Clean Tech Company MCi Carbon Secures US$5 Million Investment from Mizuho Bank

Japanese lender Mizuho Bank announced a US$5 million investment in Australian firm MCi Carbon, a clean technology company engaged in decarbonising global industries by carbon dioxide capture and utilisation (CCU).

Mizuho Bank has begun operating a ‘Transition Investment Facility’ by committing equity investments towards seed or early-stage corporations to support the challenges Mizuho clients have in funding sustainability initiatives.

Sharing both opportunity and risk through such investments, Mizuho Bank said it aims to co-create social value and contribute to the sustainability of the environment and society.

“With an investment from Mizuho Bank, it is evident that Japan’s banks and industries are future-proofing their economies and securing strategic advantages for their partnerships and exports for the new circular carbon economy,” said MCi Carbon co-founder and CEO Marcus Dawe.

“Japan has joined MCi on the race to net zero, and this is a call to other forward thinkers,” added Dawe.

MCi Carbon uses a chemical engineering process called mineral carbonation to create valuable inputs into building materials and other products using captured industrial emissions. Diverting carbon dioxide (CO2) from entering the atmosphere, MCi technology reacts CO2 from steel, cement, fertilisers, and mining facilities with mineral by-products of industrial processes, such as steel slag and mine tailings.

MCi can create carbon neutral and negative emissions calcium and magnesium carbonates, amorphous silicas, and other inputs for a range of applications in the circular carbon economy.

The company has grown significantly in recent years, following the award of an AUD$14.6 million Australian Federal government grant to build one of the world’s first mineral carbonation demonstration plants at Orica’s Kooragang Island manufacturing site, using mineral carbonation to prevent emissions from entering the atmosphere.

In February 2023, MCi announced a multi-million dollar investment from RHI Magnesita, the world’s leader in refractories products, and signed up the Austrian company as its first global commercial customer.

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