Nanogence SA, a building material innovation company aiming to reduce carbon emissions by up to 40% using its performance enhancing catalyst technology, has secured significant funding from a consortium of investors led by CirCap, alongside Planet First Partners and the EIC Fund. The funds will accelerate the adoption of low-carbon technology in the construction and building industry.
The production of cement alone accounts for 8% of global carbon emissions. With no direct alternative material and the demand for concrete, and subsequently cement, expected to grow by 25% by 2050, urgent solutions are needed to lower its carbon footprint.
Nanogence, a Renens (Vaud)-based startup, developed its proprietary smart catalyst technology, which are patented smart activators that enhances the binding efficiency of cementitious and inorganic binder systems. During the hydration process, it effectively activates the right chemical speciation to combine to selectively form an elevated amount of higher density connecting crystals that are responsible for binding all aggregates together, giving the final strength and durability. The formation of the right crystal and their quantity is the key to getting ultra-high performance on strength.
The technology can also be integrated at cement production level to reduce the clinker content, the central and most carbon emission intensive ingredient, in cement without compromising product performance and, more importantly, without costly changes in the current manufacturing process. This saves up to 40 percent of carbon emissions without changing the current manufacturing process.
The startup’s recent financing round attracted lead investor CirCap, a novel investment platform providing strategic private capital to innovative companies active in climate-tech, healthcare and educational sectors. The firm has €500 million assets under management. Planet First Partners, a growth equity sustainable investment platform, with Limited Partners’ commitments of 450 million euro, participated through its ecosystem investment strategy designed to support high-potential companies in progressing to the growth stage of their development. The round was completed by the EIC Fund, the venture arm of the European Innovation Council.
Andreea Constantinescu, Managing Partner at Planet First Partners, said: “Our investment in Nanogence marks our first foray in the material innovation space and we stand committed to support Abhishek Kumar and the team in their scale up journey. We believe that Nanogence is well-placed to support the global decarbonisation of cement given its ability to meet the industry needs for financial and technological viability, material carbon reduction, ease of adoption and scalability.”
Abhishek Kumar, CEO and Founder of Nanogence, commented: “We are excited to receive the support from incoming renowned investors in this essential journey to accelerate the transition towards a low carbon-built world. With growing demand worldwide, it is essential for us to align with like-minded strong backers for our growth phase.”
The funds will boost the operations and manufacturing capabilities in multiple geographies, as demand for low-carbon solutions and smart catalyst technology increases across the construction and building industry globally.
(Press release/RAN)
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