BDC Capital invests in Giatec, a global leading cleantech company, to further CO2-reducing technology and AI-based concrete testing.
OTTAWA, Ontario – Giatec®, a world leader in concrete testing technologies, secured a $5 million investment from BDC Capital’s Cleantech Practice, augmenting the strategic minority investment by HeidelbergCement in May 2022.
BDC Capital’s investment will advance Giatec’s goal in lowering CO2 emissions resulting from concrete production by 400 million tons annually, the equivalent of taking 110 million cars off the road. Every year, 20 billion tons (10 billion cubic yards) of concrete are produced globally. This translates to approximately 2 billion tons of Greenhouse Gas (GHG) emissions or 8% of global CO2 pollution. Using their proprietary concrete testing products combined with their predictive AI-based software, Giatec’s ecosystem can help reduce CO2 emissions by up to 20%.
“Giatec’s advanced suite of wireless concrete sensors, analytics capabilities, and AI-enabled software can enable a significant reduction in the use of cement, materially reducing CO2 emissions whilst also saving concrete producers, contractors and developers time and money,” said Matt Stanley, Partner in BDC Capital’s Cleantech Practice. “We are excited to invest in Giatec, a leading technology company working to enable a more sustainable built world, to accelerate the development of the next generation of sensors and to scale internationally.”
Pouria Ghods, CEO and Co-founder of Giatec, says, ”The BDC Capital investment will propel Giatec’s expansion into international markets and accelerate our innovation in CO2-reducing technology, moving the concrete industry toward carbon neutrality. BDC has a long history of supporting emerging Canadian cleantech firms in their growth through exports, research and development, etc. We at Giatec are looking forward to working with BDC in our mission to revolutionize the concrete industry and to create yet another success story for the BDC Cleantech Practice.”
About BDC Capital
BDC Capital is the investment arm of BDC, the bank for Canadian entrepreneurs. With over $3 billion under management, BDC Capital serves as a strategic partner to the country’s most innovative firms. It offers businesses a full spectrum of capital, from seed investments to growth equity, supporting Canadian entrepreneurs who have the ambition to stand out on the world stage. Visit bdc.ca/capital.
Giatec is a global company revolutionizing the construction industry by bringing smart testing technologies and real-time data collection to the forefront of every job site. Giatec’s suite of hardware and software products has leveraged advanced technologies, such as AI and Internet of Things (IoT), including wireless concrete sensors, mobile apps, and advanced non-destructive testing technologies (NDT), to drive innovation throughout concrete’s lifecycle and reduce concrete’s carbon footprint. For more information, visit giatecscientific.com.
Dobrila Moogk, Vice President, Marketing
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