Companies Mentioned
Why It Matters
The leadership change equips Carbon Upcycling to scale its carbon‑upcycling technology, accelerating decarbonization of the cement sector. It underscores a broader industry move toward commercializing low‑carbon construction solutions.
Key Takeaways
- •Markus Kritzler becomes CEO, previously CRO since 2025.
- •Former Holcim strategist, helped execute multibillion‑dollar merger.
- •Company aims global project delivery, first plant online 2026.
- •$18M USD funding accelerates commercial facility construction.
- •Cement sector emits 8% of global CO2, tech reduces footprint.
Pulse Analysis
The cement industry accounts for roughly eight percent of global CO₂ emissions, making it a prime target for innovative carbon‑reduction strategies. Carbon Upcycling’s core technology captures CO₂ and industrial waste, converting them into supplementary cementitious materials that can replace a portion of traditional clinker. By lowering the carbon intensity of concrete, the firm addresses both regulatory pressure and growing demand for greener building materials, positioning itself at the intersection of climate policy and construction economics.
Markus Kritzler’s appointment as CEO brings a rare blend of commercial acumen and deep sector knowledge. Having overseen group‑wide strategy at Holcim and played a pivotal role in the historic Holcim‑Lafarge merger, he understands the complexities of global cement supply chains and the financial dynamics of large‑scale infrastructure projects. His rapid rise from CRO to CEO reflects confidence in his ability to translate the company’s proven technology into profitable, worldwide deployments, while maintaining strong relationships with key industry partners.
The recent $18 million USD financing round, part of a larger $24.5 million CAD raise, provides the capital needed to commission Carbon Upcycling’s first commercial facility at the Ash Grove Mississauga Cement Plant. This plant will serve as a showcase for the scalability of the technology and is expected to come online within the year. As the firm expands its pipeline with two additional development projects, it joins competitors like CarbonCure and Heidelberg Materials in a rapidly evolving market where low‑carbon concrete solutions are becoming essential for meeting net‑zero targets and securing future construction contracts.
Carbon Upcycling names new CEO
Markus Kritzler is moving on up from chief revenue officer to chief executive officer at Carbon Upcycling, the company announced this morning.
Kritzler joined Carbon Upcycling in 2025. The Calgary company transforms industrial byproducts and CO2 into supplementary cementitious materials (materials added to cement to offset emissions, increase durability, and lower cost). Previously, Kritzler led group-wide strategy at sustainable construction company Holcim and played a pivotal role in the multibillion-dollar merger of Holcim and Lafarge (now Amrize).
“This is a natural evolution for Carbon Upcycling as we move from proving the technology to delivering projects globally. I’m excited to welcome Markus as our new CEO.”
Apoorv Sinha, Carbon Upcycling.
Carbon Upcycling announced the appointment on Feb. 3, with president Apoorv Sinha — who previously held the role of CEO and has since become president — calling the promotion a “natural evolution.”
“This is a natural evolution for Carbon Upcycling as we move from proving the technology to delivering projects globally,” Sinha said in a release. “I’m excited to welcome Markus as our new CEO. His executive industry experience and strategic leadership positions us well to execute on our ambitions and onshore critical cement supply chains.”
The cement industry is responsible for 8% of the world’s total CO2 emissions. Other companies like Nova Scotia’s CarbonCure and Edmonton’s Heidelberg Materials have also been working to help the industry decarbonize.
RELATED: Carbon Upcycling lays foundation with $24.5-million round
Having joined Carbon Upcycle as CRO in the spring of 2025, Kritzler’s brief tenure has been marked by a series of achievements for the company. Its latest fundraising round leveraged $18 million USD ($24.5 million CAD) to accelerate construction of the company’s first commercial facility at the Ash Grove Mississauga Cement Plant and the engineering of two additional development projects. Carbon Upcycling said its first full-scale facility is coming online this year.
“I’m honoured to serve as CEO, and I look forward to partnering closely with Apoorv and the leadership team,” Kritzler said. “As we enter this exciting period of growth, our focus remains on leveraging our industry-defining technology to help our partners meet the growing demand for domestic, clean materials at scale.”
Photo courtesy of Carbon Upcycling.
BetaKit’s Prairies reporting is funded in part by YEGAF, a not-for-profit dedicated to amplifying business stories in Alberta.
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