O'Shaughnessy Ventures has announced it is a seed investor in Furno Materials, a startup focused on innovating cement production for sustainability. Furno's goal: to produce zero-emission Portland cement.
Founded in 2020 by Gurinder Nagra, Furno, headquartered in Mountainview, Calif., specializes in modular cement plants designed to be more carbon-efficient, cost-effective, and space-saving compared with traditional plants.
Cement production is a significant source of global carbon dioxide emissions, accounting for 8% of the global total. Furno's modular plants burn natural gas instead of coal, resulting in reduced emissions. The plants' compact design allows for easier transportation and installation, which is particularly beneficial in developing markets where space is often constrained.
Jim O'Shaughnessy, founder of investment firm O'Shaughnessy Ventures (OSV), highlighted the importance of sustainable cement production as economies expand and infrastructure is upgraded worldwide. "While it may not get as much attention as other technologies, commodity production plays a critical role in building the world around us," he said in a recent news release. "As developing economies continue to build and developed nations update their infrastructure, cement will only become more important."
The investment in Furno by OSV represents a significant step toward advancing sustainable solutions in the cement industry. By addressing environmental concerns and enhancing efficiency, the companies aim to contribute to a more sustainable global economy.
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