The new funding will boost the global scale of CarbonCure’s carbon removal technologies across the concrete industry & expand its supply of high quality carbon credits.
HALIFAX, Nova Scotia–(BUSINESS WIRE)–#CarbonCure–CarbonCure Technologies, the global leader in carbon removal technologies for the concrete industry, today announces a major investment led by Blue Earth Capital, part of a broader collaborative investment round totaling more than $80 million USD.
The new funding also includes strong and substantial support from existing shareholders, including Breakthrough Energy Ventures, Taronga Ventures, Amazon’s Climate Pledge Fund, Microsoft Climate Innovation Fund and 2150. New strategic investors include BH3 Growth Equity (BH3) and Samsung Ventures (Corporate VC fund backed by Samsung C&T). In addition to their financial backing, these firms are force multipliers of sustainability and innovation, with direct involvement in new product development and acting as market demand catalysts.
With 750 systems sold across more than 30 countries, this investment will support CarbonCure in achieving its growth plans and accelerating its product roadmap.
“The financial backing of this special syndicate of investors is an exciting endorsement of CarbonCure as a go-to solution for low embodied carbon concrete, a leader in carbon removal technologies and a provider of the highest quality carbon credits in the voluntary carbon market,” said CarbonCure Chair and CEO Robert Niven.
Blue Earth Capital is a mission-driven, global investment firm. It is an advocate for sustainability through its growth investments, supporting companies that have the potential to deliver measurable impact alongside attractive financial returns. Via its Climate Growth Strategy, Blue Earth Capital provides equity capital to help businesses scale, focusing on companies that offer products and services to facilitate the global energy transition as well as decarbonising key economic sectors including large scale production and consumption.
“Blue Earth Capital seeks to address pressing environmental and social challenges globally. To achieve this and as part of our Climate Growth Strategy, we look to support promising technologies and companies enabling the redesign or supplementation of major industrial processes by using lower carbon-intensive materials and/or enabling raw materials to be reused. CarbonCure’s technologies achieve both, on the one hand enabling concrete production with less carbon-intensive cement and on the other creating less solid waste and using less fresh water. Solutions like these are urgently needed to help meet global climate goals,” said Kayode Akinola, Head of Private Equity at Blue Earth Capital.
CarbonCure’s technologies have already been used to produce nearly five million truckloads of lower carbon concrete, saving about 290,000 metric tons of carbon dioxide, equivalent to taking 64,000 gas-powered cars off the road for a year.
CarbonCure Technologies, a fast-growing carbon dioxide removal tech company, has developed easy-to-adopt solutions that enable concrete producers to use captured carbon dioxide to produce reliable, low carbon concrete mixes and achieve market differentiation amid surging demand for greener building materials among architects, engineers, owners and developers. With hundreds of CarbonCure systems operating around the world, roughly five million truckloads of this concrete have supplied a broad spectrum of sustainable construction projects. CarbonCure’s cutting-edge research and innovation have garnered global recognition and prestigious titles, most notably Carbon XPRIZE Grand Prize Winner, 2022 CNBC Disruptor 50 List Company and Cleantech 100 Hall of Fame Company. CarbonCure’s investors also include Amazon, BDC Capital, Breakthrough Energy Ventures, Carbon Direct, GreenSoil Investments, Microsoft Climate Innovation Fund, Mitsubishi Corporation, Pangaea, 2150 and Taronga Group.
About Blue Earth Capital
Blue Earth Capital is a global, independent, specialist impact investor, headquartered in Switzerland, with operations in New York, London, and Konstanz. Blue Earth Capital seeks to address the world’s most pressing social and environmental challenges by delivering measurable impact alongside aiming for attractive and sustainable financial returns. The company operates dedicated private equity, private credit and fund solutions. Blue Earth Capital is owned by the Blue Earth Foundation, a Stiftung (charity/trust) registered in Switzerland that focuses on deep impact to support initiatives and business ventures to help deliver a more equitable and sustainable future.
Sr. Director of Corporate Communications
Blue Earth Capital