Purpose ESG Holdings Inc., an investment issuer building a portfolio of technology companies that support environmental, social, and governance (ESG) outcomes, is announcing its investment in Carbon Upcycling Technologies.

See related article: Purpose ESG Names Former CEO of DaimlerChrysler Canada as Chairman of the Board of Directors

Carbon Upcycling is headquartered in Calgary, Alberta, and is focused on converting CO² into advanced additives, primarily for use in concrete. It also produces complementary additives that can be used in plastics manufacturing, coatings, and consumer products.

A 2022 report from Deutsche Welle (DW) reported that the cement and concrete industry is responsible for 8% of total CO² emissions worldwide.

“Carbon Upcycling has developed technology that is able to significantly reduce the negative environmental impact of concrete production by sequestering CO² into cement alternatives. This has the added benefits of reducing the volume of cement required, while also strengthening the resulting concrete,” said Young Bann, CEO of Purpose ESG. “This is a win-win solution for the industry which can help it to meet the aggressive abatement targets that have been set for it by associations and governments.”

Carbon Upcycling offers a unique, single-step, low-energy solution that lowers carbon emissions from concrete by at least 10%, improves concrete durability by over 60%, and offers better protection for rebar.

“Scaling carbon-to-value (C2V) innovation will play a critical role in the decarbonization of our economy,” said Apoorv Sinha, CEO of Carbon Upcycling. “We are targeting emissions at the source by capturing CO² emitted directly from the cement production kilns while contributing to the development of more robust, local supply chains.”

Carbon Upcycling has a patented carbon utilization technology and has already begun achieving significant commercial success, having deployed over 1,600 tonnes of its low carbon concrete additives into the market. It has signed memorandums of understanding (MOUs) with three of the world’s largest cement companies, including Lafarge Holcim and CEMEX, and has also been awarded over CA$11M in grants from national and provincial institutions such as National Resources Canada and Emissions Reduction Alberta.

Carbon Upcycling announced on April 21, 2022, that it secured a total of US$6.15m in financing from a national syndicate of Clean Tech investment companies including Purpose ESG.

Sign up for updates from Purpose ESG: ​​https://purposeesg.com/

Source: Purpose ESG Holdings Inc.