US: Terra CO2 (Terra) has raised US$124.5m in series B equity funding, with co-leads Breakthrough Energy Ventures, Eagle Materials, GenZero and Just Climate, the round included investment from Barclays Climate Ventures. Additional strategic investors to join the round include Cemex and Siemens subsidiary Siemens Financial Services.
The capital will support the construction of Terra’s first 240,000t/yr advanced-processing facility in Dallas Fort Worth, expansion of its team and sites, and development of further commercial-scale cementitious projects.
CEO Bill Yearsley said “Terra's mandate is to deliver cementitious material solutions that the market would purchase solely based on cost and performance, even if there was no carbon benefit. The fact that Terra's cementitious materials also offer significant carbon mitigation is an additional advantage for the built environment.”
Terra produces supplementary cementitious materials as an alternative to traditional Portland cement, from resources like fly ash. Its second product, Opus Zero, is currently in the testing phase and would serve as a complete replacement for Portland cement.
