Fortera is a materials technology company that has developed a process to produce low-carbon cement by converting CO2 into a cement material. Its patented technology reduces emissions by around 60% compared to ordinary Portland cement while providing comparable performance. Fortera opened its first commercial plant in Redding, California in 2023, which will manufacture 15,000 tons of low-carbon cement annually while capturing 6,600 tons of CO2 from an adjacent cement plant.
Fortera was founded in 2019 by Dr. Ryan Gilliam (CEO) and a team of industry experts. The company is headquartered in San Jose, California and has raised $30 million in Series B funding co-led by Temasek and Khosla Ventures to commercialize its technology. Fortera aims to build 5-7 commercial-scale plants in the next five years, primarily in the U.S., to further scale its CO2 utilization technology.
As a mission-driven company taking on the challenge of decarbonizing the hard-to-abate cement industry, Fortera offers employees the opportunity to have a massive positive environmental impact. However, the capital-intensive nature of constructing multiple commercial plants in a short timeframe poses a significant financing risk that Fortera will need to navigate to achieve its ambitious growth goals.
2019
Founded
50-100
Employees
Series C
Stage
$300-$400M
Latest Valuation
$100-200M
Total Funding
Mar 14 2024
Last Fundraise
Why is the rating
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