Material Evolution, a Middlesbrough, UK-based materials company producing cement from industrial waste streams, raised £15M in Series A funding.
The round was led by Kompas VC, with participation from Norrsken VC, CircleRock Capital, Playfair Capital, At One Ventures, SkyRiver Ventures and HG Ventures.
The company intends to use the funds to scale the production of its low carbon cement.
Founded by Dr. Elizabeth Gilligan and Sam Clark, Material Evolution uses proprietary technology to produce decarbonized cement. It replaces the kiln in traditional cement production with an Alkali Fusion process that manufactures cement at ambient temperatures, resulting in a cement that is economical, lower carbon and is produced with less energy.
The company has also strategically partnered with SigmaRoc, a specialist quarried materials group based in the UK and Northern Europe, to develop a range of low carbon concrete products.
FinSMEs
29/06/2023