Travertine, a Boulder, CO-based company enabling carbon-negative, zero-waste critical element extraction for mining and fertilizer operations, raised $8.5M in funding.
The round was co-led by Holcim MAQER Ventures, with participation from the Grantham Foundation for the Protection of the Environment, Clean Energy Ventures and Bidra Innovation Ventures.
The company intends to use the funds to expand operations and its development efforts.
Led by CEO and Founder Laura Lammers, Travertine is enabling carbon-negative, zero-waste critical element extraction for mining and fertilizer operations around the world. The platform technology upcycles industrial sulfate waste and CO2 captured directly from the air into sulfuric acid and carbonate advanced cement components that permanently sequester CO2. Sulfuric acid is the leading industrial chemical used to extract phosphorus, lithium, nickel, and other critical elements from ores. By eliminating sulfate wastes produced by conventional extractive processes, Travertine’s technology solves an environmental problem that has challenged the fertilizer and mining industries for decades.
The company has upcycled sulfate waste from major fertilizer and mining companies across the globe in its fully-integrated, continuous-flow pilot and is currently focused on engineering and scale-up for a first commercial demonstration plant.
Based in Boulder, Colorado, USA, Travertine spun out of Lammers’ lab at the University of California, Berkeley in 2022. In addition to funding, the company will benefit from access to Holcim’s large network of global operations and longstanding technical expertise in everything from material science to carbon capture and beyond.
FinSMEs
26/06/2024