and a provider of the highest quality credits in the voluntary carbon market,” says CarbonCure Chair and CEO Robert Niven. “This latest investment underscores the growing appetite across the public and private sectors for proven solutions and the most impactful strategies to advance industrial decarbonization and accelerate carbon removal pathways that are immediate, permanent and verifiable.”
Funding round leader Blue Earth Capital advocates for sustainability through its growth investments, supporting companies that have the potential to deliver measurable impact alongside attractive financial returns. “We seek to address pressing environmental and social challenges globally,” observes Blue Earth Capital Head of Private Equity Kayode Akinola. “As part of our Climate Growth Strategy, we look to support promising technologies and companies enabling the redesign or supplementation of major industrial processes by using lower carbon-intensive materials and/or enabling raw materials to be reused. CarbonCure’s technologies achieve both, on the one hand enabling concrete production with less carbon-intensive cement and on the other creating less solid waste and using less fresh water.”
CarbonCure recently surpassed 750 CO2 storage and injection system installations at North American and overseas concrete plants. During the past decade, those operations have logged upwards of 5 million truckloads, or 37 million-plus yd. of CarbonCure process concrete. Through emissions prevention and capture, that volume equates to nearly 300,000 metric tons of CO2.