Mizuho Banks today announced its $5 million investment in Australian clean tech company MCi Carbon Pty Ltd.
MCi Carbon specializes in the decarbonization of industry by means of carbon capture and utilization (CCU) technology that can help form a circular carbon economy.
In turn, Mizuho Bank has dedicated a separate ‘Transition Investment Facility’ particularly to support sustainability initiatives and direct funding towards early-stage or seed corporations.
MCi Carbon co-founder and CEO Marcus Dawe commented on the recent investment: “With an investment from Mizuho Bank, it is evident that Japan’s banks and industries are future proofing their economies and securing strategic advantages for their partnerships and exports for the new circular carbon economy.”
MCi Carbon offers a unique approach to the utilization of captured CO2 emissions – a chemical engineering process known as mineral carbonation.
With its help, the company can turn waste carbon dioxide into building materials and other valuable products.
The company’s technology can be used to react with carbon emitted from cement, fertilizer, steel, mining and other carbon-intensive facilities and create calcium, magnesium carbonates and a range of other inputs with a wide scope of applications.
MCi Carbon was one of the first companies to build a mineral carbonation demonstration plant with a grant from the Australian government worth AUD $14.6 million ($9.9 million).