Cemex Ventures, its corporate venture capital and open innovation unit, has increased its stake in Carbon Upcycling.

Carbon Upcycling’s patented technology injects CO2 into industrial byproducts and natural minerals to create clinker substitutes, thereby reducing the carbon footprint of cement.

Cemex first invested in Carbon Upcycling in February 2022 and has been working with the carbon utilisation company to support their scale-up since early 2020. In June of 2022, the companies began working to establish the world’s first commercial-scale plant that produces cement additives by sequestering CO2 in glass byproducts. This project, located at Cemex’s Rugby cement plant, is expected to sequester over 1,600 metric tons of CO2 annually and was awarded £2.3 million in funding from UK Research and Innovation.

Cemex aims to roll out additional carbon mitigation projects in partnership with Carbon Upcycling in selected cement plants across Cemex’s EMEAA, U.S., and Mexico operations.

This investment is part of Cemex’s Future in Action program, which focuses on achieving sustainable excellence through climate action, circularity, and natural resource management with the primary objective of becoming a net-zero CO2 company by 2050.