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Calgary Herald

'Stamp of approval': Calgary-based company wins global climate solutions prize

Calgary-based Carbon Upcycling is garnering global attention after taking home a prestigious award for pioneering climate solutions. Article content In eight years, the Keeling Curve Prize — part of the Global Warming Mitigation Project — has awarded $2.75 million to 80 organizations. Those winners have gone on to secure more than $2.75 billion in additional funding. Article content Article content The company had applied for the prize multiple years in a row, and was 'elated' to receive it this year, Luu said. Article content 'Some of these previous companies that have been recognized are the world's leading carbon capture, utilization and storage companies,' he said. Article content Iceland-based Carbfix is among the previous recipients, known for its project that turns carbon dioxide into minerals. That project was estimated to have a total investment of $265 million in 2021. Article content Turning steel byprouducts into a cement with a lower carbon output Article content 'For Carbon Upcycling, as a Calgary company, to be recognized on this world stage for carbon capture and utilization, not storage, is fantastic,' said Luu. 'It truly is a testament and a nod, or a stamp of approval, to the work that we're doing.' Article content Article content Carbon capture and utilization differs from carbon capture and storage in that the former repurposes carbon in some way, rather than storing it. Article content The company has amassed US$70 million in capital funding and grants since it was founded in 2014, largely with its 'CUT CO2' system, which turns industrial waste byproducts into materials for low-carbon cement production. Article content Steel slag, a byproduct of steel production, and fly ash, a byproduct from burning coal — are both often landfilled or stockpiled. The company reclaims them to help create cement. Article content The system also uses various clays, which are found everywhere from mining to your backyard. Article content 'We'll take one of these different feedstock materials and we'll process it through our CUT CO2 system,' said Luu.