Investment Announcement
CRH Ventures invests in Cool Planet Technologies to advance carbon capture innovation
CRH Ventures has participated in a €23.7 million Series A2 funding round for Cool Planet Technologies, a company specialising in innovative carbon capture solutions for industries that have traditionally been difficult to decarbonise.
Cool Planet Technologies has developed a groundbreaking compact, low-energy, and low-cost membrane-based carbon capture solution and an operationally flexible process that is ideal for retrofit and new build application.
This investment aligns with CRH Ventures' commitment to advancing technologies that support the decarbonisation of industrial processes in the construction industry.
Eduardo Gomez, Head of CRH Ventures, emphasised the significance of the investment: "We are always looking for disruptive technologies that can help reduce carbon emissions across our industry and support us on our path to carbon neutrality.
“Cool Planet’s innovative membrane-based solution has the potential to transform carbon capture by making it more cost-effective and accessible. We are excited to support their journey and help optimise how their technology can contribute to decarbonising industrial sectors that are critical to the global economy."
The funds raised will allow the company to complete the demonstration of its technology at scale and accelerate its commercial deployment. This includes the construction of a membrane manufacturing facility, which will be key to delivering their carbon capture solutions at scale.
Cool Planet's mission to provide affordable, modular decarbonisation solutions is a natural fit with CRH Ventures' strategy of backing innovations that promote sustainability across the construction value chain, reinforcing CRH Ventures' position in supporting pioneering technologies that drive the transition to a low-carbon future.