A cutting-edge nanomaterial firm in Manchester secures £3m in venture capital, marking a significant step towards decarbonising the concrete industry.
- Concretene’s graphene-enhanced concrete aims to lower carbon emissions by enhancing the material’s mechanical properties, allowing for reduced cement use.
- This financial boost is led by Molten Ventures, with continued support from LocalGlobe, facilitating product certification and commercialisation.
- Innovate UK grants £1.2m for the development of low-carbon cement formulations in collaboration with industry giants.
- The successful collaboration with notable partners positions Concretene to accelerate its innovative solution to the market.
Concretene, a pioneering firm in Manchester, has successfully secured £3m in venture capital funding, a testament to its innovative approach to reducing carbon emissions in the concrete industry. Concretene’s graphene-enhanced alternative offers improved mechanical properties that allow for a reduction in both cement usage and the overall volume of concrete required, thereby significantly lowering the carbon footprint.
The capital infusion is spearheaded by Molten Ventures, a tech-specialist VC fund, which leads this investment round to further Concretene’s mission. LocalGlobe, known for its support in forming tech unicorns, continues its backing with this financial commitment. These investments are crucial as they pave the way for Concretene’s journey through product certification and onto revenue generation.
Concretene collaborates with UK pre-cast manufacturer Roger Bullivant and global cement leader Cemex to develop specific formulations for low-carbon CEM II/III cements. The collaborative effort is supported by a £1.2m grant from Innovate UK, secured last year, underscoring the significance of public-private partnerships in advancing sustainable technologies.
The company’s foundation can be attributed to civil engineers Rob Hibberd and Alex McDermott, who initially developed the prototype in collaboration with The University of Manchester’s Graphene Engineering Innovation Centre. With a skilled team, including co-inventor Dr Craig Dawson, Concretene is poised for commercial success.
Operating from the newly branded innovation hub Sister in Manchester, Concretene leverages its strategic location to drive its innovation forward. Mike Harrison, Concretene’s chief operating officer, asserts the firm’s growing capabilities: “Our team in Manchester has a unique combination of expertise and experience across construction and nanomaterial science…with the support of our funders and strategic partners, we’re now well-placed to move forward rapidly to commercialisation.”
This collaborative effort heralds a promising future for sustainable concrete solutions in the industry.