Thursday, October 7, 2021

CarbonBuilt Picks Up $10M For Low Carbon Concrete

Los Angeles-based CarbonBuilt, a startup developing "low-carbon" concrete technology, said yesterday that it raised $10M in its Series A funding round. The funding was led by Grantham Environmental Trust’s Neglected Climate Opportunities, with participation from Tony Pritzker, Lime Street Ventures, Climate Capital, YouWeb IV: Impact, Foundamental and others. CarbonBuilt is led by CEO Rahul Shendure. The company said it is developing technology which takes dilute carbon dioxide streams from hard-to-decarbonize industrial sources or direct air capture systems to efficiently and cost-effectively cure precast concrete. The company said it is initially focused on the concrete masonry market. CarbonBuilt explains that producing a concrete block using its platform stores about 3/4 pound of carbon dioxide. The production of concrete generates approximately 8 percent of the world's CO2 emissions.