Calgary’s EnviCore has announced the successful close of its seed funding round, raising $4.2 million to advance its innovative low-carbon technologies for the cement and construction industries.
EnviCore specializes in producing sustainable supplementary cementitious materials (SCMs) from recycled and natural mineral feedstocks. These SCMs offer a scalable solution for reducing the carbon emissions associated with cement production, helping the industry meet global decarbonization goals.
According to EnviCore, its technology is capable of reducing cement production’s carbon footprint by up to 30%, with SCMs that can replace up to 35% of Portland cement in concrete mixes.
“This investment marks a pivotal moment in our journey to commercialize a game-changing technology in the cement industry,” said Shahrukh Shamim, CEO and Co-Founder of EnviCore.
“The support from CSN, Heidelberg Materials, and others will allow us to scale quickly and meet the growing demand for greener building solutions.”
Investors in the round included CSN Inova Ventures, the venture capital arm of Companhia Siderúrgica Nacional (Brazil’s largest steel producer), Heidelberg Materials, Techstars, Hillside Ventures, and angel investors Mark and Faye McGregor.
The seed funding will be used to expand EnviCore’s production capacity, with plans already in place to partner with Heidelberg Materials on a feasibility study for a pilot SCM production facility near one of its recycling hubs.
The funds will also go toward business development, research and development, and operations expansion to enhance EnviCore’s materials.
EnviCore’s SCMs are produced using low-energy processes that incorporate recycled materials, including mining tailings, recycled concrete, slag, and glass, significantly reducing emissions compared to traditional cement production methods.
“We are excited about this partnership, which represents a significant step in the decarbonization of our cement, steel, and mining operations,” said Edvaldo Rabelo, Cement Director at CSN.