Innovation

Sweden's Green Cement Innovation Attracts Major Investment in Climate Tech

STOCKHOLM, March 21, 2024 /PRNewswire/ -- Sweden continues to cement its position as a leader in the climate tech ecosystem within the European Union, with investment volumes soaring in 2023. This year has already witnessed a significant milestone with the Swedish company, Cemvision, securing what is believed to be the most substantial seed round in the green cement sector to date. In a remarkable demonstration of confidence, Cemvision has garnered the support of fellow Swedish investors Polar Structure and BackingMinds, in addition to the San Francisco-based Zacua Ventures.

This landmark achievement for Cemvision comes on the heels of the company announcing its inaugural official customer contract, highlighting a strategic effort to build upon the company’s current momentum. The cement industry, responsible for approximately 8% of the world’s carbon dioxide emissions, represents a global market estimated to be worth around $400 billion.

Accelerating Sustainable Operations

Oscar Hållén, CEO of Cemvision, expressed his enthusiasm for the investment, highlighting its potential to hasten the company's growth trajectory in the immediate future. "Before taking our next big leap, this funding serves as a crucial accelerator. After engaging with venture capitalists globally, we felt that some of the finest ones were actually in our vicinity. We’re thrilled to have their deepened commitment to Cemvision. Moreover, Zacua Ventures brings a unique, world-class perspective to the sustainable transformation of the built environment, and they have deeply impressed us," stated Hållén. The investment round has been primarily financed by BackingMinds and Polar Structure, with Zacua Ventures contributing a significant additional investment.

Venture Capital with a Vision

BackingMinds stands out as a venture capital firm that prides itself on investing in areas often overlooked by the industry. The firm boasts a diverse portfolio encompassing over 20 investments across Europe, with a particular focus on innovative technologies and circular business models that address some of the world's most pressing challenges.

"Cemvision’s strategic approach to a $400 billion market is exemplary, aligning perfectly with the heightened environmental and regulatory requirements of today’s industry. Given the extraordinary market response, it’s our pleasure to continue supporting the Cemvision team as they forge a new path in sustainable global construction," commented Susanne Najafi, founding partner of BackingMinds VC.

Pioneering the Green Transition in Infrastructure

As a partner in the green transition of infrastructure, Polar Structure provides both the public and private sectors with innovative ways to manage and finance the necessary investments for upgrading or developing new, critical infrastructure. Their investment profile includes other environmentally-conscious ventures, such as the freight mobility unicorn, Einride.

"We are always on the lookout for innovative solutions that can be developed and scaled to meet the exigent demand for net-zero emissions. Cemvision's technology, which enables the production of fossil-free cement, and their outstanding team, align with our core investment values," explained Tobias Emanuelsson from Polar Structure.

Constructing a Better Future

Standing at the forefront of early-stage sector-specific venture funds, Zacua Ventures tackles the world's most significant issues in sustainability, efficiency, and urbanization. With offices in major international cities including San Francisco, New York, Singapore, Madrid, and Mexico City, Zacua’s team is well-versed in investing in construction technology.

Juan Nieto, General Partner at Zacua Ventures, praised Cemvision's potential, saying, "Cemvision's potential is nothing short of extraordinary—it's poised to lead the net-zero cement game. With a top-tier team displaying serious industry expertise and a novel approach to decarbonizing cement, they're all set to make a massive impact on the industry. We are more than excited to embark on this journey with the team and our respected co-investors."

A Sustainable Alternative to Portland Cement

Cemvision is pioneering a substantial leap in sustainable building materials by producing an alternative to traditional Portland cement. Their product can reduce carbon emissions by more than 95% while maintaining durability and performance standards. By utilizing raw materials recycled from industrial waste and leveraging green electricity-powered kilns that operate at significantly reduced temperatures, Cemvision has managed to create a groundbreaking product. Remarkably, their cement can achieve early strength up to five times faster than Portland cement, substantially boosting productivity. The founding team at Cemvision brings a wealth of experience to the table, with each member being a seasoned professional from leading cement industry corporations.

Contact Information and Additional Resources

For further details regarding Cemvision and its revolutionary product, interested parties can reach out to Oscar Hållén, Chief Executive Officer, via [email protected] Media inquiries can be directed to Max Larsson von Reybekiel, CMO/CCO, at [email protected], or by phone at +46722334486. More information is also accessible through the company's website at www.cemvision.tech and by contacting them via email at [email protected]

This essential information has been made available courtesy of Cision http://news.cision.com. For those interested in the financial specifics of the transaction, related documents can be downloaded at https://mb.cision.com/Main/23068/3950034/2687488.pdf .

Furthermore, an image of the Cemvision team, which solidifies the human element behind this innovative technological leap, is available for viewing at https://news.cision.com/cemvision/i/cemvision-team,c3281631.

In Conclusion

Cemvision’s innovative approach to green cement manufacturing has significant implications not only for the construction industry but also for the broader objective of reducing global CO2 emissions. With heavyweight investors on board, the company is well-positioned to disrupt the traditional cement market, demonstrating a commitment to sustainability that resonates with public sentiments and regulatory trends towards greener practices. The combined expertise of local and international backers suggests a vote of confidence in Cemvision's vision that might inspire further innovations and investments in the climate tech sector. The Cemvision case is a testament to the fact that environmental responsibility and economic progress can stride forward hand in hand.

SOURCE CemVision

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