Terra CO2 announced additional series B funding, securing $124.5 million in new equity capital. In addition to Series B co-leads Breakthrough Energy Ventures, Eagle Materials, GenZero and Just Climate, the round included major investment from Barclays Climate Ventures.
With the new capital, Terra will be rapidly moving forward with its first 240,000-tpy commercial advanced-processing facility in the Dallas-Fort Worth market. The funding will also support expanding Terra’s offices and industrial facilities, significantly growing the team, developing more shovel ready commercial projects, and further advancing new generations of cementitious products.
“Terra’s mandate is to deliver cementitious material solutions that the market would purchase solely based on cost and performance, even if there was no carbon benefit,” said Terra CEO Bill Yearsley. “The fact that Terra’s cementitious materials also offer significant carbon mitigation is an additional advantage for the built environment.”
Terra’s patented supplementary cementitious materials (SCMs) process produces a high-performing, low-cost alternative to portland cement and depleted traditional resources such as fly ash. And unlike other low-carbon SCMs, the company said its OPUS products utilize inexpensive, abundant and local feedstocks from existing aggregate mines, and work within existing industry infrastructure.
