CarbonCure Technologies, the Halifax CleanTech company, is moving into the Asian market with a strategic partnership with Pan-United Corp., the leading concrete and cement company in Singapore.
They announced the deal Sunday, saying the Singapore company will use the CarbonCure technology to reduce the carbon dioxide generated in the production of ready-made concrete. As well as its base in Singapore, Pan-United has operations in Malaysia, Indonesia and Vietnam.
CarbonCure has developed a technology that cures concrete by injecting it with CO2 that would otherwise be emitted into the atmosphere. The technology, which reduces builders’ costs while producing a strong concrete, is being used in 105 concrete plants in the U.S. and Canada, and the Pan-United contract marks its first move outside of North America.
"Singapore is a vital gateway for CarbonCure’s entry into Asia to further our global efforts to mitigate harmful carbon emissions from the built environment,” said CarbonCure CEO Robert Niven in a statement. “We are delighted and convinced that we have a like-minded and strong partner in Pan-United, which is the industry leader in South-east Asia for advancing green concrete initiatives. Pan-United’s technology capabilities in the concrete and logistics space are second to none in this region.”
The two companies signed the strategic partnership at a ceremony in Singapore on Thursday, which was attended by James Gordon Carr, Canada’s Minister of International Trade Diversification, and Png Cheong Boon, Chief Executive Officer of Enterprise Singapore.
Pan-United said the CarbonCure technology could reduce CO2 emissions by 4,000 tonnes a year at each of its concrete plants. This is equivalent to the amount of CO2 that would be sequestered by forestland covering 2.6 percent of the total landmass of Singapore.
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CarbonCure, which employs 25 people, has been on a roll lately. This summer, the company was named one of 10 finalists for the US$20 million NRG COSIA Carbon XPRIZE Challenge. The competition aims to recognize companies that find commercial uses for carbon that would otherwise be sent into the atmosphere. CarbonCure has already received US$500,000 as a finalist and could win a further US$7.5 million next year.
Then in September, CarbonCure announced that it had received an undisclosed amount of capital from Breakthrough Energy Ventures, a US$1 billion fund created to accelerate the world’s transition to clean energy. Its investors include Bill Gates, Jack Ma, Jeff Bezos, and a roster of other billionaires. The other investors in the latest round include Toronto-based GreenSoil Building Innovation Fund and previous investor BDC Venture Capital.
CarbonCure is a portfolio company of Elemental Excelerator, a global growth accelerator that supports clean technology deployment in the Asia Pacific, Hawaii and California regions.
“Pan-United is excited to expand our portfolio of sustainable initiatives with the addition of CarbonCure’s unique breakthrough technology,” said Pan-United Executive Director Ken Loh. “We view its clean technology as very useful in addressing the urgent climatic need to reduce the global carbon footprint. Pan-United intends to expand the use of the CarbonCure Technology by introducing it to other ready-mix concrete producers in Singapore and the region.”