Terra CO2 Technology Announces a $46M Series A Co-Led by Breakthrough Energy Ventures & LENX to Decarbonize Cement Production
Summary
GOLDEN, Colo.--(BUSINESS WIRE)--Terra CO2 Technology, the scalable low carbon alternative for cement production, announced today the closing of a $46M Series A financing round led by Bill Gates-founded Breakthrough Energy Ventures (BEV), and LEN . Others participating in the round include Creative Ventures, and Rio Tinto.Terras technology offers the most commercially advanced path for decarbonizing the built environment. This round brings Terras total funding raised to $61M.Terra will use the funds to accelerate research and development in low-carbon material science, scale the organization, and continue commercializing plant technology that will support the manufacturing of its future products, including OPUS SCM (Supplementary Cementitious Material), and OPUS BCM (Blended Cementitious Materials), Terras first commercial products.Terras technology is unique in its ability to produce the same consistent product from a growing menu of silicate type feedstocks, the most common rock on the earths surface," said Bill Yearsley, President and CEO at Terra CO2. Most of the alternatives to Portland cement being tested today are limited by using one specific feedstock that is often not widely available near urban markets or that requires permitting new mines to source. BEV seeks true breakthroughs and is committed to supporting these entrepreneurs and companies by bringing to bear a unique combination of technical, operational, market and policy expertise.BEV is a part of Breakthrough Energy, a network of investment vehicles, philanthropic programs, policy advocacy and other activities committed to scaling the technologies we need to reach net-zero emissions by 2050.