Carbicrete is a Montreal-based cleantech firm commercializing a carbon-negative process for the production of precast concrete
Montreal, December 10, 2019 — The Environmental division of Harsco Corporation (NYSE: HSC) has made a $3M investment into Carbicrete, an Innovobot portfolio company.
Harsco’s investment is in conjunction with a $2.1M grant awarded to Carbicrete by Sustainable Development Technology Canada (SDTC) to finance a demonstration program supported by a development consortium which includes a commercial concrete block manufacturer.
Innovobot made a lead investment in the Montreal-based cleantech firm in 2018.
“This timely investment will help meet Carbicrete’s evolving capital needs as the company brings its breakthrough technology to market,” says Innovobot CEO, Mario Venditti.
Carbicrete is commercializing a carbon-negative process for the production of precast concrete. The company’s technology replaces cement in the concrete mix with steel slag and cures it with carbon dioxide, avoiding the GHG emissions associated with cement production, while permanently sequestering CO2 within the resulting concrete products.
“We are tremendously pleased to have Harsco among our key investors,” says Chris Stern, Carbicrete’s CEO. “Harsco Environmental’s world-leading materials processing experience and commitment to clean technology make them an ideal partner as we work toward bringing a cost-effective, cement-free concrete solution to the global construction industry.”
Innovobot is an investment and advisory services firm growing a global innovation ecosystem based in Canada to generate value and well-being for entrepreneurs, investors, and society. The Fund invests in technology companies that make a positive social and environmental impact. innovobot.com
Carbicrete is a Montreal-based cleantech company developing innovative, low-cost building solutions that contribute to the reduction of greenhouse gas emissions. Carbicrete’s breakthrough patented technology enables the production of cement-free, carbon-negative concrete made with industrial by-products and captured carbon dioxide. Carbicrete.com