Chrysalix News

Chrysalix venture capital announces new investment in C2CA technology, the next generation in concrete recycling

Mar 7, 2023

Chrysalix Venture Capital, a global technology venture capital firm that specializes in transformational industrial innovation, announces a new investment in C2CA Technology, a spin-out of TU Delft in the Netherlands. C2CA is developing a low-cost and scalable solution for concrete recycling that creates high-quality materials for new concrete, thereby enabling substitution of cement, sand and gravel to efficiently decarbonize the cement & concrete industry. GBN, an innovative Dutch recycling company, co-founder and shareholder of C2CA, has played a key role in supporting the company and will continue to be a key partner for C2CA’s growth in the Netherlands.

“We are very pleased with Chrysalix’s investment. Their strategic knowledge, network of leading companies, and financial support give C2CA the power to accelerate. That gives us a lot of confidence for the future,” said Eric van Roekel, CEO at GBN.

“The potential worldwide for more sustainable concrete recycling is enormous. C2CA Technology has shown in practice that demolition concrete can be fully used in new concrete, creating 100% circular concrete. In the Netherlands alone, 13 million tons per year of waste concrete are recyclable,” said Fred van Beuningen, Managing Partner at Chrysalix Venture Capital.

In addition to this new investment, Chrysalix was also instrumental in securing a new CEO, Thomas Petithuguenin, and Independent Board Member, Carsten Riisberg Lund, for C2CA. These outstanding candidates were sourced from Chrysalix’s extensive global network and are a demonstration of the firm’s hands-on support in company building.

Thomas has carried his passion for sustainability throughout his career and has a proven track record of delivering innovative decarbonization solutions with commercial success. With six years of experience at FLSmidth, most recently leading the Research and Partnerships team, Thomas has a wealth of knowledge and expertise in cement decarbonization. He has a diverse background with previous positions at Airbus, Lawrence Berkeley National Labs, and the French Development Agency.

“I’m thrilled to join C2CA at this critical stage in the company’s growth and I’m delighted that Chrysalix has joined us in our Seed financing. Their expertise, industry connections and financial backing give us the ability to accelerate our growth with confidence. We’re also excited to welcome Carsten Riisberg Lund to our board, bringing his impressive experience in reducing industrial CO2 emissions. It’s an exciting time for C2CA and we’re ready to scale up for the future,” said Thomas Petithuguenin, CEO of C2CA Technology B.V.

Mr. Lund is a proven business leader with extensive global B2B experience, seasoned through Global C-level executive and CEO roles. He has a lifelong commitment to sustainability and the environment, working with the green transition for hard-to-abate industries. Carsten has been successful in reducing the CO2 emissions from cement production by more than 50% and creating the strategic roadmap to zero emissions by 2030 for such industries.

C2CA’s concrete recycling solution is a game-changer. It can operate in any weather without any special pre-treatment. The process is divided into three steps: first, dry concrete rubble is separated directly from the crusher based on density and size. Then, the ultrafine fraction is separated from the sand to create a new building material with binding properties. Finally, the high-quality output materials are continuously checked for quality and purity. They can be used in new circular concrete and a new commercial-scale recycling plant is planned for 2023.

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