Fortera Raises $85M to Scale Low-Carbon Cement Production Globally
In a significant move toward reducing the cement industry's carbon footprint, advanced materials manufacturer Fortera has secured $85 million in Series C funding. This investment will accelerate the deployment of Fortera’s innovative low-carbon cement technology, which is designed to integrate seamlessly with existing infrastructure.
The funding round saw participation from existing investors like Khosla Ventures and Temasek, alongside new contributors such as Wollemi Capital, NOVA by Saint-Gobain, Presidio Ventures, and Alumni Ventures. With its Redding ReCarb Plant already operational, Fortera is set to expand further, producing its ReAct® green cement, which boasts a 70% reduction in CO2 emissions per ton compared to traditional cement.
Fortera's Vision and Technology
Fortera’s CEO and Co-founder, Ryan Gilliam, emphasized the importance of scaling globally to make a significant impact on emissions. “With the launch of our first plant and the close of this funding round, we’re moving into the next phase of commercializing low- to zero-carbon cement. Having the financial means to expand is crucial, and we are grateful for the support of leading investment firms in both project finance and the cement industry as we work towards zero CO2 cement,” said Gilliam.
Fortera’s ReCarb technology is revolutionary because it can be retrofitted onto existing cement plants, capturing CO2 emissions and converting them into mineral form. This innovative approach allows for the production of low-carbon cement without the need for completely new infrastructure. The ReCarb process operates at a lower kiln temperature and is compatible with renewable energy, further reducing emissions and paving the way for zero CO2 cement production.
Investor Confidence and Industry Impact
The commitment from investors underscores the potential of Fortera’s approach. Natalie Volpe, Director at Wollemi Capital, highlighted the practicality of Fortera’s solution, stating, “Fortera does what previous green cement technologies have struggled to do – it integrates with current cement manufacturing processes. This compatibility ensures a faster and more effective path to decarbonizing the cement industry, making a meaningful climate impact sooner.”
Fortera’s ReAct cement technology is the result of over 100,000 hours of R&D, backed by more than 100 issued and pending patents. This low-carbon cement alternative matches the strength and durability of traditional cement, is ASTM-approved, and can be used alone or mixed with ordinary cement, providing flexibility for various construction projects while reducing the overall carbon footprint.
Commitment to Sustainable Innovation
The investment in Fortera aligns with the broader industry commitment to sustainability. Basma Kharrat, Vice President of External Venturing at Saint-Gobain, noted, “Our investment in Fortera supports our goal of decarbonizing industries and collaborating with startups that are driving sustainable innovations. We are excited to support Fortera’s efforts to advance cement technology and reduce environmental impact.”
Fortera’s achievements have not gone unnoticed. The company has received accolades, including being named the 2023 U.S. National Winner for Outstanding Projects by the Net-Zero Industries Awards, and its ReAct cement has been recognized as a Green Builder Media 2024 Sustainable Product of the Year.
The Path Forward
With this new funding, Fortera is poised to expand its operations and bring its low-carbon cement technology to a global market, making a significant contribution to reducing carbon emissions in one of the world’s most challenging industrial sectors. This marks a pivotal step toward a more sustainable future for the cement industry and the planet.