About 50 million cubic yards of concrete have now been produced using the technology of Halifax clean concrete star CarbonCure, the company said Wednesday, with 800 systems having been licensed to clients across 35 countries.
The milestone comes as CEO Rob Niven and his team aim to help sequester 500 million tonnes of carbon dioxide annually starting by 2030 with the help of their technology for using carbon dioxide emissions to cure the concrete. CarbonCure’s systems report real-time data back to the company, and the team estimates they have averted about 400,000 tonnes of emissions, with about a third of that coming in the past year. The 50 millionth yard was produced by Singapore concrete giant Pan-United.
“Our customers are the real sustainability heroes, especially those earliest adopters who embraced CarbonCure and recognized the dual environmental and economic benefits of manufacturing green building materials,” said Niven in a statement. “Reaching 50 million cubic yards of lower carbon concrete underscores the industry's commitment to sustainability and demonstrates the tangible impact of innovative solutions in reducing carbon emissions.”
Niven’s team last year made history with the largest venture capital raise ever recorded in Nova Scotia at US$80 million, or C$105.7 million at the time.
CarbonCure, a star of the cleantech scene in Atlantic Canada and abroad, is funded by some of the most prominent names in innovation, including Bill Gates' and Jeff Bezos’s Breakthrough Energy Ventures and Amazon’s Climate Pledge Fund. Niven said previously the new backers that joined the latest raise were strategic investors of a different variety — entities that can actively help accelerate the adoption of CarbonCure’s technology.
For example, BH3 Growth Equity, which provides working capital to real estate businesses, is already deploying CarbonCure systems as part of its other activities, as is Samsung Ventures.