EnviCore Successfully Closes Seed Round to Scale Low-Carbon Cementitious Technology

CALGARY, AB, Oct. 15, 2024 /CNW/ - EnviCore, a Calgary-based leader in sustainable materials technology, today announced the successful closing of its seed funding round, raising C$4.2 million. The round was led by prominent industry investors, including CSN Inova Ventures (the corporate venture capital arm of Companhia Siderúrgica Nacional, Brazil's largest fully integrated steel producer), Heidelberg Materials, Techstars, Hillside Ventures, and Angel Investor Mark and Faye McGregor.

The funding will accelerate EnviCore's mission to transform the cement industry by scaling the production of low-carbon supplementary cementitious materials (SCMs). EnviCore's innovative technology reduces the carbon footprint of cement production by up to 30%, using recycled mineral feedstock. These SCMs can replace up to 35% of Portland cement in concrete, contributing to global sustainability and decarbonization efforts.

"This investment marks a pivotal moment in our journey to commercialize a game-changing technology in the cement industry," said Shahrukh Shamim, CEO and Co-Founder of EnviCore. "The support from CSN, Heidelberg Materials, and other investors will allow us to scale quickly and meet the growing demand for greener building solutions."

Proceeds from the seed round will be used to expand EnviCore's SCM production capacity, which has already been validated through partnerships with leading global cement and construction companies. Heidelberg Materials, one of the world's largest integrated manufacturers of building materials and solutions, will conduct a feasibility study with EnviCore to decide on deploying a pilot SCM production facility close to one of Heidelberg Materials' recycling hubs. In addition, the funds will support business development, operations expansion, and research and development initiatives to refine and enhance the performance of EnviCore's materials.

The company's SCMs are produced using low-energy, low-emission processes and recycled mineral feedstocks, such as mining tailings, recycled concrete, slag, shale, clays, glass, bottom ash, etc. significantly reducing carbon emissions compared to traditional cement production.

"We are very excited with this partnership, which represents an important step in the decarbonization and sustainability agenda of our cement, steel and mining operations, and will support EnviCore in the development of its technology", said Edvaldo Rabelo, Cement Director at CSN.

With this strategic backing, EnviCore is poised to become a key player in the global shift toward sustainable materials, helping cement producers lower their carbon footprint while maintaining material performance and durability.

About EnviCore

EnviCore Inc. is a Calgary-based company focused on developing innovative low-carbon technologies for the cement and construction industries. The company produces sustainable supplementary cementitious materials (SCMs) from recycled and natural mineral feedstock, offering a scalable solution to reduce carbon emissions in cement production and contributing to global decarbonization efforts.

For more information, please visit: www.envicoreinc.com or contact:

SOURCE EnviCore Inc.