CarbonCure Technologies, a climate-friendly firm that is infusing recycled carbon dioxide into concrete to increase its strength, has won funding from Breakthrough Energy Ventures. BEV, led by Microsoft’s Bill Gates, reportedly aims to invest USD 1 billion in radical energy startups & companies with the potential to cut the greenhouse gas emissions.
According to reports, the fund draws on the resources of global billionaires like Amazon’s Jeff Bezos, Virgin’s Richard Branson, Alibaba’s Jack Ma, India’s Mukesh Ambani, former New York City mayor Michael Bloomberg, and SoftBank’s Masayoshi Son.
Christie Gamble, director of sustainability, CarbonCure, reported in a statement that the company’s mission is to reduce the carbon footprint to build healthy-living environment for everyone. She further added that it very thrilling for an Atlantic Canadian company like hers to reach the profile of the investor group behind Breakthrough Energy Ventures.
CarbonCure said that it is one among nine companies and the only Canadian firm to receive a funding in the latest USD 100 million investments round from BEV. The company however did not disclose how much funding it received from the BEV, but revealed that it will use the money for research & development and to expand in the Asia and Europe markets.
For those uninitiated, CarbonCure was founded in 2007 and has installed its technology in over 100 concrete plants across the United States and Canada. The company adds carbon dioxide into fresh concrete during a mixing process which strengthens the concrete and enables the manufacturers to use less cement in turn saving costs and reducing carbons from the concrete industry.
According to Gamble, it is this technique that makes the technology ultimately compelling. She says, it is the win-win solution of finding a lucrative business model which also results in fighting climate change and GHG emissions.