MCi Carbon, a Canberra-based startup, announced on Wednesday that it has secured a $5 million investment from Japan's Mitsubishi Ube Cement. The partnership marks a significant step in MCi Carbon's strategy to collaborate with Japanese companies in the commercialization of its cutting-edge decarbonization technology. Founded in 2013, the startup has already drawn attention from major Japanese investors, including Itochu, Mizuho Bank, and Sumitomo Mitsui Trust Bank.
The collaboration with Mitsubishi Ube Cement, Japan's second-largest cement company, focuses on recycling carbon emitted during cement production. This initiative underlines MCi Carbon's commitment to advancing its decarbonization technology through strategic partnerships in Japan. The startup aims to leverage the investment to further develop and refine its innovative solutions, addressing the pressing issue of carbon emissions in the cement industry.
The partnership between MCi Carbon and Mitsubishi Ube Cement builds on the startup's history of securing substantial financial backing. In 2021, MCi Carbon received a grant of 14.6 million Australian dollars ($9 million) from the Australian government, which bolstered its research and development efforts. This latest investment from Mitsubishi Ube Cement further solidifies the company's position as a leader in carbon recycling technology.
MCi Carbon's focus on Japanese companies reflects its strategic approach to expanding its reach and influence in the global market. By aligning with prominent players in the cement industry, the startup seeks to implement its decarbonization technology on a larger scale, ultimately contributing to global efforts in reducing carbon footprints.
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