Displaying items by tag: investor

US: Terra CO2 (Terra) has raised US$124.5m in series B equity funding, with co-leads Breakthrough Energy Ventures, Eagle Materials, GenZero and Just Climate, the round included investment from Barclays Climate Ventures. Additional strategic investors to join the round include Cemex and Siemens subsidiary Siemens Financial Services.

The capital will support the construction of Terra’s first 240,000t/yr advanced-processing facility in Dallas Fort Worth, expansion of its team and sites, and development of further commercial-scale cementitious projects.

CEO Bill Yearsley said “Terra's mandate is to deliver cementitious material solutions that the market would purchase solely based on cost and performance, even if there was no carbon benefit. The fact that Terra's cementitious materials also offer significant carbon mitigation is an additional advantage for the built environment.”

Terra produces supplementary cementitious materials as an alternative to traditional Portland cement, from resources like fly ash. Its second product, Opus Zero, is currently in the testing phase and would serve as a complete replacement for Portland cement.

Nigeria: Ebonyi State Governor Francis Nwifuru has established a 15-member committee to reactivate NIGERCEM, the country’s first locally-owned cement manufacturing company, located in Nkalagu.

He directed the committee to work with investors and shareholders to devise a plan for the immediate resumption of operations at the plant, which has been shut down for decades, and to submit its report within two weeks.

“Restoring the company was part of my campaign promise when I visited the area. I assured that the factory will be revived within my first tenure in office,” Nwifuru said.

Canada: Carbon Upcycling Technologies closed a US$18m investment round led by Builders Vision to support its carbon capture and utilisation project at the Ash Grove Mississauga cement plant and with Titan Group at two of its facilities. Strategic investors CRH Ventures, Oxy Low Carbon Ventures and Titan Group participated in the round.

Carbon Upcycling CEO Apoorv Sinha said “Builders Vision's investment, along with the continued support of our partners, is a powerful signal that the market is ready for scalable, science-based solutions like Carbon Upcycling. With the support of Builders Vision and our strategic partners, we are setting the foundation for low-carbon construction.”

Malaysia: The state government of Sabah has denied rumours that an investor has departed from the Tongod cement plant project. Industrial Development and Entrepreneurship Minister Datuk Phoong Jin Zhe told the Sabah State Legislative Assembly that Borneo Cement had confirmed that all parties involved in the project remain committed, according to the Star newspaper. He added that the project had received approval for earthworks but that construction work was waiting for the approval from an Environmental Impact Assessment report.

China-based Sinoma Industrial Engineering is preparing to build the 1.75Mt/yr plant. Two-thirds of the unit’s output is intended for the local market in Sabah. The rest will be exported. Ground-breaking work at the site was previously reported in April 2024. However, Borneo Cement subsequently faced accusations of unauthorised forest clearances later in the year.

US: Terra CO₂ has raised US$82m in Series B funding from investors including Eagle Materials, GenZero and Just Climate. The company will build its first commercial facility in Dallas-Fort Worth, Texas, in partnership with Asher Materials.

With the help of Eagle Materials, the company will establish multiple 240,000t/yr plants across North America. The US Department of Energy has also awarded Terra CO₂ with a grant of US$52.6m for a second commercial facility. The producer has begun concrete trials of its Opus Zero cement-free product, designed to completely replace ordinary Portland cement in concrete. It will complete a second funding round in the first quarter of 2025.

“This strategic funding from the world’s leading climate funds and industry partners validates our approach to practical cement decarbonisation at commercial scale,” said Bill Yearsley, CEO of Terra. “As we break ground on our first full-scale plant in Texas, their support enables us to accelerate deployment across North America and establish an early footprint in Europe.”

US: Fortera has raised US$85m in a funding round to increase its production of ‘low to zero-carbon’ cement, Bloomberg reports. New investors include Wollemi Capital, Saint-Gobain venture capital arm NOVA, Presidio Ventures and Alumni Ventures, alongside existing investors Khosla Ventures and Singapore state fund Temasek.

The startup, valued at US$355m, utilises a technology that captures CO₂ emissions from traditional cement production and converts them into a mineral form for low-carbon cement. Fortera's first industrial ‘green’ cement plant operates at CalPortland's facility in Redding, California.

Nigeria: Investor Femi Otedola has reported making a ‘significant acquisition’ of shares in Dangote Cement. The Premium Times newspaper has reported the value of the newly acquired shares as US$6.73m.

Femi Otedola said “Dangote Cement's unique position with two export terminals offers a substantial opportunity to earn foreign exchange, crucial for Nigeria's economy. This, along with the company's pan-African presence, makes it an ideal investment choice."

Iraq: Al-Diyar Al-Iraqia for Investments Company and Northern Region Cement have concluded a deal under which the former will acquire a 49% stake in the cement producer’s business in Iraq. Argaam News has reported the value of the deal as US$44m. Northern Region Cement said that the new strategic partnership would help it to further expand its investments in the promising market. It will use the proceeds of the deal to repay loans and for ‘external investments.’

Northern Region Cement plans to build a US$139m, 1.32Mt/yr integrated cement plant at an unspecified location in Iraq.

Switzerland: Reduced-CO₂ cement catalyst developer Nanogence has secured an undisclosed sum from a consortium of investors led by investment fund CirCap. Nanogence’s catalyst reduces the CO₂ emissions of cement production by 40%, without changing production processes. Tech EU News has reported that the catalyst is capable of increasing cement’s strength and durability compared with that of ordinary Portland cement (OPC) produced without it. Prior to the latest financial development, the company had raised US$2.7m-worth of funding.

CEO Abhishek Kumar said “We are excited to receive the support from incoming renowned investors in this essential journey to accelerate the transition towards a low carbon built world. With growing demand worldwide, we need to align with like-minded strong backers for our growth phase.”

Libya: Representatives of China-based Senomaly carried out feasibility assessments to investigate the possibility of restarting the Mahrouga cement plant near Sebha in late August 2023. The Libya Herald newspaper has reported that National Mining Corporation hosted the delegation at the mothballed plant.

Chinese president Xi Jinping directly instructed Chinese businesses to return to Libya on 27 August 2023.