Today (September 13, 2012), CarbonCure Technologies Inc. announced a private investment from 350 Capital, a developer-led green building technology investment group based in Toronto. The investment amount was not disclosed.
“We’re excited about CarbonCure’s technology and delighted to be able to support their goals through this investment and several demonstration installations,” said Jamie James, 350 Capital’s president and the founder of Tower Labs @MaRS, a green building technology accelerator. “We anticipate significant growth in Ontario, thanks to the ongoing success of Toronto’s construction industry and the relationship between CarbonCure and Atlas Block. Our experience handling the finished product at the Hullmark Centre installation was great. We have confidence that, once full production is underway, market adoption can be rapid and straightforward.”
David Miller, former mayor of Toronto and a CarbonCure advisor, added, “Rob (Niven) and his management team are finding ways to aggressively cut the carbon footprint of concrete products.” Miller is a noted environmentalist and the past chair of the C40 Cities Climate Leadership Group.
350 Capital’s investors are experienced developers seeking favourable returns on products and technologies that support the greening of the high-rise construction industry. In 2010, James launched Tower Labs with Tridel, Canada’s leading high-rise condominium developer, and MaRS, an innovation and clean technology centre in downtown Toronto. These organizations promote clean technology demonstration projects in new buildings across the city. In June, Tower Labs worked with Tridel, Atlas Block and Venice Masonry contractors to install CarbonCure Block in a Whole Foods parking garage in the Hullmark Centre Complex of North York.
Pre-cast concrete manufacturers like Atlas Block value CarbonCure’s ability to accelerate the curing and early strength of their products. Architects, engineers, and contractors – and LEED-certified tower builders like Tridel – like that the product sequesters post-industrial CO2 in a permanent limestone or calcium carbonate form.
“Our team is excited by 350 Capital’s commitment and we see their investment as a major confirmation of our approach. Together with Atlas Block, we plan to deliver the most sustainable concrete products available to Canada’s top developers,” said CarbonCure’s founder and CEO, Robert Niven.
About CarbonCure Technologies Inc.
CarbonCure Technologies Inc. is a materials science innovator deploying CO2-sequestration solutions to concrete products manufacturers. Concrete is the second most widely used material globally and is responsible for ~5% of total greenhouse gas emissions. The company’s proprietary technology is an intuitive, elegant method of repurposing waste carbon dioxide—and is used to strengthen concrete, accelerate curing (drying), and make concrete less carbon-intensive overall. End concrete products range from sustainable blocks to pavers and segmented retaining walls. Inspired by biomimicry and ‘systems design’ engineering, CarbonCure’s product delivers captured CO2 into a semi-porous concrete matrix, marrying Ca+ ions with CO2, and creating rock in the form of calcium carbonates (limestone).
Based in Halifax, Nova Scotia, CarbonCure is commercializing its construction products technology in fall 2012, with construction products market leaders in California (Basalite Concrete Products, LLC), Ontario (Atlas Concrete Products), and Nova Scotia (Shaw Group). These manufacturers offer LEED architects attractive and affordable design options with “simply better concrete” for green building masonry projects.
For more information contact:
Jamie James, President
T 416.736.2105 or 416.986.8401