Transforming Waste and Carbon Dioxide into Cement Secures $18 Million Funding for Carbon Upcycling
In a significant stride towards a more sustainable future, Carbon Upcycling, a Canadian cleantech company, has recently secured $18 million in a new investment round. This funding will enable Carbon Upcycling to further develop its innovative technology aimed at decarbonizing hard-to-abate industries, particularly the construction sector.
Founded in 2014, Carbon Upcycling has been redefining industrial decarbonization by transforming waste and emissions into valuable, scalable materials. James Lindsay, Investment Director at Builders Vision, which led the investment round, expressed pride in supporting Carbon Upcycling's growth as they lead the charge towards a more sustainable and resilient construction industry.
Carbon Upcycling's technology is widely applicable to various local feedstocks and quickly integrates onsite with existing production facilities, meeting market needs. The company's flagship carbon capture & utilization project is currently underway at the Ash Grove Cement Company Mississauga Cement Plant.
The technology offers a comprehensive solution to reduce emissions and enhance the sustainability of construction materials. Key improvements include reduced cement usage, CO2 capture and sequestration, enhanced concrete performance, and scalability.
By integrating CO2 into the production process, Carbon Upcycling's technology requires less cement for concrete mixes, leading to a 60% reduction in carbon emissions. The technology also captures CO2 and sequesters it within the concrete, enhancing the durability of the material.
Moreover, Carbon Upcycling's concrete mix demonstrates higher strength compared to traditional concrete, with a 28% increase in strength at 28 days and a 32% increase at 56 days, even with a 12.5% reduction in cementitious content. This improved performance means that the same amount of material can be used more efficiently, further reducing waste and environmental impact.
The investment round was joined by existing investors including Business Development Bank of Canada, Climate Investment, Amplify Capital, CRH Ventures, Oxy Low Carbon Ventures, and TITAN Group. Carbon Upcycling has also signed a memorandum of agreement with TITAN Group to assess projects at two of its cement plants.
Carbon Upcycling's "CUT CO2" solution captures emissions before they are released into the atmosphere and utilizes the CO2 to enhance solid waste byproducts. The company, based in Calgary, delivers carbon and waste circularity solutions and has set a goal to reduce 4 million tonnes of CO2 by 2030.
With this significant investment, Carbon Upcycling is poised to make a substantial impact on the construction industry's carbon footprint, setting a new global standard for sustainable construction materials.
[1] Source: Carbon Upcycling Technologies Inc. [2] Source: Carbon Upcycling Technologies Inc. - Laboratory Testing Report, 2020.
- Science and environmental-science are integral to Carbon Upcycling's mission, as they use innovative technology to decarbonize hard-to-abate industries like the construction sector, helping combat climate-change.
- The recent $18 million investment round in Carbon Upcycling, led by Builders Vision, signifies a significant move in the finance sector towards supporting businesses that prioritize sustainability and energy efficiency.
- By integrating CO2 into the production process, Carbon Upcycling's technology not only reduces carbon emissions by 60% but also improves the durability and performance of concrete, demonstrating a more sustainable approach in the industry and environment.
- In addition to reducing carbon emissions and improving concrete efficiency, Carbon Upcycling's technology also captures CO2 and sequesters it within the concrete, further demonstrating their leadership role in the environment-focused industry, potentially setting new global standards for sustainable construction materials.
