Monterey.- Cemex Ventures, the corporate venture capital and open innovation unit of Cemex, has invested in Carbon Upcycling Technologies, a Canadian start-up and global leader in the development of milling and carbon utilization technologies for the cement industry.
According to a statement, Carbon Upcycling’s proprietary solution introduces carbon into a process of grinding industrial waste such as slag and fly ash to produce a more reactive supplementary cementitious material. These materials can be used as a substitute for clinker in cement production.
Cemex stated that the cements and concretes added in this process can achieve a CO2 reduction of up to 30 percent.
“Our investment in carbon upcycling enables us to leverage the use of CO2 in building materials and turn industrial waste into sustainable resources for building materials. This is another step in our roadmap to decarbonize the cement manufacturing process and achieve carbon neutrality by 2050,” said Gonzalo Galindo, Director of Cemex Ventures.
“We continue to expand our investment portfolio in green construction and look for new technologies to create a more sustainable industry,” he added.
Cemex’s investment will facilitate the further development and viability of the carbon upcycling technology and business model to reduce the dependency on clinker in cement production. It will also fund the rollout of its commercial CO2 utilization solution at cement plants in North America, Europe and Asia.
“We are grateful for Cemex’s continued support on our journey to decarbonize the cement industry,” said Apoorv Sinha, CEO of Carbon Upcycling.