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Feb 2, 2024

O'Shaughnessy Ventures Invests in Furno Materials to Advance Sustainable Cement Production

O'Shaughnessy Ventures Invests in Furno Materials to Advance Sustainable Cement Production

Image: bannafarsai | AdobeStock

O'Shaughnessy Ventures has announced its investment in Furno Materials, a startup focused on innovating cement production for sustainability. Founded in 2020 by Gurinder Nagra, Furno specializes in modular cement plants designed to be more carbon-efficient, cost-effective, and space-saving compared to traditional plants.

Cement production is a significant source of global carbon dioxide emissions, accounting for 8% of the total. Furno's modular plants burn natural gas instead of coal, resulting in reduced emissions. Their compact design allows for easier transportation and installation, particularly beneficial in developing markets with space constraints.

Jim O'Shaughnessy, founder of 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. "As developing economies continue to build and developed nations update their infrastructure, cement will only become more important."

The partnership between OSV and Furno represents a significant step towards advancing sustainable solutions in the cement industry. By addressing environmental concerns and enhancing efficiency, they aim to contribute to a more sustainable global economy.