BOULDER, Colorado–(BUSINESS WIRE)–Prometheus Materials, a leader in carbon-free building materials, today announced the closing of its $8 million Series A funding round. The tour was led by Sofinnova Partnersa European leader in venture capital in the life sciences based in Paris, London and Milan, with the participation of the Microsoft Climate Innovation Fund, Skidmore, Owings and Merrill (SOM), FAGand The Autodesk Foundation.
“To prevent catastrophic climate change, we can’t just replace fossil fuels with renewable forms of energy — we must also decarbonize the way we create building materials,” said Loren Burnett, co-founder, president and CEO. from the management of Prometheus Materials. “By using biological rather than chemical means to create a strong, durable binder for aggregates, we can now offer a carbon-free alternative to carbon-intensive Portland cement. Our bio-cement will transform architecture as we know it, providing the construction industry with a new low-carbon building material that has environmental and mechanical properties that match or exceed the capabilities of concrete, wood, fiberglass, and concrete. steel and glass.
Bring carbon-free building materials to market
Prometheus Materials will use the funding to commercially manufacture carbon-free masonry units at its production facility in Longmont, Colorado. The products will be marketed to architects, engineers, property and facility developers and others in the construction industry as an affordable, strong and durable zero-carbon alternative to cement-based concrete masonry units Portland (commonly called concrete blocks). Pilot projects using Prometheus Materials masonry units are currently underway.
Over the next two years, Prometheus will use its Series A funding to begin commercial production of other zero-carbon building products, including:
- Prefabricated biocomposite elements, a carbon-free alternative to tiles, wall panels, noise barriers and other traditional precast concrete elements made from portland cement.
- Ready-to-use biocomposite, a carbon-free alternative to traditional Portland cement-based ready-mixed concrete.
A revolutionary solution to a global problem
Developed with a Department of Defense grant by a team of scientists and engineers from the University of Colorado at Boulder, Prometheus Materials zero-carbon building products are made from naturally occurring microalgae. Using a patent-pending photosynthetic biocementation process, Prometheus Materials combines microalgae with water, sunlight and CO2 to create a bio-cement similar to the material used by corals to build reefs and oysters to generate their shells.
When mixed with aggregates, this bio-cement creates a carbon-free building material with mechanical, physical and thermal properties comparable to or better than Portland cement-based concrete.
This new material bypasses the carbon-intensive processes involved in producing and transporting the 4 billion tonnes of portland cement produced each year; processes that are responsible for 8% of the total annual CO in the world2 emissions, according to a Chatham House report. This, combined with the product’s ability to sequester carbon during the production process, results in an approximately 90% reduction in embodied carbon compared to existing Portland cement-based products.
“The coral reefs, seashells and even the limestone we use to produce cement today show us that nature has already figured out how to bind minerals together in strong, intelligent and efficient ways,” says Dr Wil Srubar III, co -founder. and Senior Technology Advisor at Prometheus Materials. “By working with nature to use existing microalgae to bind minerals and other materials to create new types of sustainable building materials, we can eliminate most, if not all, of the carbon emissions associated with construction materials. traditional concrete-based construction.
“As Microsoft grows, we continue to build new data centers and corporate campuses. Sustainable building materials, like the carbon-negative solution from Prometheus Materials, will enable our data centers to truly sequester carbon,” said Mark Kroese, general manager, Sustainability Solutions at Microsoft. “We are proud to work with Prometheus on this low-carbon concrete pilot program, and to invest in companies that are accelerating the decarbonization of buildings through our Climate Innovation Fund.”
“We were impressed with the team’s ability to provide a long-researched, sustainable and highly effective replacement for traditional Portland cement, without the carbon emissions,” says Joško Bobanović, Partner at Sofinnova Partners and member of the Sofinnova Industrial Equipe Biotech. . “This solution demonstrates the power of biology to replace existing industrial processes with climate-friendly alternatives.”
Architects, engineers, property and facility developers and others in the construction industry wanting to learn more about how Prometheus Materials can help them achieve a carbon-free future should visit promiseheusmaterials.com or contact the company at [email protected]
Prometheus Materials provides sustainable building materials that accelerate the global transition to a carbon-free future. Inspired by biological processes found in nature, the company has developed a technology that uses natural microalgae to produce a biocement that provides an affordable, strong and sustainable alternative to carbon-intensive portland cement. When mixed with aggregates, this bio-cement creates a carbon-free building material with mechanical, physical and thermal properties comparable or, in some cases, superior to Portland cement-based concrete. Find out how the company is enabling the decarbonization of the construction industry on promiseheusmaterials.com.
About Sofinnova Partners
Sofinnova Partners is a leading European life sciences venture capital firm specializing in healthcare and sustainability. Based in Paris, London and Milan, the firm brings together a team of professionals from around the world with strong scientific, medical and commercial expertise. Sofinnova Partners is an active business builder across the entire life sciences investment value chain, from seed to post-stage. The company actively partners with ambitious entrepreneurs as a lead or lead investor to develop transformative innovations that can positively impact our collective future.
Founded in 1972, Sofinnova Partners is a venture capital firm with deep roots in Europe, with 50 years of experience supporting over 500 companies and building market leaders around the world. Today, Sofinnova Partners manages more than 2.5 billion euros. For more information, please visit: sofinnovapartners.com