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Terra CO2, a frontrunner in low-carbon building materials, has secured $82M in Series B equity commitments, propelling its mission to revolutionize sustainable construction. The funding round, co-led by Just Climate (an initiative of Generation Investment Management), Eagle Materials, and GenZero, has also drawn interest from additional industrial partners, with formal announcements forthcoming. Breakthrough Energy Ventures (BEV), the lead investor from Terra’s earlier rounds, reaffirmed its support by participating in this latest funding phase.
This capital infusion will fast-track the commercial deployment of Terra’s OPUS technology, enabling the development of multiple large-scale production facilities across North America and laying the groundwork for European expansion. Subject to final conditions, the investment will drive immediate infrastructure advancements in the sector.
"This strategic funding from the world's leading climate funds and industry partners validates our approach to practical cement decarbonization at commercial scale," said Bill Yearsley, CEO of Terra. "As we break ground on our first full-scale plant in Texas, their support enables us to accelerate our deployment across North America and our plans to develop an early beachhead in Europe."
Cement production accounts for approximately 8% of global CO2 emissions, making it a critical focal point for industrial decarbonization. Unlike alternative solutions that demand significant infrastructure overhauls or depend on scarce resources, Terra’s OPUS products utilize widely available raw materials from existing mines. This approach allows seamless integration into traditional industry frameworks while significantly reducing carbon output without sacrificing performance.
"We are proud to co-lead this investment in Terra,” said Michael Haack, President and CEO of Eagle Materials. “As the supply of other Supplementary Cementitious Materials (SCMs), such as fly ash, continues to decrease in availability, increased SCM development will be crucial to fulfill the needs of our customers and in meeting the expected increases in demand for cement more broadly. This investment aligns with our goal to seek sustainable and commercially viable solutions that work within existing infrastructure."
Since securing its Series A funding, Terra has made significant strides. The company has locked in agreements with Asher Materials for its inaugural facility in the Dallas-Fort Worth region. At the same time, a partnership with Eagle Materials includes options for multiple 240,000-ton plants across North America. Extensive pilot testing and real-world demonstrations, such as constructing a Porsche dealership in Houston, have validated OPUS’s efficacy.
At the 2024 CleanTech Breakthrough Awards, Terra was recognized as the "Decarbonization Solution of the Year." Terra has also advanced its OPUS ZERO™ technology—a full cement replacement—into rigorous concrete trials.
Adding to its momentum, Terra recently secured a $52.6M grant from the U.S. Department of Energy (DOE) to support its second commercial-scale facility. Spurred by mounting interest from those who missed the initial round, the company anticipates further Series B investors joining by late Q1 2025.
"Terra is the type of transformational solution that Just Climate seeks to scale," said Benoit Grobon, Managing Director at Just Climate. "Their ability to deliver a practical and cost competitive solution to one of the world’s highest-emitting and most off track sectors, along with their strategic approach to deployment, positions them to drive meaningful carbon reduction in the construction industry."
"We invest in commercially scalable technologies with the ability to deliver deep decarbonization impact in hard-to-abate sectors such as the built environment,” said Kimberly Tan, Managing Director and Head of Investments at GenZero. “Terra’s proprietary technology is a present-day, accessible solution, which has undergone extensive testing and garnered significant commercial traction from potential customers. This means it can deliver immediate decarbonization benefits while addressing the demands of urban development and the industry’s stringent performance requirements.”
As Terra gears up for full-scale operations, it has partnered with Clark Construction to build out its Texas plant. “Having known Clark for decades, I know they have the technical expertise to execute this project successfully. I am excited to have them on the team as one of the largest and most respected contractors in North America with the reach to complete Terra projects anywhere in the United States,” said Yearsley.
With fresh funding, the company is poised to expand its commercial footprint, establish strategic alliances, and accelerate the deployment of additional facilities to meet surging demand for eco-friendly construction materials across North America and Europe.
About Terra CO2
Terra CO2 is pioneering low-carbon cement alternatives, tackling the industry’s heavy emissions footprint. Responsible for 8% of global CO2 emissions, cement production has long been a sustainability challenge. Terra’s technology stands out by leveraging widely available silicate rock mineralogy, circumventing the supply chain constraints of other green solutions.
Its flagship product, OPUS SCM™, can replace up to 50% of Ordinary Portland Cement (OPC). It offers a viable pathway to reducing carbon emissions and addressing material shortages. Meanwhile, OPUS ZERO™, a potential complete OPC replacement, is undergoing advanced trials. Both solutions are designed for seamless adoption within existing cement production infrastructure, ensuring minimal disruption while maximizing impact.
Headquartered in Golden, Colorado, Terra CO2 is led by a team of industry experts dedicated to reshaping the future of sustainable construction materials.
About Just Climate
Generation Investment Management founded Just Climate, which specializes in scaling transformative solutions for high-emission industries. Recognizing the urgent need to mobilize capital for net-zero progress, Just Climate is committed to positioning climate-led investing as an essential strategy for institutional investors worldwide.
About GenZero
Backed by Temasek, GenZero is an investment platform that accelerates global decarbonization. With a holistic approach to net-zero solutions, GenZero focuses on three core areas: nature-based initiatives, cutting-edge technological advancements, and mechanisms that enhance carbon market efficacy and industrial decarbonization.
About Eagle Materials
Eagle Materials Inc. (NYSE: EXP) is a premier U.S. manufacturer of essential construction materials, including Portland Cement and Gypsum Wallboard. Operating over 70 facilities across 21 states, Eagle plays a crucial role in infrastructure expansion and urban development. Headquartered in Dallas, Texas, the company remains a leader in building materials innovation and sustainability.
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