Sustainable building materials startup Terra CO2 announced that it has raised $82 million in commitments in a Series B financing round, with proceeds aimed at accelerating the commercial deployment of its low carbon cement solution.

Building materials are a key source of global greenhouse gas emissions. Cement production, an ingredient in concrete, accounts for approximately 8% of global carbon dioxide emissions, with over 900 kg of CO2 emissions generated for every 1000 kg of material produced.

Founded in 2016, Terra provides high performance and environmentally solutions for the global construction materials market, including OPUS, a low carbon alternatives for cement replacement in concrete made with abundant, inexpensive, climate-friendly silicate rock feedstock. The company’s first product, OPUS SCM (Supplementary Cementitious Material) can offset the use of up to 50% of Portland cement, with every ton replaced representing a 70% reduction in CO2 emissions and a 90% NOx. The company is currently trialling its OPUS ZERO technology, aimed at replacing 100% of Portland cement.

According to Terra, by using abundant raw materials from established mines and work within existing industry infrastructure, its approach can be deployed at scale, and deliver cementitious materials that perform at least as well as traditional cement, while significantly reducing emissions.

Terra said that the new capital will accelerate the deployment of its OPUS technology, with multiple full-scale production facilities planned across North America and initial development beginning in Europe. The company has secured agreements with low carbon building materials solutions provider Asher Materials for its first facility in the Dallas-Fort Worth area, and has option agreements in place for multiple 240,000-ton plants across North America with construction products company Eagle Materials, who is also a lead investor in the financing round.

Bill Yearsley, CEO of Terra, said:

“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.”

Michael Haack, President and CEO of Eagle Materials, added:

“This investment aligns with our goal to seek sustainable and commercially viable solutions that work within existing infrastructure.”

In addition to Eagle Materials, the financing round was led by high-profile climate solutions investors Just Climate and GenZero, and also included participation by Bill Gates-backed Breakthrough Energy Ventures (BEV), which led Terra’s Series A round in 2022.

Benoit Grobon, Managing Director at Just Climate, said:

“Terra is the type of transformational solution that Just Climate seeks to scale. Their ability to deliver a practical and cost competitive solution to one of the world’s highest-emitting and most off track sectors, along with their strategic approach to deployment, positions them to drive meaningful carbon reduction in the construction industry.”

Terra said that it expects a second round of investors to sign on to the Series B raise by late Q1 2025.