In March 2023, Mizuho Bank announced a USD 5 million equity investment in MCi Carbon, an Australian clean technology company engaged in decarbonising global industries through Carbon dioxide Capture and Utilization (CCU).
MCi brings together carbon dioxide emissions from steel, cement, fertilizer, and mining facilities with a variety of feedstocks, including industrial by-products such as steel slag, mine tailings, and low-grade minerals, in a chemical process called mineral carbonation. In this way, it transforms carbon dioxide and waste into a variety of valuable and saleable inputs for building materials and other products.
This equity investment is part of a broader push from Mizuho to invest JPY 50 billion over the next ten years in companies developing early-stage technologies that can enhance environmental and social sustainability, including at the start-up and demonstration stages.
Read more on Mizuho’s net-zero targets here.
This case study was originally published in the Net-Zero Banking Alliance 2023 Progress Update (December 2023).
Disclaimer: NZBA shares case studies to promote member banks’ awareness of new approaches, tools, products, services, and transactions related to financing the transition to net zero. Featuring a case study naming a particular bank does not represent an endorsement of all actions from that bank.