Samsung C&T Invests $7.5 Million in Canada's CarbonCure to "Reduce Carbon Emissions and Enhance Competitiveness"

Expansion of Construction Technology Investment for Carbon Reduction

Samsung C&T Corporation's Construction Division strengthens future business competitiveness through equity investment and a business agreement with a leading low-carbon concrete technology company.

Leading Low-Carbon Concrete Technology Company CarbonCure
[Photo by Samsung C&T]

Samsung C&T announced on the 12th that it has signed a contract to invest $7.5 million (approximately 9.8 billion KRW) in CarbonCure, a Canadian company possessing eco-friendly low-carbon concrete technology.

Founded in 2012, CarbonCure's investors include global companies with a strong interest in ESG (Environmental, Social, and Governance) such as Amazon and Microsoft (MS). This investment was made through the CVC fund (SVIC-53) established by Samsung C&T and Samsung Venture Investment Corporation in 2021.

CarbonCure's low-carbon concrete technology injects carbon dioxide during the concrete production process, triggering a chemical reaction that increases the concrete's strength. Utilizing this technology reduces the amount of cement used, thereby decreasing the amount of carbon dioxide generated, and the injected carbon dioxide can be permanently sequestered.

CarbonCure's technology is evaluated as the most mature and practical among currently commercialized low-carbon concrete technologies. It is sold to concrete companies in more than 30 countries.

Through the business agreement, Samsung C&T and CarbonCure plan to seek mutual development by leveraging each company's technology and competitiveness. Samsung C&T will actively introduce CarbonCure's technology to domestic and overseas sites to strengthen its decarbonization portfolio and contribute to CarbonCure's market expansion. CarbonCure will support Samsung C&T's carbon reduction processes and share know-how.

Jung Hojin, Vice President and Head of Procurement at Samsung C&T's Construction Division, stated, “Samsung C&T plans to actively adopt various solutions that the construction industry can contribute to achieving the shared goal of carbon reduction.”

Robert Niven, CEO of CarbonCure, said, “We expect that cooperation with Samsung C&T will accelerate our innovation for a decarbonized and sustainable construction industry and greatly assist in market expansion.”

This content was produced with the assistance of AI translation services.