CarbonCure Technologies has closed a strategic round of investment led by Breakthough Energy Ventures, one of the world’s most sought-after clean technology investment plans.
The Breakthrough Energy Ventures fund was created to accelerate the world’s transition to clean energy and is backed by an investor group that includes many of the world’s top business leaders.
The round includes the GreenSoil Building Innovation Fund and a notable follow-on investment by the Industrial, Clean and Energy Technology Venture Fund of BDC Venture Capital.
Prominent investors from prior rounds include Pangaea Ventures, 350 Capital, Innovacorp, Brightpath Capital Partners, Neo Ventures, the Shaw Group, Power Generations, and Carmanah Management.
“We’ve made it simple and profitable for the construction industry to build resilient structures with lower CO2 emissions. Every tonne of CO2 utilised in concrete production with the CarbonCure Technology results in a multiplier effect that saves an additional 28 tonnes of CO2 and over $3,100 in production efficiencies,” explained Rob Niven, Founder and CEO of CarbonCure.
“This strategic investment allows CarbonCure to scale our impact by expanding into international markets and commercialising new value-added solutions for the concrete industry that further improve its sustainability and production efficiencies.”
Following the investment, Breakthrough Energy Ventures gained a seat on CarbonCure’s Board of Directors.
“Breakthrough Energy Ventures invests in technology with the potential to eliminate a half gigaton of greenhouse gas emissions per year,” stated Carmichael Roberts of Breakthrough Energy Ventures. “CarbonCure represents a triple threat in achieving this goal: compelling economics with a solution that delivers value for customers from day-one, products in market today, and a measurable impact on reducing carbon emissions in the built environment.”
CarbonCure’s announcement comes on the heels of the Global Climate Action Summit, where world leaders in politics and business gathered to expand upon the ambitious targets set out by the historic Paris Agreement.
Emerging at the forefront of discussions was the topic of embodied carbon, which refers to emissions created by the manufacturing and transportation of building materials prior to their arrival on construction sites.