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Calgary, Canada — Carbon Upcycling Technologies has secured $18 million in new funding to accelerate the deployment of its carbon capture and utilization (CCU) technology for the cement industry. The investment round was led by Builders Vision, an impact-driven investment platform founded by Lukas Walton, and includes continued backing from major industry players and institutional investors.
The capital will support the scale-up of Carbon Upcycling’s proprietary process, which transforms captured CO₂ and industrial by-products into supplementary cementitious materials (SCMs) — low-carbon alternatives that reduce emissions and strengthen supply chains within the construction sector.
The company is currently advancing a flagship deployment at the Ash Grove Cement plant in Mississauga, Ontario, and recently announced a new collaboration with TITAN Group to explore technology integration at two of its production sites.
“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,” said Apoorv Sinha, CEO of Carbon Upcycling. “With their support, we are setting the foundation for low-carbon construction, demonstrating that it is not just possible — but practical, profitable, and available today.”
Other participants in the funding round include CRH Ventures, Oxy Low Carbon Ventures, TITAN Group, Climate Investment, Business Development Bank of Canada (BDC), and Amplify Capital — underscoring sustained investor confidence in Carbon Upcycling’s commercial readiness and global potential.
Carbon Upcycling’s technology works by mineralizing captured CO₂ with locally available industrial waste — such as fly ash or steel slag — to create high-performance SCMs that can replace a portion of traditional Portland cement in concrete. The result is a meaningful reduction in carbon emissions, while also improving circularity and reducing the need for imported materials.
“Carbon Upcycling is redefining what’s possible in industrial decarbonization by turning waste and emissions into valuable, scalable materials,” said James Lindsay, Investment Director at Builders Vision. “Their technology integrates quickly into existing production systems and adapts to a wide range of local feedstocks — that’s exactly what the market needs.”
With this new round of funding, Carbon Upcycling is poised to expand its footprint across key global markets and lead the shift toward resilient, low-carbon building materials — a transition seen as vital to meeting international climate targets in the hard-to-abate cement sector.
