Terra CO2, based in Golden, Colorado, secured a $124.5 million Series B funding to develop and market its low-carbon cement alternative.
The startup aims to address the environmental impact of traditional cement production, which contributes to about 8% of all carbon pollution.
Terra CO2 creates a supplementary cementitious material (SCM) by melting silicate-containing rocks into glassy powders, offering an eco-friendly alternative to Portland cement.
The funding will be used to construct a large facility near Dallas capable of producing 240,000 tons of SCM annually; investors in the Series B round include Bill Gates' Breakthrough Energy Ventures and Al Gore's Just Climate.