Climate Investment raises its investment in Solidia Technologies
29 April 2021
Solidia Technologies, part of the OGCI Climate Investment portfolio since 2017, has closed a $78 million funding round, including additional investment from Climate Investment and OGCI member company bp.
The company, which has a patented system for producing low carbon cement and concrete cured with carbon dioxide rather than water, also appointed a new CEO, Bryan Kalbfleisch who has two decades of experience leading manufacturing operations producing concrete, asphalt, and other building materials.
The cement and concrete industry is responsible for approximately 8% of all global emissions, making the company’s technology important to addressing climate change. The new funding will support the continued development and deployment of these technologies to accelerate the decarbonization of the building materials industries.
In a show of confidence for the company, the fundraise attracted many new investors. The round was led by Imperative Ventures and Zero Carbon Partners and included the Canada Pension Plan Investment Board, Foris Ventures, Breakthrough Energy Ventures, Prelude Ventures and PIVA Ventures.
Alongside Climate Investment Solidia’s existing investors include bp, Kleiner Perkins, Bright Capital, BASF, LafargeHolcim, Total Carbon Neutrality Ventures, Air Liquide and Bill Joy.