# Exterra

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/exterra

- Industry: Environmental Services
- Headquarters: Montreal, Canada
- Website: www.exterracarbon.com/
- Total disclosed funding: $16M
- Latest round: Series A (Apr 1, 2025)
- Investors on record: 10

## About

Based in Quebec, Canada, and founded in 2021 by CEO Olivier Dufresne and CSO David Fennell, Exterra Carbon Solutions Inc. operates as an environmental services company that offers environmental consulting services and develops carbon storage technology and accounting software for generating carbon credits and climate finance data. Exterra Carbon Solutions Inc. provides mineral carbonation technology that utilizes mineral and industrial waste rich in calcium and magnesium to capture and sequester CO2 from industrial processes, the air, or the ocean. The company offers historic mine utilization, which allows users to dormant mines, reducing CO2 emissions and improving mine infrastructure for the storage of CO2. In addition, the firm provides carbon removal through various approaches, such as direct air capture (DAC), biomass power generation, renewable natural gas production, and ethanol production. The company plans to use the funding from July 2023 to hire additional staff, accelerate its pilot and demonstration operations, construct its Hub One carbon storage and circular economy center, and establish strategic partnerships with major carbon emitters. In April 2025, Exterra raised CAD 20 million in series A funding co-led by BDC Capital and Clean Energy Ventures, with participation from Karpowership, MOL Switch, Investment Quebec. The company plans to use the funding from May 2025 to support project construction, develop technology platform, and integrate into mining and mineral applications.

## Funding rounds

- Series A, Apr 1, 2025, $14M — BDC Capital, Investment Quebec, WSP Global Inc., Clean Energy Ventures, BASF SE, MOL Switch, Karpowership, Winsome Resources Limited, Énergir Inc.
- Seed, Jul 1, 2023, $1.6M — Investment Quebec, Propulia Capital

## Investors

- Investment Quebec (https://capitalatlas.ai/funds/investment-quebec) — Seed, Series A
- Propulia Capital (https://capitalatlas.ai/funds/propulia-capital) — Seed
- BDC Capital (https://capitalatlas.ai/funds/bdc-capital) — Series A
- WSP Global Inc. — Series A
- Clean Energy Ventures (https://capitalatlas.ai/funds/clean-energy-ventures) — Series A
- BASF SE — Series A
- MOL Switch (https://capitalatlas.ai/funds/mol-switch) — Series A
- Karpowership — Series A
- Winsome Resources Limited — Series A
- Énergir Inc. — Series A