Amazon Leads ‘Dream Team’ Of Cleantech Investors In Dartmouth Company
Dartmouth-based CarbonCure Technologies has raised a fresh round of funding led by Amazon and Breakthrough Energy Ventures, and CEO Robert Niven believes it’s the biggest cleantech financing round in Canada this year.
The announcement of the major funding round came the day after Ottawa-based eCommerce giant Shopify said its $5-million Sustainability Fund would purchase carbon offsets from CarbonCure to encourage green industrial practices.
Amazon said Thursday morning that CarbonCure and four other companies would be the first cleantech companies to receive investments from its $2-billion (U.S.) green venture capital fund. It previously announced the fund as part of its Climate Pledge, the 2019 promise to become carbon-neutral by 2040.
CarbonCure did not reveal how much it had raised but said the investment came from a syndicate that comprised Amazon’s Climate Pledge Fund, Breakthrough, Microsoft, BDC Capital, 2150, Thistledown Capital, Taronga Ventures, and GreenSoil Investments. Breakthrough, an impact fund backed by such multibillionaires as Michael Bloomberg and Bill Gates, first invested in CarbonCure in September 2018.
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