(image: Samsung C&T Corp.)
SEOUL, July 13 (Korea Bizwire) — Samsung C&T Corp., the construction unit of Samsung Group, said Wednesday it has made an equity investment of US$7.5 million in CarbonCure, a Canadian carbon dioxide removal tech company.
Along with the investment, the two companies have also signed a business agreement.
Founded in 2012, CarbonCure has developed a technology that improves the strength of concrete by injecting carbon dioxide during the production process.
The approach helps reduce the need for cement, thus mitigating carbon dioxide emissions.
The injected carbon dioxide is permanently removed, making it an environmentally friendly solution.
Samsung C&T said that global technology giants, including Amazon.com, Inc. and Microsoft Corp., have also invested in the Canadian firm.
Samsung C&T’s investment in CarbonCure will be executed through its corporate venture capital (CVC) unit, which was established in 2021 in collaboration with Samsung Venture Investment.
Kevin Lee (kevinlee@koreabizwire.com)
