CEMEX, S.A.B. de C.V. (“CEMEX”) and its subsidiary CEMEX Ventures, CEMEX's corporate venture capital and open innovation unit, announced its investment in Carbon Clean, a global leader in cost-competitive modular CO2 capture and separation technology. This investment is part of CEMEX’s strategy to achieve its new ambitious climate action goals, including being net carbon neutral in concrete by 2050, under its Future in Action program.
In 2020, CEMEX Ventures signed an agreement with Carbon Clean, which allowed CEMEX Ventures and Carbon Clean to outline a roadmap for jointly developing and implementing carbon capture technologies across cement operations.
Over the last 5 years, Carbon Clean has developed a novel technology (CycloneCC), which can effectively and cost-efficiently capture CO2 from industrial processes. The goal of this breakthrough scalable modular technology is to provide carbon capture at a 10 times smaller installation footprint and 6 times shorter build time, adding up to 50% savings in capital expenditures associated with carbon capture. Additionally, the technology would target operating expenditures as low as US$30 per metric ton of CO2 at an industrial scale.
This investment by CEMEX Ventures, along with previously announced investors Equinor Ventures, ICOS Capital, and WAVE Equity Partners, brings the total capital raised by Carbon Clean in the last year to US$30 million.
