
Displaying items by tag: finance
US: Block-Lite plans to install a system to cure concrete blocks using direct air capture (DAC)-sourced CO2 at its Flagstaff, Arizona, concrete block plant. The upgrade will implement CarbonBuilt’s low-CO2 concrete production technology and AirCapture’s modular DAC technology, across five or six capture units. Direct air capture will thus remove 500 – 600t/yr of CO2 from the atmosphere, while process changes will reduce CO2 emissions from the Flagstaff plant by over 2000t/yr. The project has attracted fundraising from the 4 Corners Carbon Coalition (4CCC), with a goal of US$50,000. The Arizon Daily Sun newspaper has reported that Block-Lite plans to supply its first shipment of low-CO2 blocks to a 50-home development by Habitat for Humanity in Flagstaff.
SRM Concrete secures US$300m loan add-on
27 February 2023US: SRM Concrete has borrowed US$300m as an add-on to its senior secured term loan. Moody's Investor Services reported that part of the funds will pay off SRM Concrete's US$130m seller note issued for its acquisition of USC Atlantic from Vulcan Materials in November 2022.