Advanced materials company Fortera announced it has secured $85 million in Series C funding to scale up the deployment of its low-carbon cement technology that integrates with existing infrastructure. The funding round included participation from previous investors Khosla Ventures and Temasek, as well as initial investments from Wollemi Capital, NOVA by Saint-Gobain, Presidio Ventures and Alumni Ventures.
With operations underway at the company's Reading ReCarb plant, Fortera is preparing to build further plants to produce ReAct green cement, which emits 70% less carbon dioxide (CO2) per tonne than regular cement.
Fortera's ReCarb process is bolted onto existing cement manufacturing plants, capturing industrial carbon dioxide emissions from traditional cement production and converting it into a mineral form, resulting in ready-to-use, low-carbon cement. The company's process also integrates with existing infrastructure, including raw materials, capital investment, logistics and sales networks, making the path to large-scale commercialization shorter and more cost-effective. Additionally, Fortera's ReCarb technology operates at significantly lower kiln temperatures and is compatible with renewable energy integration, further reducing emissions and enabling zero-carbon cement production.
Fortera's technology is the result of more than 100,000 hours of research and development and is backed by more than 100 issued and pending global patents and more than a decade of real-world product testing. The company's ReAct cement is a unique form of calcium carbonate produced from mineralized industrial carbon dioxide that provides strength and durability comparable to regular cement. It meets existing regulations and is ASTM certified as a partial cement replacement. ReAct can be used alone or mixed with regular cement to reduce construction projects' carbon footprint and improve workability while maintaining strength.
Important Quotes:
“Given the size of our industry, we will not be able to impact emissions without an economic pathway to scale globally. With the launch of our first plant and the close of this funding round, we enter the next phase of our development as a commercial projects company to accelerate the adoption of low- to zero-carbon cement. To commercialize our technology, we need the financial means to launch our operations. We are honored to have the support and expertise of the most knowledgeable investment firms in project finance and the cement and concrete industry as we pave the way to zero CO2 cement.”
Ryan Gilliam, CEO and Co-Founder of Forterra
“Addressing carbon emissions in this challenging industrial sector requires making the most of existing resources. Fortera does what traditional green cement technologies have not been able to do – partnering with cement companies to provide an accessible solution for a cleaner industry. With its compatibility with today's ecosystem, we believe Fortera's process is the most effective technology to decarbonize cement and achieve meaningful climate impact more quickly. We are pleased to leverage Wollemi's expertise in financing next-generation infrastructure projects to support the development of the future plant.”
Natalie Volpe, Director at Wollemi Capital
“Our investment in Forterra aligns with Saint-Gobain's priority to decarbonize industry and our commitment to working with startups that are moving the world forward with sustainable innovations. We look forward to fostering our relationship with Forterra as they continue to evolve their cement technology aimed at reducing their environmental impact, while also reducing carbon emissions through upgrades to their manufacturing facilities.”
• Basma Kharrat, VP of External Ventures at Saint-Gobain
