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Business Wire
02-07-2025
- Business
- Business Wire
Terra CO2 Announces Additional Series B Funding to Scale Sustainable Cement Production
GOLDEN, Colo.--(BUSINESS WIRE)--Terra CO2 (Terra), a leading US-based low-carbon building materials company, today announced their series B funding, securing US$124.5M in new equity capital. In addition to the Series B co-leads Breakthrough Energy Ventures, Eagle Materials, GenZero, and Just Climate, the round included major investment from Barclays Climate Ventures. Additional strategic investors to join the round include Prologis, the global logistics leader, Cemex, an international leader in construction materials, and Siemens Financial Services, the financing arm of global technology company Siemens. In addition to the equity raise, Silicon Valley Bank, a division of First Citizens Bank, and Stifel Bank co-led the provision of a credit facility furnishing Terra additional financial flexibility. '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," says Terra CEO Bill Yearsley. Share As government funding and subsidies for climate initiatives decrease in the US, it's imperative that these solutions provide cost competitive advantages that can work within existing industries and infrastructures. Terra's SCM provides a commercial deployment ready solution that is not dependent on subsidies, providing both investors and partners with the certainty they need. With the new capital, Terra will be rapidly moving forward with its first 240,000 TPY commercial advanced-processing facility in the Dallas-Fort Worth market. The funding will also support expanding Terra's offices and industrial facilities, significantly growing the team, developing more shovel ready commercial projects, and further advancing new generations of cementitious products. '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,' says Terra CEO Bill Yearsley. 'Terra's technology offers a combination of commercial readiness and cost competitiveness. Its ability to support the decarbonization of a heavy industry such as cement aligns with our commitment to support scalable, near-term solutions in hard-to-abate sectors,' says Steven Poulter, Head of Barclays Climate Ventures. Terra's patented Supplementary Cementitious Materials (SCMs) process produces a high-performing, low-cost alternative to Portland Cement and depleted traditional resources such as fly ash. And unlike other low-carbon SCMs, Terra's OPUS products utilize inexpensive, abundant, and local feedstocks from existing aggregate mines, and work within existing industry infrastructure. This approach enables immediate deployment at scale, delivering cementitious materials that perform equal to or better than historical SCM while significantly reducing carbon emissions. Terra's second product, OPUS Zero, is currently in active concrete trials and would serve as a full Portland cement replacement. About Terra CO2 (Terra) Terra enables our partners to unlock low-carbon cement from source to deployment. As the critical component in creating concrete, the foundation of modern infrastructure, cement is responsible for 8% of the world's CO 2 emissions. The CO 2 and NO x emissions associated with cement make finding an alternative to current solutions a climate imperative. Unique to Terra is their capability to work across a diverse range of silicate rock mineralogy, not constrained by feedstock availability. Terra's technology allows the company to create sustainable construction materials with the most abundant and accessible raw materials on earth from already approved and open mines. Terra's first product, OPUS SCM (Supplementary Cementitious Material), is ready for commercial deployment, capable of replacing up to 50% OPC (Original Portland Cement) and addressing the industry's carbon emissions and dwindling feedstock challenges. Terra's OPUS ZERO™, a potential 100% replacement of OPC, is in full concrete trials. Both leverage Terra's "drop-in" reactor solution, which seamlessly integrates with existing infrastructure and sets the foundation for the transition to real zero cement. Validated by third parties, Terra's materials perform equal to or better than traditional cementitious products.
Yahoo
03-06-2025
- Business
- Yahoo
Barclays mobilized over $687M in climate tech investments since 2020: report
This story was originally published on ESG Dive. To receive daily news and insights, subscribe to our free daily ESG Dive newsletter. Barclays' climate investment arm has enabled 508 million pounds (nearly $687 million) in investments focused on climate technology and innovation since 2020, the British bank said in its latest impact report Monday. This figure includes Barclays Climate Ventures financing 203 million pounds (around $274 million) of the bank's own equity and facilitating a further 305 million pounds (around $412 million) through third-party investments, per the bank. Barclays said it led or co-led 61% of the funding rounds it participated in, and every one pound invested through Barclays Climate Ventures unlocked an additional 2.18 pounds from third parties. The fund has a mandate to invest half a billion pounds into equity capital in climate tech startups between 2020-2027. The London-based bank said the investments will help 'address a systematic growth-stage financing gap' that is often associated with developing climate tech companies. Steven Poulter, head of Barclays Climate Ventures, called climate tech 'key to delivering the next generation energy system,' in a June 2 release, adding that it helps address climate change while 'supporting a successful and growing economy with affordable and resilient energy.' 'New climate tech is needed to improve the resiliency of the energy grid, increase energy efficiency, and diversify energy supply, including the provision of alternative energy sources for sectors of the economy where energy demand can't viably be met through electrification, such as aviation,' Poulter said. Since launching in 2020, Barclays Climate Ventures has backed over 20 companies focused on climate innovation, as of December 2024. The subsidiary has supported a wide range of climate tech solutions through its investments, including long-duration energy storage, hydrogen and carbon management technologies, according to its website. Barclays impact report said the bank prioritizes investments in technologies that are both commercially scalable and can help unlock the clean energy transition for high emitting sectors, especially those where Barclays has substantial client exposure. These sectors include energy and power, real estate and food and agriculture. In addition to financial backing, the bank gives early and growth stage startups access to its in-house climate tech escalator, which helps climate tech companies develop their product and scale in size by offering them dedicated, customized support. Such support includes counseling from Barclays board members; advice from senior bankers, policy experts and sector specialists; access to the bank's client base and exposure through events, marketing platforms and communications. Barclays' impact report comes shortly after its Group Head of Sustainability Laura Barlow stepped down from her role in January. At the time, a Barclays spokesperson told ESG Dive that Barlow would remain with the bank in the capacity of a senior adviser while her responsibilities would be taken on by Daniel Hanna, who serves as Barclays' Group Head of Sustainable and Transition Finance. The restructuring came against a backdrop of banks and financial institutions facing heightened scrutiny over their sustainability efforts, particularly in the U.S. Recommended Reading Barclays' head of sustainability steps down as sector scrutiny heats up Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
