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News Displaying items by tag: Minister of Energy and Natural Resources

Displaying items by tag: Minister of Energy and Natural Resources

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Carbicrete secures US$1.5m funding from SQN Venture Partners

21 December 2020

Canada: Carbicrete has secured US$1.5m in funding from US-based SQN Venture Partners (SQNVP). The funds will finance research and development activities at its new Lachine laboratory, as well as operations at its Drummondville pilot plant in Quebec. It said that this brings its total funding received from major investors in 2020 to US$8m with investment already agreed from Harsco Environmental, the Quebec Ministry of Energy and Natural Resources and Sustainable Development Technology Canada (SDTC). The technology company is developing concrete products made with steel slag for the construction industry.

Chief executive officer (CEO) Chris Stern said, “This venture debt cash injection following our equity financing further underlines the thesis that the financial markets are believing in value-added, carbon-negative technologies such as CarbiCrete that mitigate CO2 in our atmosphere. We are proud to have SQNVP as an investor in our company.”

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