CarbonCure Technologies, a cleantech company, has recently announced a funding led by leading technology & property developers.

The investment has been co-led by Amazon’s Climate Pledge Fund & BEV (Breakthrough Energy Ventures), including other investors such as GreenSoil Investments, Taronga Ventures, Thistledown Capital, 2150, BDC Capital, and Microsoft.

The funding demonstrates the rising focus of the company on reducing the carbon footprint produced by concrete, which is the largest CO2 emitter.

According to CarbonCure Technologies’ Co-Founder and CEO, Robert Niven, the recent investment will enhance the go-to CDR solution of CarbonCure as well as the overall shift towards low-carbon construction materials. He further added that the technology industry has also been lending prime focus on taking climate change initiatives via the adoption of clean energy sources. Moreover, the investment will ensure the modification of the private and public infrastructure projects to become a part of the embodied carbon reduction trend followed by the governments and industries across the globe.

For instance, in 2019, Amazon announced ‘Climate Pledge’, a commitment to reach net-zero carbon footprint by 2040. The recent investment in CarbonCure significantly aligns with this commitment.

CarbonCure is planning to use the capital investment to increase the product roadmap as well as geographical expansion to meet its target of removing 500 megatons of CO2 from the concrete industry annually by 2030. The company has been serving over 300 concrete producers by supplying its low embodied carbon concrete for various construction projects.

BEV’s Dr. Carmichael Roberts, has cited that the rapid growth of CarbonCure in North America can be attributed to its cleantech solutions that benefit the concrete producers from the sustainability and commercial standpoint.

Brandon Middaugh, Director of Climate Innovation Fund at Microsoft, also has stated that the development of innovative technologies is crucial in achieving net-zero carbon footprint. He further added that CarbonCure can help reduce emission levels from the concrete industry and meet the carbon negative target by 2030.

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