July 13, 2023

Carbon Upcycling Technologies US$26 million Series A Financing led by BDC and Climate Investment

Goodmans LLP acted for Carbon Upcycling Technologies (CUT) on the closing of their US$26 million Series A financing led by BDC and Climate Investment (CI) to deploy its carbon capture and utilization (CCU) tech at cement plants in North America and Europe.

Founded in 2014 by CEO Apoorv Sinha, Carbon Upcycling’s CCU solution combines carbon dioxide with local industrial byproducts and natural materials to transform them into “high-performance” alternative materials for cement and concrete. This round brings CUT’s total funding to US$52.55 million , including $32.25 million in investment and $20.3 million in grants.

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