Fasken advised BDC Capital’s Climate Tech Fund and Climate Investment as co-lead investors in the recent Series A financing for Carbon Upcycling Technologies, a Calgary-based leader in circular decarbonization solutions for hard-to-abate sectors, including cement, steel, and mining.
This funding will be utilized to deploy multiple commercial projects, including two co-located directly at cement plants in North America and Europe. Projects will continue to validate the cost-effectiveness of Carbon Upcycling’s all-electric solution that mineralizes CO2 emissions from industrial facilities and upcycles industrial byproducts into materials that reduce the carbon footprint of cement and concrete.
The financing included strong participation from existing financial investors, Clean Energy Ventures, its angel investor collective CEVG, Amplify Capital, and strategic investors, Oxy Low Carbon Ventures, CRH Ventures, and Cemex Ventures.
A Fasken team composed of Anne-Marie Naud, Frédéric St-Jean, Ali Aziez advised BDC Capital’s Climate Tech Fund and Climate Investment in connection with this transaction.
Jurisdiction
- Québec
