📝 Carbon Upcycling Raises $10M

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Calgary-based Carbon Upcycling Technologies has secured up to $10 million in asset-backed financing from San Francisco’s ATEL Ventures to accelerate the construction of its first commercial-scale facility in Mississauga, Ontario. The project, located at the Ash Grove cement plant, aims to tackle the heavy environmental toll of concrete, which currently accounts for 8% of global $CO_2$ emissions. By utilizing patented carbon capture and utilization (CCU) technology, the startup plans to sequester emissions directly from cement kilns and combine them with local industrial waste to create high-performance, low-carbon cement substitutes.

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