Displaying items by tag: Cemex Ventures

UK: Carbon capture systems developer Carbon Clean has raised US$150m in its largest funding round to date. US-based energy company Chevron Corporation led the round, with participation from Cemex venture capital subsidiary Cemex Ventures, Marubeni Corporation, WAVE Equity Partners, AXA IM Alts, Samsung Ventures, Saudi Aramco Energy Ventures and TC Energy.

As a result of the new funding, Carbon Clean says that it will now scale the production of its CycloneCC fully modular carbon capture technology, increase investment in research and development grow its team to meet ‘exponential’ demand growth for its products.

Canada: Carbon Upcycling Technologies has secured US$6.15m in financing from a group of companies led by Clean Energy Ventures, Cemex Ventures, Amplify Capital and Oxy Low Carbon Ventures (OLCV). The investment round includes participation from Zero Carbon Partners, Purpose ESG, Clean Energy Venture Group, Fund for Sustainability and Energy, Prithvi Ventures, Bryan Trudel, and Mark and Faye McGregor. Carbon Upcycling intends to use the funding to grow its team and build its second commercial-scale facility in North America, with a production capacity of over 200t/day of its cement and concrete additive. Carbon Upcycling sequesters CO₂ in secondary cementitious materials such as fly ash, which are then used in cement or concrete production.

US: Cemex Ventures says that it has invested in industry and construction sector on-demand delivery platform PartRunner. The startup operates a fleet of trucks which provide flexible service to warehouses, retailers and job sites across the US. Under Cemex Ventures’ guidance, it plans to expand its services to also cover Mexico.

Cemex Ventures director Gonzalo Galindo said "This solution fits perfectly with Cemex's commitment to offer our customers greater control over their businesses by improving efficiency and transparency in the delivery of construction products and materials.”

UK: Cemex has joined its subsidiary Cemex Ventures and Taronga Ventures in investing in construction logistics digital platform developer Voyage Control. The group said that the supplier’s product can reduce delays, waste and cost overruns through optimised delivery scheduling, and provide an overview of all transactions in real time. It currently helps to coordinate 6 million deliveries annually at 200 sites across North America, Europe and Asia.

Cemex Ventures director Gonzalo Galindo said “Cemex Ventures seeks to integrate Voyage Control with Cemex's digital assets, which will allow us to provide a better and more complete service to our clients. Now, we can collect more information, continue to promote operational efficiency and sustainable reporting and improve our health and safety criteria to reduce risks.”

Mexico/UK: Cemex Ventures has become an investor in Carbon Clean. It joins existing investors Equinor Ventures, ICOS Capital and WAVE Equity Partners. The companies have invested US$8m in Carbon Clean extending its US$22m series B investment round, previously announced in July 2020, to US$30m in total. Cemex’s investment is part of its strategy to achieve its new climate action goals, including being net carbon neutral in concrete by 2050, under its Future in Action programme.

Carbon Clean has developed a modular CO₂ capture and separation technology that it calls CycloneCC. As well as reducing the size of installation and construction time, it is aiming to reduce operating expenditures to around US$30/t of CO₂ at an industrial scale. In 2020, the subsidiary of Cemex signed an agreement with Carbon Clean, which allowed the companies to outline a roadmap for jointly developing and implementing carbon capture technologies across cement operations.

UK: Cemex Ventures has invested in Modulous, a London-based company that uses a modular construction system. Modulous says it digitises its materials supply chain management to reduce costs and time and in construction process. It uses machine learning, generative design and 5D BIM modelling in its supporting software to support this. No value for Cemex Ventures’ investment in Modulous has been disclosed.

"By including Modulous in our portfolio, we offer the industry a unique offsite construction model" said Mateo Zimermmann, head of Cemex Ventures investment in Modulous. "The Modulous innovative approach enables the supply chain to deliver sustainable and high-quality homes, significantly reducing time and costs. Modulous does not require additional capital expenditure, which makes it globally scalable. This team is going to revolutionise the residential development industry.”

Modulous has secured a number of projects in the UK and Europe. It is currently preparing the delivery of a Euro7m residential scheme in London using its design and construction system that it claims will achieve completion 12 months ahead of schedule. Modulous is one of the winners of the 2020 Construction Startup Competition, the annual startup challenge organized by Cemex Ventures.

Mexico: Cemex subsidiary Cemex Ventures has named its 50 most promising construction and technology start-ups for 2020. The year’s list included 14 suppliers of solutions to increase productivity, 12 developers of new materials and construction methods, 13 innovators in the fields of safety and sustainability and 11 suppliers of supply chain-improving applications.

The company said, “The investment ecosystem in construction startups gained traction and closes the year 2020 surpassing US$1.3bn.” It added, “In 2020, Cemex Ventures is one of the companies that leads investment efforts in the ConTech ecosystem, positioning itself as one of the leaders in the industry.”

Mexico: Cemex subsidiary Cemex Ventures has invested in excavation materials marketplace Soil Connect. The online platform says that it connects the supply and demand algorithmically based on the users' proximity and needs. It is mainly used for aggregates. In digitising the marketplace it reduces landfill while lowering transportation distances, according to the investor. It says that this results in tremendous cost savings for construction professionals. This also promotes circular economy within the sector.

Cemex Ventures’ investment head Cristina Aparicio said, "For any relevant actor with a view to the future of our ecosystem, it is a priority to offer a solution to the millions of tonnes of materials that are generated annually in demolition projects, since much of the construction materials of tomorrow come from the projects to be demolished. We are very excited about this agreement with the Soil Connect team, which has created a business that adds value, both to those who generate the waste and to those who need construction material, prioritising this tool that provides agility."

Mexico: Cemex subsidiary Cemex Ventures has signed an agreement with US-based carbon capture and storage (CCS) specialist Carbon Clean for the development of a CCS solution for under US$30/t of carbon dioxide (CO₂) captured. Cemex cement plants will host the products during pilot testing. Cemex Ventures head Gonzalo Galindo said, “The ambitious target of making carbon capture technology accessible and more efficient would be an unprecedented achievement for the cement sector, opening a door of opportunities for further developments.”

US: Mexico-based Cemex has announced its investment in Arqlite, a producer of aggregates from waste plastic. Arqlite won the Cemex Ventures Global Construction Startup Competition in 2019. Other investors in the company, which began its research and development process in Argentina in 2016, include Kamay Ventures and Chris Graff.

The Cemex Ventures Global Construction Startup Competition 2020 remains open to applicants until 26 July 2020.