CarbiCrete secures funding to replace cement in concrete

CarbiCrete has announced that Fonds de Solidarité FTQ, Fondaction, Fonds économie circulaire, and MacKinnon, Bennett & Co. (MKB) have joined CarbiCrete’s Series A investor base with a cumulative investment of $6M USD bringing the raise total to $18M USD with more investments to be announced in the coming weeks.

CarbiCrete recently announced a $12M in investments from FS Investors, Arc Energy Fund 9, Something Good Ventures, New Climate Ventures and Innovobot (also based in Quebec).

CarbiCrete’s carbon-negative process for the production of precast concrete replaces cement in concrete with industrial by-products and cures it with carbon dioxide, avoiding the GHG emissions associated with cement production, while permanently sequestering CO2 within the resulting concrete products. For every tonne of concrete produced using this process, 150 kg of CO2 are abated/removed.

“CarbiCrete’s technology shows that innovation can help reduce GHG emissions, even in more traditional industries such as concrete manufacturing. Thanks to such investments, the Fonds de solidarité FTQ is supporting both the fight against climate change et good quality jobs, the key elements of a just energy transition,” said Christian G. Brosseau, Vice-President, Private Capital and Impact Investment for Strategic Capital, Energy and Environment at the Fonds de solidarité FTQ.