Nova Scotia-based CarbonCure Technologies, which develops green concrete, has closed on a $3.5 million Series B financing round led by BDC Venture Capital. Proceeds from the funding will accelerate the company’s growth by expanding the technology applications from masonry to precast and ready mix and will further increase its customer base across North America.
The cleantech startup develops technologies that convert waste CO2 into stone within concrete. There are some big environmental and market advantages to using CarbonCure’s technology in the manufacturing process, including a higher early strength of concrete, which translates into lower cement requirements and a lower CO2 footprint. In the last two years, CarbonCure’s technology has been adopted by several of North America’s largest concrete producers.