Under the agreement, the financing is secured by Carbon Upcycling’s assets, and ATEL receives an option to make a future investment in the company.

We will work with Holcim and Amazon to test, validate, and scale our low-carbon supplementary cementitious materials (SCMs) in real-world applications.

Since joining Carbon Upcycling in spring 2025 as Chief Revenue Officer, Markus has led the development of the company’s project pipeline and guided the company as it constructs its flagship commercial project. He succeeds co-founder Apoorv Sinha who assumes the role of President, focusing on investor engagement, external relations, technology development and the advancement of the company’s long-term strategy and direction.

Since joining Carbon Upcycling in spring 2025 as Chief Revenue Officer, Markus has led the development of the company’s project pipeline and guided the company as it constructs its flagship commercial project. He succeeds co-founder Apoorv Sinha who assumes the role of President, focusing on investor engagement, external relations, technology development and the advancement of the company’s long-term strategy and direction.

2026 marks the third year Carbon Upcycling has made the list. The recognition reflects progress made with our partners to advance large-scale projects across North America, starting with our first-of-its-kind project with Ash Grove Cement Company.

The project will use Carbon Upcycling’s patented technology to permanently sequester CO₂ from the cement kiln and utilize it to transform locally produced industrial byproducts into high-quality, low-carbon supplementary cementitious materials (SCMs). Once operational in 2026, the facility will have the capacity to produce up to 30,000 tonnes of SCMs annually, directly contributing to Canada’s climate and clean manufacturing goals.

‘Stamp of approval’: Calgary-based company wins global climate solutions prize. Calgary’s Carbon Upcycling turns industrial waste byproducts into materials for cement production — over the years, it has amassed US$70 million in funding.

The investment round garnered follow-on participation from a strong contingent of existing investors, including Business Development Bank of Canada, Climate Investment, Amplify Capital, and strategic investors CRH Ventures, Oxy Low Carbon Ventures, and TITAN Group. The continued participation of returning investors underscores the growing confidence in Carbon Upcycling’s commercial readiness and role in manufacturing localized, low-carbon building materials.

Carbon Upcycling and TITAN Group have entered into a Memorandum of Agreement (MOA) to explore the commercial deployment of Carbon Upcycling’s technology for producing local, low-carbon building materials.

“Carbon upcycling is a fabulous example of Canadian innovation where they’re taking a waste product from the fossil fuel industry, CO2, and they’re turning it into a product that is absorbed and used in cement,” said Merran Smith, president of New Economy Canada.

Today Elemental Impact, a leading non-profit climate technology investor, announced the 2024 “Build Better Innovation Challenge” winners. In collaboration with Microsoft, Capgemini, and Bouygues, the innovation challenge was designed to fund pilots for companies driving innovations in construction materials and processes.

Carbon Upcycling’s CO2-enhanced mix achieved a 12.5% reduction in cement content while matching the workability of traditional concrete, allowing seamless handling, placement, and setting times for construction crews.

The Calgary-based company recently raised a $34.3 million Series A funding round co-led by BDC Capital’s Climate Tech Fund and Climate Investment to reshape how heavy industry approaches carbon emissions.

Forbes – Carbon Upcycling is one of the companies working through the steps required to develop low-emissions cement.

Juliane brings over 20 years of leadership experience in the energy and infrastructure sectors to Carbon Upcycling. She has held senior roles across both established and growth-oriented energy companies, most recently serving as Director of Western Canada Development at Capstone Infrastructure Corporation and Chief Operating Officer at Genalta Power Inc.

By partnering with international cement producers like CRH and Cemex, Carbon Upcycling is tackling industry-wide challenges and driving sustainability initiatives. These relationships are aimed to develop and implement technologies that significantly reduce carbon emissions in cement production.

This prestigious recognition underscores Carbon Upcycling’s ongoing commitment to meeting rigorous standards of social and environmental performance, transparency, and accountability and deep commitment to being a powerful force for good.

This recognition places us among 100 groundbreaking companies and the only one from Canada chosen for our potential to address the world’s most pressing challenges. Being named a Technology Pioneer is a tremendous honour, reflecting our commitment to innovation and sustainability in carbon capture and utilization.