Fortera, a materials technology company, announced that it has secured to raise $85 million in Series C funding for scaling the development of its low-carbon cement technology that integrates with existing infrastructure.
The funding round involved participation from investors such as Khosla Ventures and Temasek, who are previous investors.
Apart from them, it also included first-time investments from Wollemi Capital, NOVA by Saint-Gobain, Presidio Ventures, and Alumni Ventures.
The company’s Redding ReCarb Plant is now in operation, positioning Fortera to proceed with establishing more plants that will manufacture ReAct green cement. This type of cement produces 70% less carbon dioxide (CO2 ) per ton than regular cement.
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Ryan Gilliam, CEO and co-founder of Fortera, said, “Due to the scale of the industry, we won’t impact emissions unless we have an economic pathway to expand globally. With the launch of our first plant and the close of this funding round, we’re entering into the next phase of our development as a commercial project company to accelerate low-to-zero-carbon cement deployment. “Â
He added, “It’s vital to have the financial means to put operations in place to commercialize our technology, and we are honored to have the backing and expertise of some of the most knowledgeable investment firms in project finance and the cement and concrete industry as we carve the path to zero CO2 cement.”
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Fortera’s ReCarb process integrates with existing cement manufacturing infrastructure to capture CO2 emissions and convert them into a mineral form, producing low-carbon cement.
This approach utilizes established feedstocks, capital investments, logistics, and sales networks, facilitating a more efficient and cost-effective path to widespread adoption.
Additionally, the process operates at reduced kiln temperatures and can incorporate renewable energy, contributing to lower emissions and enabling the production of zero-CO2 cement.
