Terra CO2 (Terra), a low-carbon building materials company based in Golden, has secured $82 million in Series B equity commitments from a mix of financial and strategic investors. The funding aims to accelerate the commercial deployment of Terra’s proprietary OPUS technology.
The Series B round is co-led by Just Climate, Eagle Materials and GenZero. It also includes participation from Breakthrough Energy Ventures, Terra’s lead investor from its Seed and Series A funding rounds. Terra plans to use the investment to develop multiple full-scale production facilities in North America, with initial development beginning in Europe. The funding will close subject to certain conditions being met.
“This strategic funding from the world’s leading climate funds and industry partners validates our approach to practical cement decarbonization at commercial scale,” said Bill Yearsley, CEO of Terra. The company recently began construction on its first full-scale plant in Texas.
With the cement industry accounting for approximately 8% of global CO2 emissions, Terra’s OPUS technology aims to address this challenge by utilizing abundant raw materials and established infrastructure. The technology delivers cementitious materials that perform comparably or better than traditional cement while reducing carbon emissions.
Since its Series A, Terra has reached agreements with Asher Materials for its first facility in the Dallas-Fort Worth area and has option agreements with Eagle Materials for additional plants across North America. The company has validated its technology through successful piloting and demonstrations, including a Porsche dealership in Houston. It also received the “Decarbonization Solution of the Year” award in the 2024 CleanTech Breakthrough Awards.
Recently, the US Department of Energy awarded Terra a $52.6 million grant to support a second commercial plant. Just Climate’s Benoit Grobon expressed confidence in Terra’s solution, stating, “Their ability to deliver a practical and cost competitive solution to one of the world’s highest-emitting and most off track sectors… positions them to drive meaningful carbon reduction in the construction industry.”
The ongoing interest from strategic and financial investors is expected to bolster the Series B round. Terra anticipates a second wave of investor commitments by late Q1 2025 as it advances its projects, including a contract with Clark Construction for its Texas facility.
