Mexican Construction Materials firm investing in Carbon Capture venture

May 17, 2022
CEMEX and Carbon Clean are also working on a pilot of Carbon Clean’s modular technology at CEMEX's Victorville, California plant

Mexican construction materials firm CEMEX, through its CEMEX Ventures unit, has increased its investment in Carbon Clean by participating in the firm’s latest Series C funding round, in which it raised $150 million.

Carbon Clean provides advanced carbon capture technologies and solutions for industrial decarbonization. To date it has captured more than 1.5 million metric tons of CO2 and the firm intends to scale the breakthrough modular technology to facilitate industrial carbon capture on a gigaton scale.

The investment aligns with CEMEX's strategy to develop breakthrough decarbonization technology to achieve its climate action goals. CEMEX and Carbon Clean are also working on a pilot of Carbon Clean’s modular technology at CEMEX's Victorville, California plant. The pilot project is partially funded by the United States Department of Energy.

Earlier, the firms developed and implemented carbon capture technologies at CEMEX´s cement operations. In 2021, CEMEX Ventures participated in Carbon Clean’s Series B funding round.

The Series C funding round was led by Chevron. Existing investors, including CEMEX, Marubeni Corporation and WAVE Equity Partners and new investors, including AXA Investment Managers, Samsung Ventures, Saudi Aramco Energy Ventures and TC Energy, also participated in the funding round.

As part of the new investment made during this round, Carbon Clean and Chevron are seeking to develop a technology demonstration pilot that will test CycloneCC at one of Chevron’s co-generation plants in San Joaquin Valley, California.

About the Author

EnergyTech Staff

Rod Walton is senior editor for He has spent 14 years covering the energy industry as a newspaper and trade journalist.

Walton formerly was energy writer and business editor at the Tulsa World. Later, he spent six years covering the electricity power sector for Pennwell and Clarion Events. He joined Endeavor and EnergyTech in November 2021.

He can be reached at [email protected]

EnergyTech is focused on the mission critical and large-scale energy users and their sustainability and resiliency goals. These include the commercial and industrial sectors, as well as the military, universities, data centers and microgrids.

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