Terra CO2, a leading U.S.-based low-carbon building materials company, signed Series B equity commitments for $82 million from a mix of financial and strategic investors. The funding positions Terra for rapid expansion of commercial facilities across North America and Europe.
“This strategic funding from the world’s leading climate funds and industry partners validates our approach to practical cement decarbonization at commercial scale,” said Bill Yearsley, CEO of Terra CO2. “As we break ground on our first full-scale plant in Texas, their support enables us to accelerate our deployment across North America, and our plans to develop an early beachhead in Europe.”
The investment round was co-led by Just Climate (established by Generation Investment Management), Eagle Materials and GenZero. Seed and Series A lead investor Breakthrough Energy Ventures also participated in this round, reaffirming its commitment to Terra’s mission.
“We are proud to co-lead this investment in Terra,” said Michael Haack, president and CEO of Eagle Materials. “As the supply of other supplementary cementitious materials (SCMs), such as fly ash, continues to decrease in availability, increased SCM development will be crucial to fulfill the needs of our customers and in meeting the expected increases in demand for cement more broadly. This investment aligns with our goal to seek sustainable and commercially viable solutions that work within existing infrastructure.”
The latest funding round will accelerate Terra’s commercial deployment of its OPUS technology, with multiple full-scale production facilities planned across North America and initial development beginning in Europe. Closing will be subject to the fulfillment of conditions precedent.
Terra said it expects a second round of investors to sign on to the Series B raise by late Q1 2025, driven by strong interest from those unable to participate in this initial signing.
