Mitsubishi UBE Cement Corp (MUCC) has invested US$5m in Australia-based clean tech company MCi Carbon, the fourth Japanese company to support MCi Carbon, after ITOCHU Corp, Mizuho Bank and Sumitomo Mitsui Trust Bank.
The investment includes a long-term collaboration agreement, leveraging MUCC’s cement expertise and MCi’s mineral carbonation technology.
“Through this investment and the signing of the collaboration agreement, it is expected that a demonstration-scale mineral carbonation technology that produces high-quality carbonates from CO2 emitted from waste concrete, slag, and cement plants at high efficiency and low cost will be established. In addition to the treatment of waste concrete and other waste materials and the utilisation of CO2, MUCC will also develop products that utilise the carbonates as cement additives, new construction materials, and new high-performance products in other fields and consider commercialising the technology in Japan,” said the cement producer in a statement.
The companies have also signed a three-way Memorandum of Understanding with ITOCHU to accelerate adoption in Japan. The MoU is expected to lead to the use of MCi’s mineral carbonation technology to transform MUCC into a low-carbon business and considering the development and commercialisation of mineral carbonation products.
“As we strengthen our ties with forward-looking partners like MUCC, ITOCHU, and Taisei, we move closer to large-scale deployment that reduces emissions, delivers profitable outcomes, and firmly aligns with Japan’s climate ambitions,” MCi Carbon Founder and CEO, Marcus Dawe, said.
MUCC Managing Executive Officer, Hisanobu Tanaka, said that collaborating with MCi Carbon would create new value by enabling long-term carbon stabilisation from cement plants and other sources.
The step strengthens the cement producer’s position as a leader in low-carbon cement innovation.
“In addition to this initiative, MUCC will take on the challenge of doing new initiatives through partnerships with startup companies in Japan and overseas and continue its efforts to become the industry leader in carbon neutrality,” said MUCC.
