Our member Carbon Upcycling has finalised a financing agreement with ATEL Ventures for up to $10 million USD. This capital injection is designated to support the deployment of the company’s first flagship commercial Carbon Capture and Utilisation (CCU) project at the Ash Grove Mississauga Cement Plant in Ontario.
The project represents a significant step in the commercialisation of technologies designed to decarbonise the hard-to-abate cement industry, which currently accounts for approximately 8% of global CO₂ emissions.
Advancing to Commercial Readiness
The financing marks Carbon Upcycling’s transition from pilot-scale validation to industrial-grade operations. By leveraging its patented CCU technology, the company sequesters CO₂ emissions directly from cement kilns and integrates the captured gas with locally sourced industrial byproducts.
This process creates enhanced supplementary cementitious materials (SCMs) that partially replace traditional cement in concrete. The resulting materials not only reduce the overall carbon footprint of construction projects but also improve the economic efficiency for producers by utilising industrial waste streams.
Impact and Operations
The Mississauga facility is expected to begin operations during the second half of 2026. Once at full capacity, the plant is projected to produce up to 30,000 tonnes of low-carbon cement alternatives annually.
This development follows a recent leadership transition, with Markus Kritzler stepping into the CEO role, and builds upon an $18-million USD investment secured in late 2025. The steady influx of capital highlights increasing institutional confidence in CCU solutions that provide both environmental impact and supply chain resilience.
Resources
Read more about the project here.
