Carbon Upcycling Technologies Gets $6M in Financing

Carbon Upcycling Technologies

$6M funding was provided to Carbon Upcycling Technologies, a Calgary-based carbon use company.

Clean Energy Ventures was the leader of the round. Other participants included Amplify Capital and Oxy Low Carbon Ventures and Zero Carbon Partners.

The company plans to use the funds for growth and to build its second North American commercial-scale facility capable of producing more than 200 tonnes per day of low-carbon concrete additive and cement.

Carbon Upcycling, headed by Apoorv Sinha as CEO, was founded to recycle CO2 gas and make advanced material additives. The company’s carbon-enhanced additives serve the concrete industry. However, they also offer complimentary additives for plastics manufacturing, coatings and consumer products. Carbon Upcycling’s ability to utilize CO2 emissions at point sources like power plants has increased by over 10,000,000 times since 2014.

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