Furno Materials, a Mountain View, CA-based company that is building modular cement plants, received an investment from O’Shaughnessy Ventures.
The amount of the deal was not disclosed.
The company intends to use the funds to expand operations and its business reach.
Founded in 2020 by Gurinder Nagra, Furno is building modular cement plants that are more carbon-efficient, cheaper to build, and less space-intensive than traditional plants. Its modular cement plants burn natural gas instead of coal. This means they release less carbon dioxide than traditional cement plants and can be heated and cooled more efficiently.
The company’s plants are designed to fit inside a shipping container, meaning they are portable and take up minimal space, which is ideal for building in developing markets.
FinSMEs
05/02/2024