CarbiCrete have announced a new carbon financing collaboration with Meta that will enable the installation of CarbiCrete equipment at Canal Block, a block-maker in Ontario, and expand equipment capacity at Patio Drummond in Quebec.
CarbiCrete's patented technology enables the production of cement-free concrete, avoiding cement-related emissions by replacing cement with a steel-making by-product and removing carbon dioxide from the atmosphere by mineralising CO2 into the concrete for permanent storage.
3Degrees, a leading climate solutions provider and CarbiCrete's long term partner for assuring and monetising emission reductions, will oversee the quantification and verification of the emissions reductions generated by CarbiCrete's patented process for making decarbonised concrete.
"This is truly a win-win scenario," says Jacob Homiller, CarbiCrete's CEO. "The accelerated implementation of our technology will have an immediate impact, reducing emissions in the concrete value chain, while making cement-free concrete materials available to the construction industry. We are thrilled to be working alongside Meta and 3Degrees to decarbonise this hard-to-abate industry."
"Decarbonising hard-to-abate sectors like concrete is an important part of our strategy to achieve net zero emissions across our value chain in 2030," said Devon Lake, head of net zero strategy at Meta. "Collaborating with organisations like CarbiCrete, who have meaningfully made progress in this sector, is instrumental to accelerate the implementation of this technology and drive results."
"This work demonstrates the potential for utilising carbon finance to drive deep supply chain decarbonisation," said Mark Mondik, Vice President, Carbon Markets at 3Degrees. "We are thrilled to leverage our technical expertise and experience in environmental markets to make this transaction a reality."
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