Carbon Upcycling, a cleantech company, announced that it has secured $18 million in a new investment round to scale its technology for capturing and utilising CO2 in building materials. The round was led by impact platform Builders Vision. Established in 2014, the Calgary-based company provides carbon and waste circularity solutions to decarbonise hard-to-abate industries, including transforming industrial CO2 emissions and byproducts into low-carbon cement. Its “CUT CO2” solution is deployed at industrial sites to capture emissions before atmospheric release, using CO2 to enhance solid waste byproducts from industries such as coal, steel, and glass production into high-performance supplementary cementitious materials.
Carbon Upcycling is currently developing its flagship carbon capture and utilisation project at the Ash Grove Cement Company Mississauga Cement Plant and has recently signed a memorandum with TITAN Group to assess projects at two of its cement plants. The company aims to reduce 4 million tonnes of CO2 by 2030.
Apoorv Sinha, CEO of Carbon Upcycling, stated that Builders Vision’s investment and ongoing partner support signal a market readiness for scalable, science-based solutions. He emphasised that with this backing, the company is laying the groundwork for low-carbon construction, proving it is practical, profitable, and available today.
The investment round also saw participation from existing investors, including the Business Development Bank of Canada, Climate Investment, Amplify Capital, and strategic investors CRH Ventures, Oxy Low Carbon Ventures, and TITAN Group.
James Lindsay, Investment Director at Builders Vision, commented that Carbon Upcycling is redefining industrial decarbonisation by converting waste and emissions into valuable materials. He noted the technology’s applicability to various local feedstocks and its seamless integration into existing facilities, highlighting the importance of supporting their growth towards a sustainable and resilient construction industry, beginning with a flagship project that sets a new global standard.
