Carbon Upcycling, a platform provider for low-carbon cement materials, announced an agreement with ATEL Ventures for up to $10 million in asset-secured financing. The funding supports commercialization of technology designed to capture CO₂ and convert industrial byproducts into supplementary cementitious materials.
Commercial Deployment in Mississauga
Financing will advance the company’s flagship project at the Ash Grove Mississauga Cement Plant. The facility will sequester CO₂ from cement kiln operations and transform local industrial materials into low-carbon cement inputs. Once operational, the plant is expected to produce up to 30,000 tonnes of materials annually, supporting regional construction supply chains.
“Our partnership with ATEL signals Carbon Upcycling’s technology is entering a new phase of commercial readiness. Capital discipline is vital to building the next generation of clean, competitive industrial infrastructure. This agreement aligns the right financing with the right assets, helping us advance our first commercial project while laying the groundwork for repeatable growth.” – Suzy Taherian, Chief Financial Officer of Carbon Upcycling
Scaling Clean Cement Infrastructure
The financing is secured by company assets and includes an option for ATEL Ventures to make a future investment. The project is scheduled to begin operations in the second half of 2026, establishing a foundation for scaling localized low-carbon cement manufacturing.