CarbonCure’s Technologies, a leader in carbon dioxide removal technologies for the concrete industry, has announced a major investment led by Blue Earth Capital, as part of a broader collaborative investment round totaling more than USD$80 million.
The new funding also includes strong and substantial support from existing shareholders, including Breakthrough Energy Ventures, Taronga Ventures, Amazon’s Climate Pledge Fund, Microsoft Climate Innovation Fund and 2150. New strategic investors include BH3 Growth Equity and Samsung Ventures. In addition to their financial backing, these firms are force multipliers of sustainability and innovation, with direct involvement in new product development and acting as market demand catalysts.
The investment will enable CarbonCure to accelerate toward its mission to reduce and remove millions of metric tons of carbon dioxide emissions from the atmosphere each year. Already operating in 30 countries, this funding will support CarbonCure in achieving its growth plans and accelerating its product roadmap, allowing its hardware and software platform to deliver commercial value and sustainability benefits to concrete producers while meeting global climate goals.
CarbonCure’s carbon removal technologies help concrete producers build stronger businesses and meet surging demand for more sustainable concrete. (Image Credit: CarbonCure Technologies.)
“The financial backing of this special syndicate of investors is an exciting endorsement of CarbonCure as a go-to solution for low embodied carbon concrete, a leader in carbon removal technologies and a provider of the highest quality carbon credits in the voluntary carbon market,” said Robert Niven, chair and CEO of CarbonCure Technologies.
“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,” Niven said.
Blue Earth Capital is a mission-driven, global investment firm. It is an advocate for sustainability through its growth investments, supporting companies that have the potential to deliver measurable impact alongside attractive financial returns. Via its Climate Growth Strategy, Blue Earth Capital provides equity capital to help businesses scale, focusing on companies that offer products and services to facilitate the global energy transition as well as decarbonizing key economic sectors including large scale production and consumption.
“Blue Earth Capital seeks to address pressing environmental and social challenges globally. To achieve this and 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,” said Kayode Akinola, head of private equity at Blue Earth Capital.
“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. Solutions like these are urgently needed to help meet global climate goals,”
CarbonCure intends to use the capital investment to accelerate its product roadmap and geographical expansion to meet its mission to reduce and remove millions of metric tons of carbon dioxide from the atmosphere each year. Supporting these efforts, Citi acted as a financial advisor to CarbonCure during its financing.
“Our solutions help concrete producers deliver high quality, lower carbon concrete in an efficient, economical and non-disruptive way,” added Niven. “With more than 750 systems sold, this latest investment will drive CarbonCure’s deployment across the global concrete industry as the private sector doubles down on sustainability in new construction and as federal, state and even municipal procurement policies requiring green building materials continue to multiply.”
Featured image credit: Getty Images.