Canadian cleantech company CarbonCure Technologies has announced an investment by leading technology and property developers, representing a commitment to tackling the carbon footprint of concrete.
Amazon’s Climate Pledge Fund and Breakthrough Energy Ventures (BEV) co-led the investment syndicate comprising Microsoft, BDC Capital, 2150. Thistledown Foundation. Taronga Group and GreenSoil Investments.
In 2019, Amazon co-founded the Climate Pledge as a commitment to be net-zero carbon by 2040 – ten years ahead of the Paris Agreement. The announced investment aligns with this commitment.
Robert Niven, CEO and Co-Founder of CarbonCure Technologies, said, “This collaborative investment by technology and property development firms is a great endorsement of CarbonCure as the go-to CDR solution for the growing tech construction space and the overall shift towards low embodied carbon construction materials.”
“We witnessed the tech industry setting climate change trends with their adoption of renewable energy sources like wind and solar. This investment in CDR signals a broader change of public and private infrastructure projects as industries and governments turn their focus toward the reduction of embodied carbon.”
Kara Hurst, Vice-President of Sustainability at Amazon, said, “We are excited to invest in CarbonCure, a company producing stronger, more sustainable concrete, which will help Amazon and other companies meet The Climate Pledge, a commitment to be net-zero by 2040.”
“We are looking forward to lowering the carbon footprint of many of our building by using CarbonCure concrete, including in Amazon’s HQ2 building in Virginia.”
CarbonCure intends to use the capital investment to accelerate its product roadmap and geographical expansion in order to meet its goal of remove 500 mega-tonnes of CO2 annually from the concrete industry by 2030.