PISCATAWAY, N.J.--(BUSINESS WIRE)--Solidia Technologies® today announced a $78 million fundraise and named concrete industry leader Bryan Kalbfleisch as CEO.
The funding round attracted a range of leading investors committed to advancing low-carbon solutions for industry. Imperative Ventures and Zero Carbon Partners led the round and were joined by new investors Canada Pension Plan Investment Board (CPP Investments), Breakthrough Energy Ventures, Prelude Ventures, and PIVA Capital. Existing investors John Doerr, BP, OGCI Climate Investments, and Bill Joy demonstrated their ongoing commitment by investing additional funds.
By reducing CO2 emissions in the production of cement and consuming carbon in the production of concrete, Solidia significantly reduces the carbon footprint of an industry responsible for 8% of global emissions. The new funding will support the continued development and deployment of these leading technologies to accelerate the decarbonization of critical building materials industries.
“Joining Solidia provides me the rare privilege of helping move cement and concrete into their next generation with higher-performing materials that are better for industry, people, and the planet,” said Bryan Kalbfleisch. “Having devoted my career to this industry, I am excited to help build a new legacy for it with the support of some of the world’s most committed leaders in advancing sustainable innovation.”
Bryan brings over two decades of experience leading manufacturing operations producing concrete, asphalt, and other building materials. He comes to Solidia from Summit Materials, a leading aggregates-based construction materials company, where he served as president of both its Texas Region and Houston-based Alleyton Resource. He also previously served as president of Fayetteville, Ark.-based APAC Central for Oldcastle (CRH), North America’s largest manufacturer of building products and materials. His career was launched in the ready-mix concrete division of Central Pre-Mix Concrete Company, a Spokane, Wash.-based firm that was sold to Oldcastle in 1997.
“Solidia creates value while lowering industrial carbon emissions and advancing solutions that use captured CO2, which is unique in the industry and aligns well with our long-term investment focus,” said Bruce Hogg, Managing Director and Head of the Sustainable Energy Group at CPP Investments. “We are pleased to have a leader of Bryan’s caliber taking Solidia to the next stage of development.”
Participants in this fundraise join Solidia’s other existing investors including Kleiner Perkins, BASF Venture Capital, LafargeHolcim, Total Carbon Neutrality Ventures, Air Liquide Venture Capital (ALIAD), and other private investors.
About Solidia Technologies®
Based in Piscataway, N.J. (USA), Solidia Technologies® helps manufacturers produce superior building and construction materials using low-carbon cement and concrete.
