Cura Raises $10 Million to Scale Low-Carbon Cement Technology
Cura, a Calgary-based company specializing in reducing cement's process emissions, has announced a $10 million funding round. The financing was led by Zacua Ventures, with participation from Sandpiper Ventures, Vantage Futures, Amplify Capital, the University of Calgary’s UCEED fund, Mount Rundle Club, and Sebastian Becker.
Innovative Approach to Cement Production
Cura is pioneering an electrochemical technology that aims to reduce emissions in the cement production process. Traditional cement manufacturing is a significant contributor to global CO2 emissions, accounting for about seven percent of the total. By using an electrochemical process instead of fossil-fuel-powered kilns, Cura claims it can cut emissions by 30 to 85 percent.
Leadership and Vision
The company was co-founded by Erin Bobicki, who serves as the Chief Executive Officer, and Phil Luna, the Chief Technology Officer. Bobicki commented on the industry’s substantial sunk assets, highlighting the need for innovative solutions like Cura's to transform the sector.
Strategic Use of Funds
The new funds will be used to expand Cura's team and develop a pilot plant near Taber, Alberta. CEO Erin Bobicki noted plans to increase the company’s headcount from 15 to 20 by the end of the year, focusing on hiring engineers and scientists to advance their core electrochemical technologies. "We’ve already started hiring," Bobicki said, emphasizing the need for expertise in both engineering and business development.
Board Expansion
As part of the funding agreement, Juan Nieto from Zacua Ventures will join Cura’s board of directors, bringing additional strategic guidance to the company as it scales its operations.
Cura's innovative approach to cement production positions it as a key player in the effort to reduce industrial carbon emissions, a critical concern for both the environment and the industry.