Japanese investment accelerates Aussie cleantech

Mitsubishi Ube Cement Corporation (MUCC), a joint venture between Mitsubishi Materials and Ube Cement, has announced a US$5 million investment into MCi Carbon (MCi).

MCi is an Australian clean technology company currently scaling a mineral carbonation platform to capture and transform carbon dioxide (CO₂) into building products and other valuable materials for the circular carbon economy.

This is MUCC’s first investment into the field of mineral carbonation and carbon capture and utilisation. The company is the fourth major Japanese industry partner to invest in MCi Carbon, joining ITOCHU Corporation, Mizuho Bank and Sumitomo Mitsui Trust Bank.

As part of the investment, the parties have also agreed to a long-term collaboration that is said to capitalise on MUCC’s cement industry knowledge and MCi’s leadership in mineral carbonation technology. MUCC and ITOCHU Corporation have also executed a three-way memorandum of understanding with MCi, covering a range of activities to further advance MUCC’s adoption of MCi’s technology in Japan.

Image caption: Mitsubishi Ube Cement Corporation (MUCC) with MCi Carbon’s co-founder Marcus Dawe.

MUCC’s collaboration with MCi is set to accelerate the decarbonisation of cement and concrete in Japan through both the direct abatement of CO₂ emissions and development of novel low-carbon materials from MUCC’s CO₂ emissions that can be re-used in its cement process or elsewhere in the Japanese economy. The company’s investment is said to serve as a catalyst for the global cement and concrete sectors as they transition towards sustainable production methods.

“By partnering with us, MUCC brings tangible momentum to integrating mineral carbonation into the Japanese cement industry,” said MCi Carbon co-founder and CEO Marcus Dawe. “As we strengthen our ties with forward-looking partners like MUCC, ITOCHU and Taisei, we move closer to large-scale deployment that reduces emissions, delivers profitable outcomes and firmly aligns with Japan’s climate ambitions.”

This investment directly supports the commissioning of ‘Myrtle’, MCi Carbon’s mineral carbonation demonstration plant in Australia. The plant will showcase mineral carbonation’s commercial scalability, encouraging both Australian and Japanese stakeholders to adopt and refine technologies that minimise environmental impact.

The partnership will also fast-track business development plans for introducing MCi Carbon’s technology into the Japanese cement industry, paving the way for new low-carbon materials and sustainable construction solutions.

Suzuki Kazuhiro, ambassador of Japan to Australia, attended the Myrtle Foundation Ceremony in April 2024 as construction commenced and said, “The Japanese Government recognises the great potential in developing CCUS technologies. The technology MCi Carbon is developing will enable CO₂ to be captured in a stable manner in minerals. This is a prominent option for reducing CO₂ emissions in hard-to-abate sectors such as cement and concrete production.

“The Myrtle project symbolises collaborative investment between Japan and Australia.”

Images supplied by MCi Carbon.