Concretene has received a £3 million (around USD$3.9 million) investment to advance its carbon-saving concrete technology.
The funding will be used for product certification and preparation for market entry, enhancing their eco-friendly concrete alternatives. This investment seeks to leverage the unique properties of graphene to reduce the carbon footprint of concrete.
The funding initiative was principally led by Molten Ventures, a tech-specialist venture capital fund. LocalGlobe, renowned for its role in nurturing tech unicorns, also reaffirmed its commitment. Notably, LocalGlobe’s initial seed investment was instrumental in assembling Concretene’s core team in 2023.
Concretene is collaborating with UK-based pre-cast manufacturer Roger Bullivant and global cement leader Cemex. Together, they focus on creating specific low-carbon formulations for CEM II/III cements, supported by £1.2 million in grant funding from Innovate UK, secured in the previous year.
In an ongoing endeavor to optimize performance, Concretene’s scientists are conducting thorough material testing in conjunction with engineering consultancy Arup. This partnership underscores a rigorous approach to product development, ensuring readiness for industry adoption.
Founded by civil engineers Rob Hibberd and Alex McDermott, Concretene emerged through efforts made alongside The University of Manchester’s Graphene Engineering Innovation Centre.
Operating as the inaugural tenant of Manchester’s new innovation hub, Sister, Concretene is well-positioned for continued growth. The hub itself is an ambitious £1.7 billion development, designed to foster innovation across various sectors, including construction.
Mike Harrison, Chief Operating Officer at Concretene, emphasized the team’s unique blend of skills in construction and nanomaterial science, which are crucial for achieving industry validation and confidence. He noted: “With the support of our funders and strategic partners Arup and Black Swan Graphene, we’re now well-placed to move forward rapidly to commercialization.”
George Chalmers, Head of Climate at Molten Ventures, highlighted Concretene’s significant progress, stating: “Concretene has made tremendous strides in getting its technology out of the lab and into meaningful real-world projects and applications.” He added that the firm’s solutions hold promise for substantial emission reductions in a notoriously challenging sector.