Golden, Colorado, February 21, 2025 – Terra CO2, a US-based innovator in low-carbon building materials, has announced the successful closure of its Series B funding round, raising US$82 million from a consortium of leading climate-focused and strategic investors. The funding round was co-led by Just Climate, a specialist investment business established by Generation Investment Management; Eagle Materials, a major US manufacturer of construction products; and GenZero, a Temasek-owned investment platform dedicated to accelerating global decarbonisation.
The investment will accelerate the commercial deployment of Terra’s OPUS technology, a groundbreaking solution designed to reduce carbon emissions in the cement industry. The company plans to establish multiple full-scale production facilities across North America, with initial development also underway in Europe. The funding round also saw participation from Breakthrough Energy Ventures (BEV), Terra’s seed and Series A lead investor, reaffirming its confidence in the company’s mission.
Cement production accounts for approximately 8% of global CO2 emissions, making it one of the most carbon-intensive industries. Terra’s OPUS technology offers a scalable and practical solution by using abundant raw materials from existing mines, seamlessly integrating with current industry infrastructure. This approach enables the production of cementitious materials that match or exceed the performance of traditional cement while significantly reducing carbon emissions.
Bill Yearsley, CEO of Terra CO2, said: “This strategic funding from the world’s leading climate funds and industry partners validates our approach to practical cement decarbonisation at commercial scale. As we break ground on our first full-scale plant in Texas, their support enables us to accelerate deployment across North America and establish an early presence in Europe.”
Strategic Partnerships and Market Validation
Terra’s Series B funding follows significant commercial milestones, including agreements with Asher Materials for its first facility in the Dallas-Fort Worth area and option agreements with Eagle Materials for multiple 240,000-ton plants across North America. The company has also validated its technology through extensive piloting and successful demonstrations, including the construction of a Porsche dealership in Houston.
In 2024, Terra’s OPUS technology was recognised as “Decarbonisation Solution of the Year” at the CleanTech Breakthrough Awards. Additionally, the US Department of Energy awarded Terra a US$52.6 million grant to support the development of a second commercial plant.
Michael Haack, President and CEO of Eagle Materials, commented: “As the supply of supplementary cementitious materials like fly ash dwindles, increased development of alternatives is crucial to meet customer demand. Terra’s solution aligns with our goal of seeking sustainable and commercially viable options that work within existing infrastructure.”
Investor Confidence in Terra’s Vision
The funding round underscores growing investor confidence in Terra’s ability to deliver scalable decarbonisation solutions. Benoit Grobon, Managing Director at Just Climate, said: “Terra is the type of transformational solution we seek to scale. Their practical and cost-competitive approach positions them to drive meaningful carbon reduction in one of the world’s hardest-to-abate sectors.”
Kimberly Tan, Managing Director and Head of Investments at GenZero, added: “Terra’s proprietary technology is a present-day, accessible solution that has undergone extensive testing and garnered significant commercial traction. It can deliver immediate decarbonisation benefits while meeting the stringent performance requirements of the construction industry.”
Expanding Commercial Footprint
With the Series B funding, Terra plans to accelerate the buildout of its commercial facilities, form strategic partnerships, and meet the rising demand for sustainable construction materials. The company has already contracted Clark Construction, one of North America’s largest and most respected contractors, to deliver its first full-scale commercial plant in Texas.
Yearsley added: “Clark’s technical expertise and reach make them an ideal partner to execute this project successfully. Their involvement ensures we can deliver Terra projects anywhere in the United States.”
Terra’s OPUS SCM™, a supplementary cementitious material capable of replacing up to 50% of traditional Portland cement, is ready for commercial deployment. Meanwhile, its OPUS ZERO™ technology, a potential 100% replacement for Portland cement, is undergoing full concrete trials. Both products leverage Terra’s “drop-in” reactor solution, which integrates seamlessly with existing infrastructure.
Looking Ahead
The robust support from Terra’s investor group, combined with its commercial readiness and market validation, has generated strong interest from additional strategic and financial investors. A second round of Series B funding is expected by late Q1 2025, as the company continues to expand its footprint and drive the transition to low-carbon cement.
As the global construction industry seeks sustainable alternatives to traditional materials, Terra CO2 is positioning itself as a leader in the race to decarbonise one of the world’s most carbon-intensive sectors.