CDR Innovator Interview - Carbon Limit

'Unbound Showcase' is a globe-spanning series of interviews with pioneers of carbon dioxide removal (CDR). We’re questioning innovators, business leaders, policymakers, academics, buyers and investors taking on the challenge of our lifetime - gigaton-scale carbon removal from the earth's atmosphere.

Today’s interview is with Tim Sperry , CEO of Carbon Capture Tech innovator Carbon Limit .

“What is Carbon Limit?”

Tim Sperry - Carbon Limit is a climate tech company in South Florida on a mission to reduce CO2 emissions to cool down our planet. To do that, we're creating and commercializing the most sustainable technologies for the built environment, specifically concrete, starting with our flagship technology, CaptureCrete®. It's a powder additive that you mix into concrete, giving it the ability to capture and store CO2 directly from the air. Built environment projects utilizing CaptureCrete® also generate high quality carbon credits, enabling businesses to be sustainable, both environmentally and economically.

"What was the inspiration that led to your carbon removal business?"

Tim Sperry - We’ve always been into carbon climate tech and creating simple solutions that help the environment. Three of our team members and I exited our previous climate tech company and started Carbon Limit on a mission to find a way to reach the gigaton scale. Eight months into our progress, we entered into the TechStars program and went through Mentor Madness, working with 90 mentors for two weeks straight with 10-minute breaks between each session. It was a non-stop process. At that time, we were pitching our business model and gathering feedback, which presented a need for us to pivot from our original idea - a portable Direct Air Capture (DAC) system - and adjust the technology to put it into concrete itself. Of course, the process was easier said than done, but we saw a major opportunity early on and decided to adapt since the concrete industry is one of the main and biggest contributors to CO2 pollution.

“In terms of the timings of that journey. Can you give us a few milestones from when this happened?”

Tim Sperry -  When we created our DAC unit, we incorporated an active mineral that took the scrubber material out and reformulated it to replace a portion of traditional cement, which contributes to the large carbon footprint associated with concrete and is responsible for holding it together like glue. That was an extensive process. We had to create commercial and MVP tests to ensure it worked and functioned like regular concrete. Many iterations went through the lab. Once we found that it worked as concrete we asked, “does it capture CO2?” and “is there a net addition?” A big part of this process, and what we spent the last two and a half years doing, was getting ASTM specifications and validating the carbon credits.

That was a massive crossing of the chasm because, as many may understand, all these new technologies don't necessarily fit into existing standards or categories, and we fit into two! We're a DAC and carbon mineralization technology combined in one hybrid solution that is easily adoptable and scalable. So, with these two novel technologies, quantifying and combining them was the first tricky task at hand. Once we did though, we were able to secure our IP and then license the product. An early success for us was having Google use CaptureCrete® at their Innovation Center in California. Then, we executed another project with the Minnesota Department of Transportation. We will be the first to say we are not a material company but a technology company. We license our formula to cement and concrete producers. They make carbon-capturing concrete with CaptureCrete, and then we generate and issue carbon credits to sell and share the revenue.

"Can you share that 'aha' breakthrough in your business's journey that left you especially excited about its potential?"

Tim Sperry - That moment was when we got our first lab test back comparing baseline carbon capture to concrete made with CaptureCrete®, proving that our product indeed worked. Before that it was theoretical. You assume, hope, and pray it’ll work when you’re putting things together that have never been done before. That was inspiring, especially when considering the fact that we were injecting one of the planet’s biggest polluting materials with carbon capture abilities.

I’d say another breakthrough moment was when we completed our first project with the Department of Transportation in Minnesota. We walked onto the expressway that was paved with CaptureCrete® and felt an overwhelming sense of pride knowing our CO2-absorbing product could be turned into something cars would be driving on every day, all while helping the environment.

"What have you found the best way of garnering investor or buyer attention?"

Tim Sperry - Three clear things: affordability, adaptability, and scalability. Our technology doesn't need a big piece of new equipment at a symmetric concrete facility; rather you're adding this just like you would any other addition to a concrete design mix. That makes our product much more cost-effective than other CO2-capturing technology, and easy to use too. By adding the ability for companies to license our formula, we created a much more seamless road for adoption and scalability by putting the power of carbon capture technology directly in the hands of our customers.

"How are you approaching scalability, and what tools or strategies have proven most effective in levelling up your solution?"

Tim Sperry - We're working on a solid, duplicable foundation in the States. With ASTM specifications met, it's easier for us to get spec'd into projects and for companies to adopt CaptureCrete® with less risk. Ultimately, our goal is to solidify the foundation of our licensing protocol, how we work with customers, how we do site visits, and how we make sure that they're integrating and storing it properly. That way when it’s time to generate carbon credits, we have everything we need to show they’re following protocols according to Carbon methodology requirements.

In terms of international expansion, we already have strong interest from the Middle East. They work under ASTM specifications making the process of supporting their projects similar to how we’re doing it in the United States. We're also in the process of reviewing giga projects that would take us further into the MENA region, Latin America, Canada, and Europe. Some of our current specifications need to be adjusted to meet their standards which will take some time, but we’re confident in our ability to do so and are already on track to start nailing some of these down by late 2024.

Throughout the industry, younger generations are starting to take over, bringing a hunger for sustainable technology with them. They’re proving more willing to adopt new technologies as long as you can define the risk and value propositions associated. Therefore, it’s a great time for us to get in front of a new generation as we continue to define our licensing process and capabilities.

“Is Capturecrete mainly used in roads, or is it used in buildings as well?”

Tim Sperry - It can be used in both. Currently, we promote its use in precast concrete blocks. However, through our current Department of Defense grant with the U.S. Army Corps of Engineers, we’re working diligently on durability and other tests to confirm its safe usage in rebar-reinforced vertical structures. We don't see any issues with doing so but want to back it up with data before promoting. Luckily, most of the built environment projects taking place in and around our backyard market of South Florida are made with concrete blocks and don't touch rebar. Any that do can typically incorporate cleaner rebar alternatives, like fiberglass or basalt, which can be mixed with CaptureCrete®.

“What's the biggest challenge your business is facing in 2024, and what do you think is required to solve it?”

Tim Sperry - The sales cycle has been a lot longer than anticipated due to the time it takes to test CaptureCrete’s® carbon capture levels. That's one of our biggest hurdles because it slows down the rate of adoption. But as we gather more data showcasing its capabilities, we'll be able to turn them around on a much quicker timeline. We’re also experiencing significantly more interest in selling carbon credits than we're currently projected to make, so getting new licensees on board to get projects going and carbon credits brewing is another key task of 2024 and beyond.

“What risks, from an industry perspective, should we be aware of in the next 18 months if we are to see the scale necessary to hit 2030 targets? It’s just 24 business quarters away.” 

Tim Sperry - It's the rate of adoption in our industry. That's one of the biggest components. For us, but we're ready. We're constantly working on optimizing our technology to increase the amount of CDR per ton of concrete, but data adoption rates will be critical in driving this. It's ramping up at the proper trajectory and hopefully that will continue.

Unbound Summits’ mission focuses on unrivalled connections, new insights and unbound CDR opportunities. Learn more about Carbon Limit’s unique product, Capturecrete, here.