Deloitte And CarbonCure Sign Agreement On Concrete CO2 Storage Technology

Deloitte And CarbonCure Sign Agreement On Concrete CO2 Storage Technology - Carbon Herald

Global consulting leader Deloitte and CarbonCure, a sustainable concrete company, have entered into an agreement employing concrete CO2 storage technology.

The multi-year deal will see Deloitte purchase high-quality carbon credits to directly support the deployment of CarbonCure’s innovative carbon removal technologies worldwide.

CarbonCure, recognized as the North American Cleantech Company of the Year in 2020 and the grand prize winner of the Carbon XPRIZE in 2021, is a leading Canadian carbon removal technology company.

Relevant: CarbonCure Raises $80M In New Equity Round

Concrete is widely utilized as the primary building material worldwide, with an annual usage of approximately 30 billion tons. The production of cement is responsible for approximately 7 percent of worldwide carbon dioxide emissions—triple the CO2 impact of global air travel.

By utilizing advanced technologies, CarbonCure combines CO2 with concrete components, converting it into a material that improves the durability of concrete and decreases its dependence on its main carbon-heavy component, cement.

Their cutting-edge methods entail the injection of captured and liquefied CO2 from industrial sources, as well as direct air capture (DAC), into concrete. This not only allows for the long-term storage of CO2, but also enhances the strength of the concrete, leading to both economic and environmental benefits.

CarbonCure’s innovative technology for ready mix concrete can decrease its environmental footprint by around 5 percent per load.

Sheri Penner, Managing Partner of Purpose and Sustainability at Deloitte Canada, emphasizes the critical role of corporate buyers in early investment in climate solutions for decarbonization of high-emitting industries and permanent carbon removal.

She underscores the importance of supporting the development and validation of high-quality carbon removal credits to expand the gigaton market necessary to achieve net zero. She goes on to add: “As part of Deloitte’s commitment to a 1.5-degree aligned science-based target, we are pleased to support Canadian clean technology innovations with CarbonCure.”

This collaboration between Deloitte and CarbonCure is expected to stimulate similar cooperation within the sector, ultimately driving the industry towards a more sustainable and environmentally friendly future.

Read more: Deloitte Introduces Decarbonization Software For Organizations

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts
Translate »