Material Evolution secures investment to help transform the foundation industries
by Startacus Admin
Material Evolution raises $3.4m to support further development of its innovative and sustainable alternative to concrete
Way back at the end of last year, we highlighted some Northern Irish startups that we thought would be ones to watch during 2021. So we were delighted with the news this week that one of those startups, namely Material Evolution has just announced that it has raised $3.4M via $1.7M in seed investment and $1.7M in grant funding. The round was led by London-based investors Playfair Capital, with participation from At One Ventures, The Heritage Group and SkyRiver Ventures, as well as a number of angels from the construction industry. The grant award came from Innovate UK via their Transforming Foundation Industries Challenge.
Founded in 2017 by Dr Elizabeth Gilligan, Material Evolution uses patented geopolymer technology and proprietary algorithms to create the most sustainable materials on the planet.
The company is currently focussed on creating a sustainable alternative to Ordinary Portland Cement (OPC), through the development of geopolymers. So far, they have developed a product that is made from 95% industrial waste which is stronger, more durable, and reduces the carbon consumption of concrete by 85%, when compared to equivalent products which use OPC. Utilising AI/ML, their algorithms allow them to keep material consistency and repeatability in every batch.
The investment will allow Material Evolution to build out their world-leading materials science team, develop future products and set up batch production. This expansion will meet the construction market’s need for sustainable building materials. There is currently a significant waitlist for the material, with a number of customers in their pipeline due to receive the first 100,000 tonnes of their material during year one of production.
Dr Elizabeth Gilligan, CEO of Material Evolution, says, “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.”.
“We were delighted to have a heavily oversubscribed funding round and investors on board who share our vision and our passion to decarbonise the foundation industries through advanced materials. We have also received funding from Innovate UK who are fully dedicated to transforming the foundation industries in order to meet NetZero by 2030.”.
Material Evolution are evidently at the forefront of hugely important innovation - exciting times lie ahead!
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
Tobin Capital continues to expand its portfolio by investing in pop-up marketplace Sook, the startup on a mission to revolutionise the high street.
Sodexo and L Marks open call for applications from innovative startups and scaleups to join their inaugural Sodexo Healthcare and Seniors Accelerator.
The lowdown on FuturePlus, the startup that's on a mission to make sustainability accessible, achievable and affordable for all businesses.
.jpg)
John McLachlan, author and co-founder of Monkey Puzzle Training & Consultancy examines the differences between action-oriented and reflective leaders and which approach is best.
The fitness app that's not just about physical fitness; GoJoe helps employers to engage, motivate and connect their people across all pillars of wellbeing.
Now in its fifth year, North West England water firm United Utilities opens call for Innovation Lab, its pioneering ideas incubation programme.
Not-for-profit OneTech has spunout from Capital Enterprise to expand its offering and continue its mission of creating a more equitable, diverse and supported startup ecosystem.
London-based startup Deep Render tackles the internet’s data and bandwidth challenges via its innovative AI-powered file compression technology.
The lowdown on Dublin-based startup and NUI Maynooth spin-out Neuromod Devices and its innovative evidence-based bimodal neuromodulation treatment for chronic tinnitus.
.jpg)
With the clear shift towards generative AI, Richard Hayes, search director at digital marketing agency Catalyst explores what it means for SEO...
Published on: 23rd November 2021
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- Startup Sook Receives Investment from Tobin Capital 24th May 2023 Tobin Capital continues to expand its portfolio by investing in pop-up marketplace Sook, the startup on a mission to revolutionise the high street.
- L Marks Seeking Startups and Scaleups for Sodexo Healthcare and Seniors Accelerator 23rd May 2023 Sodexo and L Marks open call for applications from innovative startups and scaleups to join their inaugural Sodexo Healthcare and Seniors Accelerator.
- United Utilities Innovation Lab launches call-out for innovative ideas for fifth programme 18th May 2023 Now in its fifth year, North West England water firm United Utilities opens call for Innovation Lab, its pioneering ideas incubation programme.
- OneTech Spins Out from Capital Enterprise to Support Underserved Communities in Tech Across the UK 18th May 2023 Not-for-profit OneTech has spunout from Capital Enterprise to expand its offering and continue its mission of creating a more equitable, diverse and supported startup ecosystem.
