Benzinga | Oct 1, 2021 03:18PM EDT

Astec Inks Strategic Partnership With Carboncure Technologies

* Astec Industries, Inc. (NASDAQ:ASTE) entered a strategic partnership with CarbonCure Technologies to strengthen its commitment to sustainability under its OneASTEC business model.

* CarbonCure Technologies' product enables concrete producers to reduce carbon footprint without sacrificing quality and strength.

* ASTEC, which includes RexCon, CON-E-CO, and BMH Systems brands, has rights as CarbonCure's exclusive channel partner in the U.S. and Canada to offer its technology to customers looking for sustainable building solutions.

* CarbonCure's technology easily integrates within ASTEC's new and existing ready-mix concrete plants. Their equipment reduces embodied carbon by injecting CO2 during the batching process, sequestering it within the concrete.

* To date, CarbonCure's concrete technology has been installed in more than 400 concrete plants worldwide as the demand for low-carbon concrete increases.

* Price Action: ASTE shares are trading higher by 2.37% at $55.09 on the last check Friday.