Furno, a Mountain View, CA-based startup dedicated to decarbonizing the cement production industry, raised $6.5M in Seed funding.
The round was led by Energy Capital Ventures and joined by O’Shaughnessy Ventures, Cantos, and Neotribe. Breakthrough Energy participated in earlier, non-dilutive funding.
The company intends to use the funds to continue to scale its technology, provide more customers with samples to garner feedback and aid in the development of the Furno Brick.
Led by Gurinder Nagra, Furno is an earth-first, science-backed startup committed to mitigating climate change through its novel combustion technology, which reduces the carbon footprint associated with traditional cement production. With it, customers can develop their own modular cement plants that scale on demand at an accessible price point.
The company introduced its end-to-end cement production unit, the Furno Brick, whose reactor – coupled with its novel combustion technology – combines four stages into one compact reactor, reducing cost and the carbon, as well as physical footprint.
The company’s novel kiln and combustion technology allows for efficient cement production using gas-based versus solid fuels, which reduces CO2 emissions and eliminates nitrogen oxides (NOx) and sulfur oxides (SOx) entirely.
Commenting on the news, Gurinder Nagra said: “Our cement far exceeds ASTM standards, a bare-minimum quality threshold. While most companies tout meeting these standards and stop there, we have continued to refine our process and are on target to surpass the even higher commercial requirements set by significantly-sized customers eager for our solution.”
FinSMEs
13/03/2024