Green concrete company CarbonCure Technologies has closed a US$3 million Series C investment round. The investment will be used to increase sales in the concrete masonry sector and to expand CarbonCure’s CO2 utilisation technology into the ready-mixed concrete sector.
Investments were led by Pangaea Ventures, a world leader in advanced materials venture capital. Panagaea is joined by investors from the previous rounds, including BDC Capital, as well as several new strategic investors including Power Generations Inc.
“We continue to be impressed with CarbonCure’s progress creating value for concrete producers, architects and builders; now is the time for rapid commercial rollout, which this funding round will fuel,” said Tony Van Bommel, Partner at BDC Capital.
“Pangaea has been following CarbonCure for several years now and we are delighted to now be partnered with this industry leading team. With a scalable, capital efficient business model and attractive customer economics, we see no reason why the company’s technology won’t be ubiquitous in the industry within a few years,” said Andrew Haughian, Partner with Pangaea Ventures.
Adapted from press release by Katherine Guenioui