Carbon Upcycling Technologies, a Calgary based clean tech startup, has raised $26M USD to integrate their proprietary technology into cement plants across North America and Europe.
The Series A funding round had notable participants including the Business Development Canada’s Climate Tech Fund, UK venture fund Climate Investment, Clean Energy Ventures, Amplify Ventures, Oxy Low Carbon Capital, CRH Ventures, and Cemex Ventures.
The big idea:
- Carbon Upcycling’s proprietary technology for cement plants produces low carbon cement and massively reduces total manufacturing emissions, which are notoriously high
- Their carbon capture technology can also be applied to other materials, including plastics
- Carbon Upcycling also is moving into consumer goods, which previously led to a partnership with Adidas in which they produced trail running shoes that featured carbon captured ink