Sustainable Finance

Carbon Upcycling Gets $6 Million to Expedite Carbon Reduction in Concrete Industry

Published on: 24 April 2022 05:55 PM
by KnowESG

Carbon Upcycling Technologies has secured $6 million in funding to advance its carbon reduction efforts in the concrete sector. The company makes cement and concrete additives with carbon dioxide contained in it. It claims that its technology has allowed achieving emissions reductions in concrete manufacturing that are more than twice the industry average.

The company claims to have reduced emissions in concrete manufacturing by more than double the industry standard by using a carbon dioxide-embedded cement and concrete additive. Clean Energy Ventures, a venture capital business that funds early-stage climate technology technologies, led the fundraising.

Carbon Upcycling, based in Canada, will utilise the funds to help establish its second North American facility, which will be capable of producing more than 200 tonnes of low-carbon cement and concrete additive each day. According to Clean Energy Ventures, Carbon upcycling's technology could help reduce four gigatons of carbon emissions by 2050 if widely implemented.

Cement is one of the most frequently used building materials, with a global market worth over $750 billion each year. According to the Proceedings of the National Academy of Sciences, its manufacture amounts to around 8% of global carbon dioxide emissions.

According to Carbon Upcycling, the supplementary cementitious elements help make concrete tougher, more permeable, and cost-effective has expanded over the last decade, but the business claims they aren't sustainable and prioritises performance over emissions reductions.

The company claims that its method, which effectively leaves carbon dioxide intact in the cementing ingredient and hardens it in the finished product, helps solve that problem. Carbon Upcycling further claims that its material outperforms activity strength by 40%.

Making materials like cement more environmentally friendly will reduce building and city carbon footprints.

Similar industries such as asphalt have enhanced their net-zero targets. They pledge to achieve those targets by 2050 primarily through recycled resources.

Carbon Upcycling also claims that its solid nanoparticles generated from carbon dioxide got approval for usage in polymers. Oco, the company's consumer goods brand, was just introduced.

CEMEX Ventures, Amplify Capital and Oxy Low Carbon Ventures, Zero Carbon Partners, Purpose ESG, Clean Energy Venture Group, Fund for Sustainability and Energy, Prithvi Ventures, Bryan Trudel, and Mark and Faye McGregor participated in the funding.

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