Halifax, Nova Scotia, March 15, 2022 (GLOBE NEWSWIRE) -- Halifax, Nova Scotia, March 15, 2022 — CarbonCure Technologies, a climate tech company deploying a suite of carbon dioxide removal technologies across the global concrete industry, is recognizing its carbon removal credit buyers. These leaders and supporters of high-quality carbon credits have contributed significantly to CarbonCure’s global scale. To date, the company’s technologies have reduced and removed more than 146,000 metric tons of carbon dioxide (CO₂).
The Grand Prize winner of the Carbon XPRIZE, CarbonCure is on a mission to annually reduce and remove 500 million metric tons of carbon emissions by 2030. CarbonCure’s suite of technologies immediately mineralize captured CO2 upon injection into fresh concrete during manufacturing. Even if CarbonCure concrete is later demolished, the mineralized CO₂ will never return to the atmosphere.
CarbonCure sold its first carbon credits in 2020 to Stripe, a payments software provider and early buyer of frontier carbon removal. And we were among the initial purchases of global commerce leader Shopify, which has demonstrated significant climate leadership with its commitment to spend $5 million annually on the most promising technologies and projects fighting climate change globally.
Today, CarbonCure’s carbon credit buyers are among the first in their sectors to invest in permanent, verifiable carbon removal — including Wellington Management from the financial sector, cryptocurrency miner and data center innovator Hut8, and Mapbox and Zendesk representing the tech sector.
CarbonCure has also forged partnerships with major carbon credit platforms such as Abatable, Patch and Pledge, facilitating higher volumes of carbon credit sales that contribute to scaling the carbon market.
CarbonCure Chair and CEO Robert Niven said, “Our carbon credit buyers are leading the field and making an immediate climate impact. Their purchases are accelerating adoption of CarbonCure’s technologies by concrete producers. We are proud to provide high-quality carbon removal credits that are measurable, verifiable, scaling and available right now.”
“Carbon markets are a catalyzing force for innovation and scaling solutions,” Niven added. “As we deploy our technologies globally and work to exponentially increase our carbon storage operations, we’re taking this moment to applaud our partners and their commitment to removing CO₂ and ensuring a sustainable, livable climate.”
CarbonCure’s methodology for calculating its carbon credits was approved in 2021 by Verra, the world’s most widely used voluntary greenhouse gas crediting program. CarbonCure measures and tracks the CO₂ from point of capture through to mineralization, allowing carbon credit buyers to trace the precise deployment date and location of the CO₂ they paid to remove.
“In December, we surpassed 500 CarbonCure systems sold and the delivery of two million truckloads of sustainable, carbonated concrete to construction sites around the world. And as we approach our 10th anniversary in June, we have reduced and removed nearly 150,000 metric tonnes of CO2,” Niven said. “CarbonCure has grown from a single-product company into a vertically-integrated carbon removal solution across the global concrete industry — shrinking the carbon footprint of one of the world’s most difficult-to-decarbonize sectors.”
About CarbonCure Technologies
Architects, structural engineers, owners and developers are seeking proven ways to reduce the embodied carbon of their building projects. CarbonCure Technologies, a fast-growing carbon dioxide removal tech company, has developed easy-to-adopt solutions that enable concrete producers to use captured carbon to produce reliable, low carbon concrete mixes and achieve market differentiation. With more than 500 systems sold, over two million truckloads of CarbonCure mixes have supplied a broad spectrum of sustainable construction projects around the world. CarbonCure’s cutting-edge research and innovation have garnered global recognition and prestigious titles, most notably grand prize winner of the NRG COSIA Carbon XPRIZE, 2020 North American Cleantech Company of the Year and Cleantech 100 Hall of Fame Company. CarbonCure’s investors include Breakthrough Energy Ventures, Amazon, BDC Capital, Pangaea, Microsoft, 2150, Carbon Direct, GreenSoil Investments, Taronga Group and Mitsubishi Corporation.
Abatable is a UK-based carbon procurement platform for corporate buyers, carbon project developers and intermediaries. The company offers corporate offsetting buyers and institutional investors market intelligence and carbon project underwriting tools. The founding team includes Maria Eugenia Filmanovic, former Vice President at Goldman Sachs with experience advising corporates on forestry investments and carbon procurement, and Valerio Magliulo, former Product Manager at Monzo, Google and Facebook. Abatable has received venture capital funding from Y Combinator, Blue Bear Capital and Global Founders Capital. For more information visit abatable.com.
Mapbox powers a new generation of intelligent, location-aware applications, vehicles and businesses in both the physical and digital world. Its platform is purpose built for enterprises to retain control of data, build customizable experiences, and has superior privacy features. Mapbox fully integrates with a company's valuable data to power current and future needs with over 3.5+ million registered developers, 650+ million active users, 2.1+ billion weekly miles of data, 100k+ movement updates per day and 5,000+ customers. With Mapbox, the creative experience is democratized with companies retaining full control of data, and are empowered to build customizable experiences, with superior privacy features. For more information about Mapbox, visit Mapbox.com.
Patch is building the infrastructure for a sustainable economy by enabling giga-tonne scale carbon removal. With Patch, companies can embed climate action into their own products, neutralizing the carbon impact of everyday transactions like shipping, travel and financial services. From an API-integration to direct purchase capabilities, Patch is the marketplace for businesses and consumers to seamlessly contribute to trusted removals projects at any scale. For more information, visit patch.io.
Businesses of every size use Pledge to understand and manage the climate impact of their products. By providing tools and infrastructure, Pledge automates the delivery of climate solutions - such as footprint measurement, reduction and offsetting - into customer journeys.
Stripe began purchasing carbon removal in 2020, with an initial commitment of $1 million. Today, tens of thousands of Stripe users direct a fraction of their revenue to purchasing carbon removal via Stripe Climate. Together Stripe and its users have committed $15 million to purchasing from 14 carbon removal startups across North America, Europe and the Middle East.
About Wellington Management
Tracing its history to 1928, Wellington Management is one of the world’s largest independent investment management firms, serving as a trusted adviser to over 3,200 clients in more than 60 countries. The firm manages more than $1.4 trillion for pensions, endowments and foundations, insurers, family offices, fund sponsors, global wealth managers, and other clients. As a private partnership whose only business is investment management, the firm is able to align its long-term views and interests with those of its clients. The firm offers comprehensive investment management capabilities that span nearly all segments of the global capital markets, including equity, fixed income, multi-asset, sustainable investing, and alternative strategies. With more than 900 investment professionals located in offices around the world, Wellington pairs deep multi-disciplinary research resources with independent investment teams operating in an entrepreneurial “boutique” environment. For more information about the firm or its sustainable investing efforts please visit wellington.com or wellington.com/sustainable-investing.
Zendesk started the customer experience revolution in 2007 by enabling any business around the world to take their customer service online. Today, Zendesk is the champion of great service everywhere for everyone, and powers billions of conversations, connecting more than 100,000 brands with hundreds of millions of customers over telephony, chat, email, messaging, social channels, communities, review sites and help centers. Zendesk products are built with love to be loved. The company was conceived in Copenhagen, Denmark, built and grown in California, taken public in New York City, and today employs more than 5,000 people across the world. Learn more at www.zendesk.com.