Transforming Waste and Carbon Dioxide into Cement Secures $18 Million Investment for Carbon Upcycling Company
Carbon Upcycling Advances Towards Commercial Deployment of Carbon Capture Technology
Carbon Upcycling, a Canadian cleantech company based in Calgary, is making significant strides in the fight against climate change. The company has recently raised $18 million in a new investment round, led by impact platform Builders Vision, and joined by existing investors such as Business Development Bank of Canada, Climate Investment, Amplify Capital, CRH Ventures, Oxy Low Carbon Ventures, TITAN Group, and others [1].
This investment is seen as a powerful signal that the market is ready for scalable, science-based solutions like Carbon Upcycling. The company's technology, which captures industrial CO2 emissions and utilizes them to enhance solid waste byproducts, is widely applicable to various local feedstocks and easily integrates with existing production facilities [2].
One of the key applications of Carbon Upcycling's technology is in the cement industry. The company is currently developing its flagship carbon capture & utilization project at the Ash Grove Cement Company Mississauga Cement Plant. This project, according to James Lindsay, Carbon Upcycling's Investment Director, is setting a new global standard [3].
In addition to the Ash Grove project, Carbon Upcycling has signed a memorandum of agreement with TITAN Group to assess projects at two of its cement plants. The enhanced byproducts produced by Carbon Upcycling's solution, "CUT CO2", are used to produce high-performance supplementary cementitious materials [4].
Carbon Upcycling's goal is to reduce 4 million tonnes of CO2 by 2030. To achieve this, the company is planning to scale its technology globally, with ambitions to install equipment capable of producing 2 to 4 million tonnes of SCMs per year by the end of 2030 [1]. This expansion is supported by partnerships and investments from major cement producers such as Ash Grove, CRH, and TITAN Group.
The company is also focusing on organizational growth to sustain rapid growth and global operations. Supported by the Opportunity Calgary Investment Fund, Carbon Upcycling is investing in leadership development programs to transition from a startup to a scale-up company with more complex management structures and strategy execution capabilities [5].
In the words of James Lindsay, "Carbon Upcycling is redefining industrial decarbonization by turning waste and emissions into valuable, scalable materials" [1]. The flagship project at the Ash Grove Cement Company Mississauga Cement Plant is aimed at demonstrating that low-carbon construction is not just possible but practical, profitable, and available today. With the support of Builders Vision and strategic partners, Carbon Upcycling is setting the foundation for low-carbon construction.
Sources: [1] Carbon Upcycling Technologies Inc. (2022). [Press Release]. Retrieved from https://carbonupcycling.com/news/carbon-upcycling-technologies-raises-18-million-to-scale-its-carbon-capture-and-utilization-technology [2] Carbon Upcycling Technologies Inc. (n.d.). About Us. Retrieved from https://carbonupcycling.com/about-us [3] Carbon Upcycling Technologies Inc. (2021). [Press Release]. Retrieved from https://carbonupcycling.com/news/carbon-upcycling-technologies-signs-memorandum-of-understanding-with-titan-group-to-assess-projects-at-two-of-its-cement-plants [4] Carbon Upcycling Technologies Inc. (n.d.). Our Technology. Retrieved from https://carbonupcycling.com/our-technology [5] Carbon Upcycling Technologies Inc. (2021). [Press Release]. Retrieved from https://carbonupcycling.com/news/carbon-upcycling-technologies-receives-funding-to-support-rapid-growth-and-global-operations
- In the fight against climate change, Carbon Upcycling, a science-based cleantech company, is making significant progress with its decarbonization technology, having recently raised $18 million from impact platform Builders Vision and other investors.
- Carbon Upcycling's technology captures industrial CO2 emissions and utilizes them to enhance solid waste byproducts, demonstrating the potential of scalable solutions in the industry and environmentally-focused science.
- One key application of Carbon Upcycling's technology is in the cement industry, where they are developing a flagship carbon capture & utilization project at the Ash Grove Cement Company Mississauga Cement Plant, setting a new standard for low-carbon construction.
- To achieve its goal of reducing 4 million tonnes of CO2 by 2030, Carbon Upcycling is planning global expansion, investing in organizational growth, and partnering with major cement producers, all while leveraging technology to drive change in the energy sector finance.
