TOKYO -- Australian startup MCi Carbon is focusing on Japanese companies as partners for commercializing its decarbonization technology, having just agreed with Japan's second largest cement company to work on recycling carbon emitted from the production of cement.
MCi received investment of $5 million from Japan's Mitsubishi Ube Cement, the companies said Wednesday. The Canberra-based startup was founded in 2013 and already has three other major Japanese investors: Itochu, Mizuho Bank and Sumitomo Mitsui Trust Bank. It has also received a 14.6 million Australian dollar ($9 million) grant from the Australian government in 2021.
