Concrete Has a Climate Problem. CarbonBuilt Grabs $10 Million to Help Solve It
Harri is dot.LA's senior finance reporter. She previously worked for Gizmodo, Fast Company, VentureBeat and Flipboard. Find her on Twitter and send tips on L.A. startups and venture capital to email@example.com.
Concrete is everywhere because it's versatile.
It's used in everything from Earth's "worst architectural eyesores" to Rome's beloved Pantheon, as the BBC laid out in a 2018 story on the material. But the production of cement poses a huge threat to the climate. It's currently responsible for a whopping 8% of global carbon emissions.
Some companies aim to chip away at this problem by swapping in other materials such as limestone. Another strategy is to trap captured carbon emissions inside concrete.
Los Angeles-based CarbonBuilt aims to profitably do both. CarbonBuilt announced Wednesday that it's raised $10 million to grow its team and further develop its tech, which the company calls "Reversa."
"A single concrete block produced using the Reversa platform is able to permanently store about ¾ of a pound of carbon dioxide," the company said in a press release. "Combined with CarbonBuilt's best-in-class economics and scalability, Reversa accelerates humanity's path towards gigatonne-scale carbon removal and even larger emissions reductions."The deal was led by the Grantham Environmental Trust's investment fund. Other participating investors include Hyatt Hotel heir Tony Pritzker, Boston-based Lime Street Ventures and San Francisco-based Climate Capital.
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