Utrecht-based C2CA Technology (Concrete to Cement & Aggregates), a spin-out of TU Delft in the Netherlands, announced that it has received investment from Chrysalix Venture Capital.
Besides funding, the Dutch company also announced the appointment of Thomas Petithuguenin as its new CEO and Carsten Riisberg Lund as an Independent Board Member.
“These outstanding candidates were sourced from Chrysalix’s extensive global network and are a demonstration of the firm’s hands-on support in company building,” says C2CA.
The company says that Thomas has carried his passion for sustainability throughout his career and has a proven track record of delivering innovative decarbonisation solutions with commercial success.
He has six years of experience at FLSmidth. He also has a diverse background with previous positions at Airbus, Lawrence Berkeley National Labs, and the French Development Agency.
Petithuguenin says, “I’m thrilled to join C2CA at this critical stage in the company’s growth, and I’m delighted that Chrysalix has joined us in our Seed financing. Their expertise, industry connections, and financial backing give us the ability to accelerate our growth with confidence.”
“We’re also excited to welcome Carsten Riisberg Lund to our board, bringing his impressive experience in reducing industrial CO2 emissions. It’s an exciting time for C2CA, and we’re ready to scale up for the future,” adds Thomas.
On the other hand, Lund is a proven business leader with extensive global B2B experience, seasoned through Global C-level executive and CEO roles.
Carsten has been successful in reducing the CO2 emissions from cement production by more than 50 per cent and creating the strategic roadmap to zero emissions by 2030 for such industries.
C2CA: Concrete recycling
Founded in 2016, C2CA Technology is a partnership between GBN Group and TU Delft that originated in 2016 as a spin-off from a European research project.
C2CA is developing a low-cost scalable solution for concrete recycling that creates high-quality materials for new concrete, enabling the substitution of cement, sand, and gravel.
The company aims to transform waste concrete into sustainable building materials, replacing virgin aggregates, sand, and cement to mitigate 8 per cent of global CO2 emissions.
C2CA says that its recycling solution can operate in any weather without any special pre-treatment. Further, it can be used in new circular concrete, and a new commercial-scale recycling plant is planned for 2023.
The Investor
Based out of Vancouver, Chrysalix Venture Capital is a global technology venture capital firm that specialises in transformational industrial innovation.
“The potential worldwide for more sustainable concrete recycling is enormous. C2CA Technology has shown in practice that demolition concrete can be fully used in new concrete, creating 100% circular concrete. In the Netherlands alone, 13 million tons per year of waste concrete are recyclable,” says Fred van Beuningen, Managing Partner at Chrysalix Venture Capital.
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