Peabody to buy $15M stake in Calera (St. Louis)
Peabody Energy said it plans to buy a $15 million equity interest in Calera Corp., which has proprietary technology that converts carbon dioxide into green building materials.
Los Gatos, Calif.-based Calera, led by Chief Executive Brent Constantz, recently completed a demonstration project near Moss Landing, Calif., which used the emissions stream from a natural gas-fueled power plant. The Calera technology mixes CO2 with water from a variety of sources, causing the minerals to bond and release as synthetic limestone.
Every ton of Calera building material is expected to store as much as a half-ton of carbon dioxide, Peabody said Monday.
Read the full post in the St. Louis Business Journal.
A Porfolio.com analysis on the deal highlights the groundbreaking nature of the Peabody investment.
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