Carbon Upcycling Technologies has secured up to US$10m in asset-secured financing from ATEL Ventures. This strategic agreement marks a major commercial milestone, reinforcing the financial viability of the company’s low-carbon cement technology.
The funding will accelerate Carbon Upcycling’s flagship project at the Ash Grove Mississauga Cement plant. This facility will capture CO2 directly from cement kilns, sequestering it into industrial byproducts to create high-quality, low-carbon supplementary cementitious materials (SCMs). Once fully operational in late 2026, the plant is expected to produce 30,000t of SCMs annually.
Beyond immediate capital, the deal provides ATEL with an option for future equity investment. Suzy Taherian, CFO of Carbon Upcycling, emphasised that the partnership validates their technology's commercial readiness. By scaling this deployment, Carbon Upcycling aims to decarbonse the global construction supply chain while improving producer economics through sustainable infrastructure.
