TLDR:
- Cleantech startup Furno raised $6.5 million in seed funding to decarbonize cement production.
- Furno’s technology enables the production of carbon-neutral cement using gas-based fuels, reducing CO2 emissions.
Cleantech startup Furno recently announced that it has raised $6.5 million in a seed funding round to support its solution for decarbonizing the cement industry. Cement production is a significant source of global greenhouse gas emissions, with over 900 kg of CO2 generated for every 1000 kg of material produced. Furno, founded in 2020 and based in California, utilizes novel combustion and kiln technology to enable the production of carbon-neutral cement.
By using gas-based fuels instead of solid fuels, Furno’s technology significantly reduces CO2 emissions and completely eliminates nitrogen oxides and sulfur oxides. This breakthrough allows Furno to offer modular, carbon-neutral cement plants that are agile and scalable, addressing the key barrier of high capital requirements for building new cement plants to tackle the sector’s climate impact.
Alongside the funding round, Furno introduced its cement production unit, the Furno Brick, which operates at greater than 80% thermal efficiency. This efficiency level is double standard cement plants’ capabilities, helping to mitigate costs related to building new cement plants by enabling pre-fabrication and standardization, reducing production, installation, and permitting expenses.
The funding will enable Furno to further scale its technology, develop the Furno Brick, and provide more customers with samples for feedback. Furno’s CEO, Gurinder Nagra, highlighted the company’s mission to innovate at the core of cement production and complement other technological developments in the cement space.
The oversubscribed funding round was led by Energy Capital Ventures (ECV) and included participation from O’Shaughnessy Ventures, Cantos, Neotribe, and Breakthrough Energy. According to Vic Pascucci, Managing General Partner of ECV, Furno’s technology offers a unique level of decarbonization and market adoption in the cement and concrete industry.
