The investment will propel CarbonCure towards its mission of reducing and removing millions of metric tons of carbon dioxide emissions from the atmosphere annually. With a presence in 30 countries already, this funding will enable CarbonCure to realise its growth plans and expedite the development of its product roadmap. This will empower the company’s hardware and software platform to deliver both commercial value and sustainability benefits to concrete producers, while aligning with global climate objectives.
Existing shareholders, including Breakthrough Energy Ventures, Taronga Ventures, Amazon’s Climate Pledge Fund, Microsoft Climate Innovation Fund, and 2150, have shown unwavering support and made substantial contributions to this funding round. Joining as new strategic investors are BH3 Growth Equity (BH3) and Samsung Ventures (the corporate venture capital fund backed by Samsung C&T). These investors not only bring financial backing but also serve as catalysts for sustainability and innovation, actively engaging in new product development and stimulating market demand.
“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 Robert Niven, Chair and CEO of CarbonCure Technologies.
“This latest investment underscores the growing appetite across the public and private sectors for proven solutions and the most impactful strategies to advance industrial decarbonisation and accelerate carbon removal pathways that are immediate, permanent and verifiable,” Niven said.
“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.
With the capital investment at hand, CarbonCure is poised to expedite its product roadmap and expand its geographical reach, advancing its mission of reducing and removing millions of metric tons of carbon dioxide from the atmosphere annually. In this endeavour, CarbonCure received financial advisory support from Citi during the financing process.
“Our solutions help concrete producers deliver high quality, lower carbon concrete in an efficient, economical and non-disruptive way,” said Niven. “With more than 750 systems sold, this latest investment will drive CarbonCure’s deployment across the global concrete industry as the private sector doubles down on sustainability in new construction and as federal, state and even municipal procurement policies requiring green building materials continue to multiply.”