CarbiCrete in its combined $23.5 million Series A financing round

On March 24, 2022, CarbiCrete announced it had secured $15 million (US$12 million) in the first closing of their Series A financing round led by FS Investors with participation from Arc Energy Fund 9, Something Good Ventures, New Climate Ventures and Innovobot. On May 12, 2022, CarbiCrete announced it had secured an additional US$6 million in the second closing of their Series A financing round for a total of $23.5 million. The US$6 million, which comprises US$4.5 million in equity and US$2.3 million in debt, showed participation of Québec firms MacKinnon, Bennett & Co., Fonds économie circulaire, Fonds de Solidarité FTQ, and Fondaction. This financing will allow CarbiCrete to continue growing its team, its product portfolio and its commercialization efforts.

CarbiCrete is a Montreal-based carbon removal technology company developing innovative, low-cost building solutions that reduce greenhouse gas emissions.

Osler, Hoskin & Harcourt LLP advised CarbiCrete in its $15 million (US$12 million) first close and in its US$6 million second close with a team consisting of Shahir Guindi, Liliana Korosi (Corporate) and Alain Fournier (Tax).