Investment will accelerate sales and expand CO2 utilization technology platform.
HALIFAX — CarbonCure Technologies Inc has closed a $3 million Series C investment round, led by advanced materials venture capital firm Pangaea Ventures.
The investment will be used to accelerate sales in the concrete masonry sector, and expand CarbonCure’s CO2 utilization technology platform into the ready mixed concrete sector.
The Halifax-based green technology company that serves concrete sector has developed a retrofit technology that reuses waste carbon dioxide during the concrete production process. The technology contributes to green building certifications such as LEED by issuing Environmental and Health Product Declarations.
CarbonCure’s technology is used to make concrete from producers including A. Jandris & Sons, Anchor, Basalite Concrete Products, Brampton Brick, Ernest Maier, Mutual Materials, Northfield Block, Oneonta Block, Permacon, Shaw Brick, and Snyder Brick & Block.
Vancouver-based Pangaea invests in companies working to solve problems in the energy, electronics, health and sustainability sectors.