Carbon Upcycling Technologies Inc., a Calgary, Canada-based provider of circular decarbonization solutions, closed a US$26m Series A funding.
The round was co-led by Climate Investment and BDC Capital’s Climate Tech Fund with participation from existing financial investors Clean Energy Ventures, its angel investor collective CEVG, Amplify Capital, and strategic investors, Oxy Low Carbon Ventures, CRH Ventures, and Cemex Ventures.
The company intends to use the funds to deploy multiple commercial projects, including two co-located directly at cement plants.
Led by Apoorv Sinha, Founder and CEO, Carbon Upcycling is a leader in circular decarbonization solutions for hard-to-abate sectors, including cement, steel, and mining. The all-electric solution mineralizes CO2 emissions from industrial facilities and upcycles industrial byproducts into materials that reduce the carbon footprint of cement and concrete. Its commercial project deployments with, CRH in Canada and CEMEX in the United Kingdom, will be the first to integrate carbon capture and utilization at a cement plant. The company’s projects and research are also being supported by grants from the Government of Canada, UK Research and Innovation, and the US Department of Energy through work with the Colorado National Renewable Energy Laboratory.
FinSMEs
31/07/2023