Carbon Upcycling named to the 2024 Global Cleantech 100
CALGARY, AB, Jan. 22, 2024 /PRNewswire/ - Carbon Upcycling Technologies Inc. (Carbon Upcycling), a global leader in carbon capture and utilization, has been named to Cleantech Group's 2024 Global Cleantech 100. The report selected companies from more than 25,000 nominations to showcase innovators with the most outstanding technologies, original business models, and bold plans that can enable us to act on the ever-increasing climate crisis and reduce emissions drastically ahead of critical global climate targets.
The cement industry accounts for approximately 7% of all global emissions. To achieve looming 2030 climate targets and transition to a net zero future, decarbonizing cement production is vital. Carbon Upcycling's platform technology produces supplementary cementitious materials (SCM) by upcycling waste materials from other industries like steel and mining and enhancing them with CO2 sequestered from the cement kiln. Its enhanced SCM can displace carbon-intensive clinker in cement – reducing the lifecycle carbon intensity of cement by up to 60% – while improving the strength and durability of concrete by up to 40%.
The company's commercial-scale technology is currently operating in Western Canada, with two more deployments in commission at cement plants in Eastern Canada and the United Kingdom. Carbon Upcycling's technology is a readily scalable carbon removal and avoidance solution for the nearly 3,500 cement plants around the world that serve as the central hubs of the modern building materials industry.
"We're honored to be named to the 2024 Global Cleantech 100 for the second consecutive year," said Apoorv Sinha, CEO of Carbon Upcycling. "The cement and concrete industry require decarbonization solutions at a pace and scale that achieve critical 2030 climate targets. Making the Global Cleantech 100 is a testament to the rapid technology scaleup and deployment that we have achieved to date, the cement industry partners we have engaged, and the syndicate of investors supporting our team."
"These innovative companies are driving positive change and are at the forefront of enabling the global transition to a more sustainable future," said Richard Youngman, CEO, Cleantech Group. "The Global Cleantech 100 is a recognition of the market's positive view on their progress to date and their potential impact in building a cleaner, decarbonized world."
2024 Global Cleantech 100 honorees will be recognized at the upcoming Cleantech Forum North America on January 22-24 in San Diego, CA.
Carbon Upcycling is a circular decarbonization solution for hard-to-abate industries – transforming CO2 into a resource for a sustainable future. Its patented technology upcycles industrial byproducts and CO2 emissions into enhanced alternative materials to abate cement. The company aims to reduce the carbon impact of industrial processes, divert industrial materials from landfills, and enable a circular economy.
Learn more about Carbon Upcycling at carbonupcycling.com.
Cleantech® Group is the leading authority on global cleantech innovation. Since 2002, our research has helped corporates, public sector, investors, and others, identify, assess, and engage with the innovative solutions and opportunities that are related to the world's massive, and growing, environmental and climate challenges. Our insights and expertise are delivered to clients all over the world through our Research, Consulting, and Events.
SOURCE Carbon Upcycling Technologies Inc.
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