Hard tech startup Material Evolution has raised $3.4 million to further cement its ambitions to cut CO2 emissions in the cement industry by 85%. The funding will be used to further construct a world-leading material science team, build out future projects, and fire up the mixer for batch production. Prior to this investment, the company has been operating on a $120,000 pre-seed investment.
Founded in 2017 by Elizabeth Gilligan, Ph.D, Architecture, the startup uses patented geopolymer technology and proprietary algorithms to produce what it bills as the most sustainable materials on the planet.
The company aims to replace the industry standard, Ordinary Portland Cement through the continued development of these geopolymers. Material Evolution is developing a product that is comprised of 95% industrial waste, which is said to be stronger, more durable, and reduces the carbon consumption of concrete by 85% when compared to equivalent products using Ordinary Portland Cement. By employing AI and machine learning technology, the startup guarantees 100% consistency in every batch produced.
“Concrete is the second most used material in the world after water, and cement equates to about 8% of our global CO2 emissions. We need to build much more sustainably if we are to meet our ambitious NetZero goals,” explained Gillian.
The startups’ $3.4 million in funding is comprised of $1.7 million in seed investment led by Playfair Capital, with participation from At One Ventures, The Heritage Group, and SkyRiver Ventures, as well as a number of construction industry angel investors including The Applebridge Construction Group and Milestone Construction. The second portion, a $1.7 million grant was awarded by Innovate UK, part of UK Research and Innovation, via their Transforming Foundation Industries Challenge.