BDC Capital’s investment will propel Giatec’s expansion into international markets and accelerate our innovation in CO2 emissions reduction technology, driving the concrete industry towards carbon neutrality.
OTTAWA, Ontario (RPWEB)
September 20, 2022
Giatec®, a global leader in concrete testing technologies, secured a $5 million investment from BDC Capital’s Cleantech practice, increasing HeidelbergCement’s strategic minority investment in May 2022.
BDC Capital’s investment will advance Giatec’s goal of reducing CO2 emissions from concrete production by 400 million tonnes per year, the equivalent of taking 110 million cars off the road. Each year, 20 billion tons (10 billion cubic meters) of concrete are produced worldwide. This translates to approximately 2 billion tonnes of greenhouse gas (GHG) emissions or 8% of global CO2 pollution. Using their proprietary concrete testing products combined with their AI-based predictive software, Giatec’s ecosystem can help reduce CO2 emissions by up to 20%.
“Giatec’s advanced suite of wireless concrete sensors, analytics capabilities and AI-enabled software can enable a significant reduction in cement usage, dramatically reducing CO2 emissions while enabling producers to concrete, contractors and developers to save time and money,” said Matt Stanley, Partner in BDC Capital’s Cleantech practice. “We are thrilled to invest in Giatec, a leading technology company working to enable a more sustainable built world, to accelerate the development of the next generation of sensors and to scale internationally.”
Pouria Ghods, CEO and co-founder of Giatec, said: “BDC Capital’s investment will propel Giatec’s expansion into international markets and accelerate our innovation in CO2 emissions reduction technology, bringing the industry from concrete to carbon neutrality. BDC has a long history of supporting emerging Canadian cleantech companies as they grow through exports, research and development, and more. At Giatec, we look forward to working with BDC in our mission to revolutionize the concrete industry and create another success story for BDC’s Cleantech practice.
About BDC Capital
BDC Capital is the investment arm of BDC, the bank for Canadian entrepreneurs. With more than $3 billion under management, BDC Capital is a strategic partner for the country’s most innovative companies. It offers businesses a full range of capital, from seed investment to growth capital, supporting Canadian entrepreneurs who have the ambition to stand out on the world stage. Visit bdc.ca/capital.
Giatec is a global company revolutionizing the construction industry by bringing smart testing technologies and real-time data collection to the forefront of every jobsite. Giatec’s hardware and software product suite leverages advanced technologies, such as AI and the Internet of Things (IoT), including wireless concrete sensors, mobile apps, and advanced technologies from non-destructive testing (NDT), to drive innovation throughout the life cycle of concrete and reduce the carbon footprint of concrete. For more information, visit giatecscientific.com.
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