International financing will help support market expansion for CarbiCrete’s concrete carbon removal technology
Montreal, April 27, 2022 – CarbiCrete has announced that France’s Saint-Gobain and Singapore-based Aera VC have joined CarbiCrete’s Series A fundraising round.
Led by FS Investors, the round’s diverse investor base includes Arc Energy Fund 9, Fonds de Solidarité FTQ, Something Good Ventures, New Climate Ventures, Fondaction, MacKinnon, Bennett & Co. (MKB), and Innovobot.
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.
“Saint-Gobain has a long-standing commitment to reducing our environmental impact and is working to achieve net zero carbon by 2050,” says Minas Apelian, Vice President, External and Internal Venturing, Saint-Gobain.
“As cement and concrete are significant contributors of CO2 emissions worldwide, our investment in CarbiCrete to help develop and scale their technology aligns with our ambition for carbon neutrality as we work toward our purpose of making the world a better home.”
“CarbiCrete offers a revolutionary carbon negative solution to a $600B global industry that accounts for up to 8% of greenhouse gas emissions,” says Milena Nikolova of Aera VC. “As a global fund investing to reverse climate change, we are delighted to back their mission to decarbonise the industry.”
CarbiCrete’s CEO, Chris Stern, says that securing international funds will help support CarbiCrete’s expansion into new markets.
“These are strong international additions to our already robust investor base,” says Stern.
“In addition to financing, the involvement of these investors opens the door to a variety of strategic opportunities that will help propel CarbiCrete from an innovative Canadian technology to a global, state-of-the-art carbon removal method.”
“Saint-Gobain is an international leader in sustainable construction and we look forward to working with them on commercializing our carbon-negative technology in France and beyond.”
“Aera’s commitment to backing breakthrough technologies that reverse climate change, and their being located in Singapore, make them the perfect strategic partner for entry into the Asian markets.”
In December, CarbiCrete announced the launch of its commercial pilot housed at hardscape manufacturer Patio Drummond’s precast facility in Drummondville, Quebec that will yield the world’s first commercially-available carbon-negative concrete blocks.
In August of 2021, CarbiCrete sold a portion of the abatement and removal credits that will be generated by the commercial pilot to Spin, the micromobility subsidiary of Ford Motor Company.
CarbiCrete is a Montreal-based carbon removal technology company developing innovative, low-cost building solutions that reduce greenhouse gas emissions. CarbiCrete’s patented technology enables the production of cement-free, carbon-negative concrete made with industrial by-products and captured carbon dioxide. For every ton of concrete produced using the CarbiCrete process, 150 kg of CO2 are abated/removed. CarbiCrete was named to the Cleantech Group’s Global Cleantech 100 list for the second time in January 2022. Carbicrete.com
Worldwide leader in light and sustainable construction, Saint-Gobain designs, manufactures and distributes materials and services for the construction and industrial markets. Its integrated solutions for the renovation of public and private buildings, light construction and the decarbonization of construction and industry are developed through a continuous innovation process and provide sustainability and performance. The Group’s commitment is guided by its purpose, “MAKING THE WORLD A BETTER HOME”.
€44.2 billion in sales in 2021
166,000 employees, locations in 75 countries
Committed to achieving Carbon Neutrality by 2050
For more information about Saint-Gobain, visit saint-gobain.com and follow Saint-Gobain on Twitter @saintgobain
About Aera VC
Aera VC invests at the frontier of deep technology and sustainability to accelerate the world to a better future. Since launching in late 2016 the company has pioneered investments into transformational technologies to reverse climate change and advance new breakthroughs for humanity. Aera.vc