Purpose ESG to invest in Carbon Upcycling
by CM Staff
Purpose ESG is confident that the company can help lower carbon emissions from concrete by at least 10 per cent.
VANCOUVER — Purpose ESG Holdings Inc. has announced its investment in Carbon Upcycling Technologies.
Carbon Upcycling is headquartered in Calgary, Alta. The company converts CO2 into advanced additives, mainly for use in concrete production. It also produces other types of additives for use in plastics manufacturing, coatings, and consumer products.
According to a 2022 report from Deutsche Welle cited in the company’s announcement, the cement and concrete industry is responsible for 8 per cent of total CO2 emissions worldwide.
“Carbon Upcycling has developed technology that is able to significantly reduce the negative environmental impact of concrete production by sequestering CO2 into cement alternatives. This has the added benefits of reducing the volume of cement required, while also strengthening the resulting concrete,” said Young Bann, CEO of Purpose ESG in a statement.
“This is a win-win solution for the industry which can help it to meet the aggressive abatement targets that have been set for it by associations and governments.”
Purpose ESG is confident that Carbon Upcycling can help lower carbon emissions from concrete by at least 10 per cent, and that it can also help improve concrete durability by over 60 per cent while offering better protection for rebar.
Carbon Upcycling has a patented carbon utilization technology that has reportedly deployed over 1,600 tonnes of its low carbon concrete additives into the market.
