Terra CO2, a prominent US-based company specializing in low-carbon building materials, has raised $82 million in Series B equity commitments from a diverse group of financial and strategic investors. The funding round was co-led by Just Climate, Eagle Materials, and GenZero, with participation from existing investor Breakthrough Energy Ventures (BEV). This capital will facilitate the commercial deployment of Terra's OPUS technology, with plans for multiple production facilities across North America and initial developments in Europe.
CEO Bill Yearsley emphasized that this funding validates Terra's approach to cement decarbonization at a commercial scale. The company is set to break ground on its first full-scale plant in Texas, which will help accelerate its expansion in North America and establish a presence in Europe.
The cement industry is responsible for approximately 8% of global CO2 emissions, presenting a significant challenge for industrial decarbonization. Unlike other solutions that require extensive infrastructure changes or rely on scarce materials, Terra's OPUS products utilize abundant raw materials from established mines and integrate into existing industry frameworks. This allows for immediate large-scale deployment, producing cementitious materials that match or exceed the performance of traditional cement while significantly lowering carbon emissions.
Eagle Materials' CEO, Michael Haack, expressed pride in co-leading the investment, highlighting the need for sustainable solutions as the availability of supplementary cementitious materials (SCMs) declines. This investment aligns with their goal of developing commercially viable solutions that fit within existing infrastructure.
Since its Series A funding, Terra has secured agreements for its first facility in the Dallas-Fort Worth area and has partnered with Eagle Materials for multiple plants across North America. The company has validated its technology through extensive piloting and successful concrete demonstrations, including a project for a Porsche dealership in Houston. Terra's OPUS ZERO™ technology, a complete cement replacement solution, is also undergoing full concrete trials. Recently, the US Department of Energy awarded Terra a $52.6 million grant to support a second commercial plant.
Just Climate's Managing Director, Benoit Grobon, noted that Terra's solution is transformative, offering a practical and cost-competitive approach to one of the highest-emitting sectors. GenZero's Managing Director, Kimberly Tan, highlighted Terra's technology as a scalable solution that has undergone rigorous testing and gained significant commercial traction.
The strong backing from a world-class investor group, combined with Terra's readiness for commercial deployment, has attracted further interest from potential investors. Terra anticipates a second round of investors to join the Series B raise by late Q1 2025, driven by demand from those unable to participate in the initial round.
As Terra prepares to launch its first full-scale commercial plant in Texas, it has contracted Clark Construction for the project. Yearsley expressed confidence in Clark's expertise, noting their reputation as one of North America's largest and most respected contractors.
With the Series B funding, Terra aims to accelerate its commercial footprint and establish strategic partnerships, positioning itself as a leader in the decarbonization of the construction industry.
