Displaying items by tag: investment

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.”

Canada/US: Harsco’s Environmental division has invested US$2.3m in Carbicrete, a Canadian technology company developing concrete products made with steel slag for the construction industry. The investment will give Harsco Environmental a Board seat in Carbicrete and has been made in conjunction with a US$1.6m grant from the Government of Canada’s Sustainability Development Technology Canada Foundation and applications to further government grant programs. Harsco’s investment will aid the development of the technology through a demonstration program with support from a commercial concrete block manufacturer as part of a development consortium.

“This investment in innovation is aligned with Harsco’s on-going expansion into environmentally-focused products and services, and we are proud to support the development of this exciting technology,” said Harsco Environmental chief operating officer Russ Mitchell.

Carbicrete is developing a technology that allows the production of concrete without using cement by using steel slag instead. The concrete mix is poured into molds, like conventional concrete, and is then cured using CO₂. During curing, the gas becomes a solid, binding together the slag granules, and giving the concrete its strength. Carbicrete says the process can be implemented in any precast concrete manufacturing plant. It also says that the technology is ‘carbon negative’ because more CO₂ is consumed than emitted during the process.