Climate Tech Startup Secures $75M for Carbon Capture

CarbonCure Technologies, a pioneering climate technology company, has successfully raised $75 million in Series C funding to accelerate the deployment of its direct air capture (DAC) technology. The round was led by Breakthrough Energy Ventures, with participation from Amazon's Climate Pledge Fund and several other climate-focused investors.

The Halifax-based company has developed innovative technology that captures carbon dioxide directly from the atmosphere and permanently stores it in concrete, effectively turning construction materials into carbon sinks. This approach not only removes CO2 from the air but also strengthens the concrete, creating a win-win solution for the construction industry.

"We're at a critical juncture in the fight against climate change," said Jennifer Wagner, CEO of CarbonCure Technologies. "Our technology offers a scalable solution that can be integrated into existing construction processes without disrupting current workflows."

The global direct air capture market is projected to reach $7.8 billion by 2028, driven by increasing corporate commitments to net-zero emissions and supportive government policies. CarbonCure's technology is already being used in over 500 concrete plants worldwide, preventing more than 200,000 tons of CO2 emissions annually.

The new funding will be used to expand CarbonCure's manufacturing capabilities, accelerate research and development, and scale deployment across North America and Europe. The company also plans to explore new applications for its carbon utilization technology beyond concrete production.

With growing pressure on industries to reduce their carbon footprint, CarbonCure's solution addresses both environmental concerns and economic incentives, positioning the company as a leader in the rapidly expanding climate tech sector.