MCi Carbon, an Australian cleantech startup, is planning a US$50 million capital raise after opening its Myrtle carbon refinery in Newcastle. The company's technology captures industrial CO2 and embeds it into building materials like brick, glass, and cement, reducing emissions from both manufacturing and construction. The plant will let customers test how their own CO2 can be recycled into usable products. CEO Marcus Dawe says the company has raised $40 million so far, mostly from Japanese strategic investors like Mitsubishi UBE Cement and Sumitomo Mitsui. He is targeting another $50 million from European and Japanese backers this year, with a long-term goal of deploying $10 billion by 2035. MCi Carbon also received $40 million in federal grants and is generating low millions in annual revenue.
