CarbiCrete has successfully secured its Series A round of investments and is set to continue developing and commercializing its concrete product.
FS Investors, a private investment entity from California will provide the lion share of the $12 million investment.
With concrete being among the most heavily used materials on the earth, its production emits 8% of global greenhouse gas. And this is why CarbiCrete has come up with a carbon-negative approach to fix the concrete part of the global climate problem.
Other investors include New Climate Ventures, Something Good Ventures, Innovobot, Arc Energy Fund 9 and others.
This round of financing will help CarbiCrete commercialization its efforts and start developing potential marekts. The team is also set to grow and the company is confident that with more and more minds working on the project, more ideas and solutions will emerge to reduce CO2 emissions in the concrete manufacturing process.
The CarbiCrete approach to concrete
CarbiCrete has come up with a new way of reducing precast concrete through a carbon-negative process.
It replaces the cement with industrial by-products. CO2 is used to cure it while ensuring that GHG emission is limited to a minimum. This is done when CO2 is permanently sequestered in the resulting concrete products.
The process removes 330 pounds of carbon dioxide for every ton of concrete produced.
Potentual business partners should expect lower prices from CarbiCrete’s process, as it is affordable compared to traditional concrete manufacturing.
It has the potential to scale rapidly and reduce overall global greenhouse gas emissions if it becomes the standard way to produce concrete.
CarbiCrete joins a club of several concrete companies who already produce carbon negative concrete – Solidia and Snøhetta have already announced similar projects, while prominent producer Cemex announced in 2021 that is able to produce carbon neutral concrete.