Direct Carbon Capture Projects
Carbon Upcycling Technologies Received $10M US for New Facility
Colin Smith — April 4, 2026
Carbon Upcycling Technologies has secured up to USD 10 million in asset‑backed financing from ATEL Ventures to advance its flagship carbon capture and utilization project at the Ash Grove Mississauga Cement Plant. The company’s system is designed to capture carbon dioxide from the cement kiln and expose it to locally sourced industrial byproducts, converting them into low carbon supplementary cementitious materials. Once operational in the second half of 2026, the facility is expected to produce up to 30,000 tonnes of these materials annually, supporting regional construction supply chains and reducing emissions associated with cement production.
The financing agreement includes an option for ATEL Ventures to make a future investment and is positioned as a milestone in Carbon Upcycling’s progression toward commercial scale deployment. Company leadership notes that the funding aligns capital with physical assets to support the first commercial installation of its technology and establish a foundation for future growth. The Mississauga plant is one of Ash Grove’s largest Canadian facilities, producing more than one million tonnes of cement per year, and the integration of Carbon Upcycling’s system is intended to contribute to broader decarbonization efforts within the sector.
