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| Susanne Najafi |
STOCKHOLM, SWEDEN -- Sweden, the leading climate tech ecosystem in the EU by investment volume in 2023, is up for this year too. In the largest known green cement seed round to date, Swedish Cemvision joins forces with its compatriot investors Polar Structure and BackingMinds, and SF-based Zacua Ventures.
The
news comes soon after Cemvision announced its first official customer contract and is part
of a plan to accelerate the company’s short-term momentum. The cement industry
accounts for 8% of global CO2 emissions and is an estimated $400B market
globally.
“This investment will accelerate our near-future
operations, right before we make the next jump, which is not too far away, says
Oscar Hållén, CEO of Cemvision.
Oscar Hållén
"Having met
and retained interest from VCs worldwide, we concluded some of the very best
ones were right around the corner, and we are delighted to have them doubling
down on Cemvision.
"Furthermore, Zacua’s global understanding of the
green transition of the built environment is the most impressive we’ve ever
come across,” says Hållén.
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| Cemvision Team |
BackingMinds and Polar Structure invest the lion’s share of the €10M ($10 million U.S.), with Zacua contributing an additional amount.
BackingMinds is a VC investing in the blind spots of
venture capital. The firm has made more than 20 investments in Europe including
innovative technologies and circular business models solving the big global
challenges.
”Cemvision is addressing a $400 billion market, precisely
meeting the increased environmental and regulatory needs of the industry,"
says Susanne Najafi, founding partner of BackingMinds VC
Tobias Emanuelsson
"With the overwhelmingly positive market response, we're thrilled to keep backing the Cemvision team as they pioneer global sustainable construction.”
Polar Structure is
a green transition partner in infrastructure development, providing the public
and private sectors a way to develop, manage, and finance necessary investments
to upgrade or build new, critical infrastructure. The firm’s other green
transition portfolio investments include freight mobility unicorn Einride.
“We are constantly
in search of innovations that can help us develop and scale the essential
solutions required to achieve net zero emissions," says Tobias Emanuelsson
from Polar Structure.
"Cemvision's
technology to produce fossil-free cement, backed by their exceptional team,
exemplifies our commitment to such innovations.”
Juan Nieto
Zacua is an early-stage, sector-specific venture fund tackling the world's biggest challenges in sustainability, productivity and urbanization. It has offices in San Francisco, New York, Singapore, Madrid, and Mexico City – and is led by partners with deep-running experience of investing in construction tech.
Commenting on the
investment, Juan Nieto, General Partner, at Zacua Ventures, added:
"Cemvision's potential is nothing short of extraordinary – it's poised to
lead the net-zero cement game.
"With a top-notch team bringing serious industry
chops and a fresh take on decarbonisation of cement, they're primed to shake
things up big time. We are beyond excited to take this journey together with
the team and our esteemed co-investors.”
Cemvision’s products
offer an alternative to traditional Portland cement, reducing CO2 by more than
95% while retaining durability and performance.
It is produced using raw materials recycled from
industrial waste and kilns powered by green electricity at much lower temperatures.
Cemvision’s cement builds early strength up to 5 times faster than Portland,
allowing for increased productivity.
The company was founded by three experienced leaders from
global cement industry incumbents.
CONTACTS:
Oscar Hållén,
Chief Executive Officer,
Max Larsson von
Reybekiel CMO/CCO,
+46722334486
www.cemvision.tech and press@cemvision.se
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