Good afternoon.
My name is Natalie Giglio, and I'm here representing Carbon Upcycling Technologies. I'd like to thank you for inviting me to speak on behalf of my company today.
Carbon Upcycling's technology is simple. We capture and utilize CO2 directly in a single-step, low-energy system that uses only two main inputs. The first input is an industrial by-product or natural mineral that is typically sent to landfills. The second is CO2 directly from a point source of emissions. We combine the waste materials and CO2 in our system to produce cement replacements that actually make concrete stronger. Our technology will enable Canada to build climate-resilient concrete infrastructure.
Carbon Upcycling is a Canadian-founded company based in Calgary, Alberta. We operate a commercial facility in Calgary. Earlier this year, the Honourable Chrystia Freeland visited us to see the progress we are making in deploying CCUS in Canada. Over the last eight years, we have successfully scaled up our technology 10 million times. That scale-up was largely supported by $12 million in government funding, and now we've begun raising capital investment.
As I discussed, our first input is an industrial by-product or natural mineral. Across Canada, there are abundant supplies of these materials that are simply underutilized. Carbon Upcycling turns those materials into valuable cement replacements, so we can continue to use concrete without increased emissions. Our second input is CO2. Canada has 15 operational cement plants, each emitting CO2. Carbon Upcycling's technology directly captures and utilizes that CO2 from the cement plants before that CO2 even has a chance to enter the atmosphere.
Our technology is being scaled up in Canada today. We're working with some of the most influential partners on that journey. We partnered with the City of Calgary to deploy low-carbon concrete sidewalks, and we are actively working with some of Canada's largest cement and concrete companies.
In order to keep scaling this technology in Canada, we see three areas where we can be better supported. First, funding needs to enable technology to scale quickly. Companies and projects need to be granted funding now, so we can build our first commercial units before 2030. Second, regulatory barriers need to be reduced or removed in order to foster innovation. This can be done by adjusting federal procurement language. Third, CCUS needs to be incentivized, so it can be rapidly deployed and scaled. The investment tax credits for CCUS have set a solid framework for supporting companies like ours. We have submitted our recommendations on ITCs, so they can better support a more holistic CCUS ecosystem within Canada.
With that, I hope you continue to support and follow our journey, as we're on track to becoming one of the most impactful carbon utilization companies of this decade. If you are ever in Calgary, I would be more than happy to host a tour at our facility.
Thank you.