CarbonCure Technologies Inc., a green technology company serving the concrete sector, has closed a $3 million Series C investment round. The oversubscribed round was led by Pangaea Ventures, a world leader in advanced materials venture capital. The investment will be used to accelerate sales in the concrete masonry sector, and expand CarbonCure’s CO2 utilization technology platform into the ready mixed concrete sector.
Pangaea is joined by investors from the previous investment rounds including BDC Capital, as well as several new strategic investors from the construction, clean technology and industrial gas industries, including Power Generations Inc., a Florida-based cleantech investment fund.
Investors from previous rounds are pleased with the ongoing growth the company is enjoying. “We continue to be impressed with CarbonCure’s progress creating value for concrete producers, architects and builders; now is the time for rapid commercial rollout, which this funding round will fuel,” said Tony Van Bommel, Partner at BDC Capital.
Pangaea invests in high-growth companies utilizing advanced materials technology to solve critical global challenges. “Pangaea has been following CarbonCure for several years now and we are delighted to now be partnered with this industry leading team. With a scalable, capital efficient business model and attractive customer economics, we see no reason why the company’s technology won’t be ubiquitous in the industry within a few years,” said Andrew Haughian, Partner with Pangaea Ventures.
About Pangaea Ventures
Pangaea Ventures is a Vancouver-based venture capital firm that invests in companies solving global problems in the fields of the energy, electronics, health and sustainability. Pangaea aims to make the world a better place by investing in highly innovative entrepreneurs, operating lean, capital-efficient businesses enabled by breakthroughs in advanced materials. They are focused on maximizing the value delivered to partners, investors, and portfolio companies, while maintaining the highest standard of integrity. For more information, please visit www.pangaeaventures.com.
About Power Generations, Inc.
Power Generations, Inc. is an early-stage cleantech-focused investment group based in Hillsboro Beach, Florida. The group invests in cleantech companies with disruptive technologies that have the potential for expediential growth and strong ROI. Power Generations limits its funding to companies that have demonstrated an ability to have a positive impact on the earth’s environment, create green jobs and further US energy independence. Power Generations, Inc. launched its fund in 2015 with a primary focus on investing in carbon capture and sequestration technologies. Additional areas of interest include hydroponics, solar, wind, energy efficiency, energy storage and biofuels. For more information, please visit http://www.powergenerationsinc.com/.
About BDC Capital
A subsidiary of the Business Development Bank of Canada (BDC), BDC Capital offers a full spectrum of specialized financing and investment solutions to help Canadian entrepreneurs achieve their full growth potential. With more than $1.6 billion under management, BDC Capital takes a strategic, patient approach to nurture companies’ development over the long term. From venture capital and equity, to growth and transition capital, our team of over 100 experienced, local professionals partner with entrepreneurs to identify and meet their needs on flexible terms. Some of the sectors in which we specialize include IT, industrial/clean/energy technology, and healthcare. For more information, please visit www.bdccapital.ca or follow us on Twitter at @BDC_Capital.