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CarbonCure raises $80M for concrete tech

Michael Flaherty
Jul 11, 2023

Photo: Ina Fassbender/AFP via Getty Images

CarbonCure Technologies has raised an $80 million equity round as the company builds out its carbon removal tech for the concrete industry.

Why it matters: The deal underscores demand for lower-carbon building materials as well as carbon removal tech.

Details: Blue Earth Capital led the round.

  • New investors include Samsung Ventures and BH3 Growth Equity.
  • Returning investors include Breakthrough Energy Ventures, Amazon, Microsoft, Taronga Ventures and 2150.

Of note: The Nova Scotia-based company intends to use the funding to speed up product development and its geographic reach. Citigroup acted as financial adviser for the financing.

Zoom in: The company says it recently hit a milestone of 750 systems sold across more than 30 countries, with nearly 5 million truckloads of lower-carbon concrete produced to date.

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