#Canada #Calgary #Carbon Upcycling #Clean Cement #ATEL Ventures

Carbon Upcycling Secures Significant Funding for Clean Cement Manufacturing

In a noteworthy development, Carbon Upcycling Technologies, a frontrunner in providing low-carbon cement materials, has announced a crucial financial agreement. The company has entered into a partnership with ATEL Ventures, acquiring up to $10 million in asset-secured financing. This strategic move marks a pivotal moment in Carbon Upcycling's journey toward commercializing its groundbreaking technology, emphasizing the importance of financial stability in advancing its clean manufacturing initiatives.

The funding will primarily support Carbon Upcycling's flagship venture at the Ash Grove Mississauga Cement Plant. This innovative project aims to permanently sequester CO₂ emissions generated from the cement kiln. By utilizing local industrial byproducts, the initiative will transform these materials into high-quality, low-carbon supplementary cementitious materials (SCMs), contributing significantly to the construction supply chain in the region. The facility is projected to produce up to 30,000 tonnes of SCMs annually, bolstering local economies and promoting sustainable construction practices.

Suzy Taherian, CFO of Carbon Upcycling, expressed her enthusiasm about the partnership with ATEL, stating, "This collaboration signifies that Carbon Upcycling's technology has reached a new level of commercial readiness. Adhering to capital discipline is essential as we work towards building a new generation of clean industrial infrastructure. This agreement not only provides necessary financing but also aligns our assets effectively, allowing us to progress with our first commercial project and set the stage for scalable growth."

Under the terms of the agreement, the financing is secured by Carbon Upcycling's assets, which will enable ATEL Ventures to consider potential future investments in the company. Sam Cash, Vice President of ATEL Ventures, commented on the significance of this partnership, highlighting that Carbon Upcycling embodies the type of innovative technology they aim to support within the venture capital space. He stated, "Their platform effectively converts industrial byproducts and sequestered CO₂ into valuable cement materials, enhancing economic viability for producers and reinforcing essential construction supply chains. We are excited to back the company as they launch their first commercial endeavor and look forward to witnessing the scalability of this technology across global industrial infrastructures."

With operations slated to commence in the latter half of 2026, the new financing solidifies Carbon Upcycling's foundational commercial strategy. The company is positioned to lead the charge in localizing clean cement manufacturing practices within North America and beyond, ultimately driving the transformation toward low-carbon infrastructures.

About Carbon Upcycling

Carbon Upcycling stands at the forefront of advancing cement manufacturing in response to emerging environmental demands. The company's platform technology innovatively converts industrial byproducts and CO₂ emissions into premium cement materials, fostering sustainable pathways that strengthen local supply chains, encourage industrial onshoring, and facilitate a transition to environmentally responsible infrastructure.

Supported by a diverse group of strategic investors, including Builders Vision, the Business Development Bank of Canada, Climate Investment, Oxy Low-Carbon Ventures, Amplify Capital, and Clean Energy Ventures, along with three of the industry's leading cement manufacturers—CRH Ventures, Cemex Ventures, and TITAN Group—Carbon Upcycling has garnered recognition for its innovative approach. The company has been celebrated as a three-time Global Cleantech 100 member, a Reuters 100 Innovators Leading the Energy Transition, and has received the prestigious Keeling Curve Prize.

For further details and updates, visit Carbon Upcycling's official website.

About ATEL Ventures

ATEL Ventures specializes in providing growth capital and equipment financing solutions to innovative startups backed by top-tier venture capital firms. The firm’s venture loans empower startups to attain critical milestones and growth objectives while preserving equity. As part of the ATEL Capital Group, a private credit firm that has supported over 1,000 businesses worldwide, ATEL Ventures continues to foster enduring partnerships within the entrepreneurial ecosystem.

To learn more, visit ATEL's website.