Toronto: A Canadian cleantech company, CarbonCure Technologies, that develops carbon dioxide removal (CDR) solutions for the concrete industry has received investment from leading technology and property developers.
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, CarbonCure said on Thursday.
The investment represents a commitment to tackling the carbon footprint of concrete, the most abundant human-made material in the world.
Cement — the key ingredient that gives concrete its strength — is also one of the largest emitters of carbon dioxide in the built environment.
“This collaborative investment by technology and property development firms is a great endorsement of CarbonCure as the go-to carbon dioxide removal solution for the growing tech construction space and the overall shift towards low embodied carbon construction materials,” Robert Niven, CEO and Co-Founder of CarbonCure Technologies, said in a statement.
“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 for public and private infrastructure projects as industries and governments turn their focus toward the reduction of embodied carbon,” said Niven.
