Carbon Upcycling Technologies (“Carbon Upcycling”), the leading commercial platform provider for low-carbon cement materials, today announced that it has entered an agreement with ATEL Ventures (“ATEL”) for up to USD 10 million in asset-secured financing.
The agreement marks an important milestone in Carbon Upcycling’s commercialization journey by reinforcing the financeability of its technology. It will support the company’s flagship project at the Ash Grove Mississauga Cement Plant, which will permanently sequester CO₂ from the cement kiln and utilize it to transform locally produced industrial byproducts into high-quality, low-carbon supplementary cementitious materials (SCMs). Once operational, the facility will have the capacity to produce up to 30,000 tonnes of SCMs annually, supporting regional construction supply chains.
Under the agreement, the financing is secured by Carbon Upcycling’s assets, and ATEL receives an option to make a future investment in the company.
With its flagship project set to begin operations in the second half of 2026 and new financing in place, Carbon Upcycling is establishing the financial and commercial foundation necessary to scale localized, clean cement manufacturing infrastructure in North America and beyond.
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