The agreement grants ASTEC exclusive rights in the U.S. and Canada as CarbonCure's ready mix channel partner, deploying the award-winning technology that creates high-performing, low-carbon concrete.
CHATTANOOGA, Tenn., October 1, 2021) – ASTEC (NASDAQ: ASTE), has entered a strategic partnership with CarbonCure Technologies whose product enables concrete producers to reduce their carbon footprint without sacrificing its quality and strength. The collaboration is a step forward for ASTEC as the company strengthens its commitment to sustainability under its OneASTEC business model.
The interest in low carbon concrete is increasing due to government regulations and incentives, requirements for green building certifications, and corporate sustainability initiatives. ASTEC, which includes RexCon, CON-E-CO and BMH Systems brands, has rights as CarbonCure’s exclusive channel partner in the U.S. and Canada to offer its technology to customers looking for sustainable building solutions.
Because the building and construction sector is responsible for 40 percent of global carbon emissions, environmental experts recommend Carbon Dioxide (CO2) emissions be reduced in the built environment to positively impact global warming. Concrete has a large carbon footprint due to cement production.
CarbonCure's technology easily integrates within ASTEC’s new and existing ready mix concrete plants. Their equipment reduces embodied carbon by injecting CO2 during the batching process, sequestering it within the concrete. Additionally, the CO2 creates a chemical reaction resulting in a strong, high-performing concrete while utilizing less cement. According to CarbonCure’s test data, the concrete made with its technology maintains the same quality and benefits as traditional concrete mix designs. Increasing sustainable products and services to customers is one way ASTEC is approaching its sustainability commitment.
“Sustainability is a key component of our OneASTEC business model. It’s important that we do our part in protecting the environment through our own operations and by helping our customers achieve their sustainability goals,” said Barry Ruffalo, President and CEO of Astec Industries. “CarbonCure's technology offers a real solution to reduce greenhouse gas emissions. We’re proud to facilitate that by offering the technology with our ready-mix concrete plants to our customers looking for environmentally friendly solutions.”
CarbonCure is on a mission to reduce embodied carbon in the built environment by 500 million tonnes annually by 2030. To date, CarbonCure’s concrete technology has been installed in more than 400 concrete plants around the world as the demand for low-carbon concrete increases. With this partnership, ASTEC will support the deployment of CarbonCure’s technology with the shared goal of reducing CO2 emissions in the built environment.
“Astec’s notable presence in the industry and key relationships with concrete producers make them well suited to help advance our collective vision to make our concrete technology a standard for concrete production around the globe,” said Robert Niven, Chair and CEO of CarbonCure Technologies. “Our partnership with Astec advances CarbonCure’s significant growth momentum across North America and represents a shift in our business model as we expand our product distribution channels beyond direct sales. Forming strategic partnerships with industry leaders like Astec who share our commitment to sustainable innovation will play an integral role in CarbonCure’s growth.”