Recently, CarbonMiner secured tens of millions in angel round financing, led by the Hong Kong X Foundation (HKX), with co-investments from Ronghan Fund and Gao Shi Capital. Gao Shi Capital will also served as the exclusive financial advisor. The funding will be utilized for technology R&D, team building, and market expansion.
CarbonMiner founded in 2021, is a pioneer in the commercial application of carbon fixation technology. The company is dedicated to advancing innovative CO2 conversion technologies, delivering a comprehensive one-stop solution for circular energy processing and CO2 mineralization in cement and concrete. This solution spans the entire process, from coal fuel intake at thermal power plants to the effective treatment of waste generated after power generation.
At present, the core products include “Obrick” Green Carbon Cube and other cement-based carbon-fixed concrete products, which could be applied in construction, transportation, water conservancy, and decoration. Collaborative projects are primarily located in the Guangdong-Hong Kong-Macao Greater Bay Area, the Guanzhong Plain urban agglomeration, and the Chengdu-Chongqing urban agglomeration.
CarbonMiner is headquartered in Shenzhen and has a R&D center in Xi’an. The R&D team is comprised of professionals from Chang An University, known as the "Huangpu Military Academy" of the highway and transportation sector. The Chang An University os also one of the first 211 key universities directly under the Ministry of Education.
The core founding team of the company comprises experts from the fields of power energy, concrete, and CO2 mineralization research and application. They possess extensive experience in technology research and development, strong product development capabilities, with a wealth of commercial resources.
Grounded in the Bay Area, Aiming Globally
Continuously Expanding Multi-Scenario Carbon Sequestration Solutions
In late July, CarbonMiner collaborated with Guangzhou Development Environmental Building Materials Co., Ltd., one of the largest autoclaved block suppliers in the Greater Bay Area, to establish the country’s first carbon-fixed AAC block production line.
This production line integrates carbon fixation technology, techniques, equipments, and a central control system, enabling the intelligent and stable production of CarbonMiner's signature carbon-fixed product: the “Obrick” Green Carbon Cube.
In terms of emissions reduction, the Obrick can mineralize and absorb up to 50 kilograms of CO2 per cubic meter while reducing 92 kilograms of invisible carbon emissions. With a designed annual capacity of 300,000 cubic meters for the Obrick the production line can reduce 42.6 million kilograms of CO2 annually, equivalent to planting approximately 19.36 million trees each year.
Regarding product performance, the Obrick reduces cement usage while enhancing the crack resistance and durability of concrete blocks. Mechanical performance tests indicate that, compared to traditional autoclaved blocks, the Obrick shows a 10% improvement in lightweight reduction, seismic resistance, thermal insulation, and sound insulation.
CarbonMiner has already signed strategic cooperation agreements with several major clients, including the Architectural Design and Research Institute of Tongji University (Group) Co., Ltd., Xi'an Construction Engineering Second Group, and Xi'an Construction Engineering Sixth Group, steadily advancing collaboration. Notably, the establishment of the first carbon-fixed AAC block production line in partnership with a state-owned enterprise is expected to achieve profitability in its first year operation, which marking the initial realization of a closed-loop business model.
In the future, CarbonMiner aims to use Hong Kong as a gateway to expand globally, targeting markets in the Middle East and Europe, then be out-standing in the world.
Investor Insights
Chen Yeyu, Investment Director, Hong Kong X Foundation (HKX)
The CarbonMiner team has deep expertise in the electric power field, with extensive experience in the research and practical application of CO2 mineralization and fixation technology. Through its self-developed OCMC mineralization technology, the company could permanently fixed CO2 in concrete, truly achieving a closed-loop for CCUS application.
CarbonMiner represents a key investment for HKX in the dual carbon, new materials, and new energy sectors. Throughout the team incubation process, we have observed that the team, led by CEO Chen Yu (Steve), is highly pragmatic and action-oriented. We are enthusiastic about collaborating closely with them and are actively supporting the CarbonMiner in establishing a presence in Hong Kong while expanding into markets such as the Middle East.