Low Carbon Building Materials Startup Terra CO2 Raises $46M, Backed by Bill Gates’ Breakthrough Energy
Sustainable building materials startup Terra CO2 Technology announced today that it has raised $46 million, with proceeds aimed at accelerating the commercialization of its low carbon alternative material for cement production.
Terra’s solution aims to help address one of the most difficult greenhouse gas emissions reduction issues. Cement is a key ingredient in concrete, and its production accounts for approximately 8% of global carbon dioxide emissions, with over 900 kg of CO2 emissions generated for every 1000 kg of material produced.
The company’s technology enables the production of concrete utilizing cementitious materials from a wide variety of abundant local feedstocks and even waste products, resulting in a 70% lower emissions footprint than the cement it replaces.
Bill Yearsley, President and CEO at Terra CO2, said:
“Scalable, easily available, and cheap feedstocks are essential for any new product looking to bring more environmentally friendly cost-competitive solutions to this market. Most of the alternatives to Portland cement being tested today are limited by using one specific feedstock that is often not widely available near urban markets or that requires permitting new mines to source. Terra’s solutions not only solve for that scalability bottleneck, but also offer an alternative that is cost-effective.”
The funding round was led by Bill Gates-founded net zero solutions-focused Breakthrough Energy Ventures (BEV), and home builder Lennar’s investment fund LENx. BEV also participated in Terra’s seed funding round in 2020.
BEV member Carmichael Roberts said:
“Cement production is one of the largest contributors to carbon emissions globally, presenting an immediate need for a high-quality, low-CO2 alternative that won’t disrupt our supply chains or current infrastructures. Terra’s technology has unlocked just that, creating a new method of production that will deliver more sustainable alternative cement without compromising performance or quality.”