O'Shaughnessy Ventures Invests in Furno Materials
O’Shaughnessy Ventures LLC (“OSV”), a family office that invests in ambitious seed and pre-seed startups, announced that it has invested in Furno Materials Inc. (“Furno”). Founded in 2020 by Gurinder Nagra, Furno is building modular cement plants that are more carbon-efficient, cheaper to build, and less space-intensive than traditional plants.
Cement is the second most-consumed commodity in the world (behind water), and it produces 8% of global carbon dioxide emissions. Traditional cement plans are large and must be custom-built. Furno’s modular cement plants burn natural gas instead of coal. This means they release less carbon dioxide than traditional cement plants and can be heated and cooled more efficiently. Furno’s plants are designed to fit inside a shipping container, meaning they are portable and take up minimal space, which is ideal for building in developing markets.