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Calgary company secures funding for world’s first carbon capture cement plants in Canada, U.K.

CALGARY, Alta. – Carbon Upcycling Technologies has closed its Series A funding round for approximately $34.3 million, which will support the first fully commercial-scale carbon capture deployments for cement plants in Canada and the United Kingdom.

Two projects stemming from this funding are collaborations with CRH and Cemex, who will both be the first companies with cement plants that integrate carbon capture and utilization. CRH will apply this technology at their Ash Grove cement plant in Mississauga, Ont., while Cemex will deploy it at their plant in Rugby, U.K.

Both companies will utilize Carbon Upcycling’s all-electric mineralization solution, which permanently stores carbon dioxide in industrial by-products and minerals and transforms them into alternative materials for a number of otherwise emission-heavy products, including cement and concrete.

Integration of this technology into both facilities is expected to be completed within the next 12 months. CRH has previously stated that they plan on eventually upscaling Carbon Upcycling’s technologies across their operations, which includes facilities across seven Canadian provinces, in addition to 28 other countries.

The funding round was co-led by BDC Capital’s Climate Tech Fund and Climate Investment, with contributions from Clean Energy Ventures, Oxy Low Carbon Ventures, CRH Ventures and Cemex Ventures.