Today Nanogence, a Swiss-based building material innovation company, announced that it has secured an undisclosed amount of funding from a consortium of investors led by CirCap, alongside Planet First Partners, and the EIC Fund.
Currently, the production of cement accounts for 8 percent of global carbon emissions. With no direct alternative material and the demand for concrete and cement, expected to grow by 25 percent by 2050, urgent solutions are needed to lower its carbon footprint.
Nanogence is pioneering carbon-avoidance technology through material science research. It develops eco-friendly smart catalyst technology for the construction and building industry by selectively enhancing the formation of interlocking crystals responsible for binding, thus improving the strength and durability of cementitious material (characteristic in cement).
This saves up to 40 percent of carbon emissions without changing the current manufacturing process.
Nanogence’s technology either reduces cement demand or replaces it with eco-friendly materials, while preserving the strength and performance of the concrete. The technology can also be integrated at cement production level without compromising product performance and, more importantly, without costly changes in the current process.
Overall, Nanogence helps futureproof the construction and building sector against stricter emission regulations and increasing demand for low-carbon product offerings.
The company is also currently supporting the construction of Noida International Airport, which is being built by Tata Group and developed by Zurich Airport.
The airport is billed to be India’s largest upon completion and aims to be the country’s first net-zero emissions airport.
CirCap led the financing round, which was completed by the EIC Fund, the venture arm of the European Innovation Council.
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, we need to align with like-minded strong backers for our growth phase.“
Karl-Georg Altenburg, Founding Partner at CirCap, said:
“We consider ourselves entrepreneurs and like to work hand in hand with founders, aiming to be a strategic partner and not just a capital provider to our portfolio companies.
Our investment in Nanogence is another milestone in CirCap’s commitment to supporting young European climate-tech businesses with disruptive technologies, helping them become global champions. “
Svetoslava Georgieva, Chair of the EIC Fund Board, said:
”Our investment in Nanogence will help them accelerate the deployment of innovative nanotechnology for green concrete and cement. Combining grants and equity is unique to the European Innovation Council.
It bridges the funding gap for highly innovative companies, unlocks additional private investments and enables them to scale up in Europe.”
Lead image: Simone Hutsch.