Innovobot Announces Investment in Montreal-Based Carbicrete
The commitment adds a cleantech firm to Innovobot’s expanding and diverse portfolio
Montreal, April 6, 2018 — Innovobot today announced that it has made a lead investment in Carbicrete, a Montreal-based company commercializing a technology that enables the production of cement-free, carbon-negative concrete. With this direct commitment, Innovobot adds a cleantech company to its diversified portfolio.
“We are very pleased to be an anchor investor in Carbicrete,” said Innovobot partner Mario Venditti. “We believe the process that Carbicrete is commercializing has the potential to be truly game-changing, and we look forward to actively working with Carbicrete to accelerate their growth.”
Carbicrete’s unique technology completely eliminates the need for cement in the production of precast concrete. The company is currently a semi-finalist in the $20M NRG COSIA Carbon XPRIZE, a four-and-a-half-year global competition challenging teams to transform the way the world addresses CO2 emissions with breakthrough circular carbon technologies that convert carbon dioxide emissions from power plants into valuable products.
“We are excited to have Innovobot as one of our lead investors,” says Chris Stern, Carbicrete’s CEO. “The team’s vast operational experience and the commitment they’ve shown to working hand-in-hand with our company’s management team will make for a very successful partnership.”
Carbicrete is a Montreal-based cleantech company that develops innovative, low-cost building solutions that contribute to the reduction of greenhouse gas emissions. Carbicrete’s patent-pending technology enables the production of cement-free, carbon-negative concrete using industrial by-products and captured CO2. The company offers concrete manufacturers the process, materials and support to make lower-cost, higher-quality precast concrete in a way that reduces their carbon footprint. carbicrete.com
Innovobot provides growth capital investment in scalable, technology-driven companies. In addition to investing capital, the firm takes an active role in building business infrastructure through its multi-functional team of experts in sales and marketing, product and service development, and operations and supply chain optimization. innovobot.com