CarbonCure Technologies Statement on 2022 Canadian Federal Government Budget

April 8, 2022, Halifax, NS — CarbonCure Technologies Senior Director of Government Affairs Eric Dunford issued the following statement about Canada’s Budget 2022:

“The 2022 budget plan for the Canadian federal government, presented by Deputy Prime Minister and Minister of Finance Chrystia Freeland, for the first time proposes an historic investment in carbon capture, utilization and storage (CCUS) to catalyze innovation and the deployment of critical clean technologies that will be essential to meeting global climate goals. Budget 2022 includes a ​​refundable investment tax credit, starting this year, for businesses that permanently store captured CO₂. 

“Budget 2022 notes that ‘CCUS technologies are an important tool for reducing emissions in high emitting sectors where other pathways to reduce emissions may be limited or unavailable.’ Notably, the budget plan names mineralization of carbon dioxide in concrete as a key pathway for permanent CO₂ storage. This clear support from federal leaders will accelerate the needed transition toward a greener cement and concrete sector while supporting home-grown innovators and job-creators. 

“In collaboration with our innovative concrete producer partners in Canada and around the world, CarbonCure has to date reduced and permanently removed more than 150,000 metric tons of carbon dioxide from the atmosphere. We are proud to be globally and rapidly scaling our technologies and we are grateful for the support we have received from a wide range of stakeholders, including business owners, industry leaders, academics, environmentalists and policymakers.”

About CarbonCure

Architects, structural engineers, owners and developers are seeking proven ways to reduce the embodied carbon of their building projects. CarbonCure Technologies, a fast-growing carbon dioxide removal tech company, has developed easy-to-adopt solutions that enable concrete producers to use captured carbon to produce reliable, low carbon concrete mixes and achieve market differentiation. With more than 550 systems sold, over two million truckloads of CarbonCure mixes have supplied a broad spectrum of sustainable construction projects around the world. CarbonCure’s cutting-edge research and innovation have garnered global recognition and prestigious titles, most notably grand prize winner of the NRG COSIA Carbon XPRIZE, 2020 North American Cleantech Company of the Year and Cleantech 100 Hall of Fame Company. CarbonCure’s investors include Breakthrough Energy Ventures, Amazon, BDC Capital, Pangaea, Microsoft, 2150, Carbon Direct, GreenSoil Investments, Taronga Group and Mitsubishi Corporation. 

Media Contact:
Mike Carter-Conneen
media@carboncure.com