Sources: Solidia Technologies, Piscataway, N.J.; CP staff
One of the top players in technology-targeted venture capital, Kleiner Perkins Caufield & Byers (KPCB) leads a third or Series C Round of funding for Solidia Technologies, whose integrated cement and concrete production and curing processes lower net carbon dioxide emissions up to 70 percent when measured against portland cement alternatives.
KPCB, Bright Capital, BASF and BP have recommitted to the business, and are joined in the current round by Lafarge Group and another French entity, Total Energy Ventures, along with private investors including Sun Microsystems cofounder Bill Joy, who has served on the Solidia board as a KPCB partner. “As investors, what we look for are big markets where big impact is needed, and where there is the potential for tremendous societal benefit. Solidia offers all that,” says Solidia Board Chairman and KPCB Partner Jan van Dokkum. “With the mix of venture investors committed to sustainable solutions, technology leaders and global industry players, we have built the infrastructure needed to support the commercialization of Solidia’s technology.”
The company’s patented methods start with sustainable Solidia Cement and cure concrete with CO2 gas, sharply reducing carbon emissions compared to conventional methods, while recycling 60–100 percent of the water used in production. The processes offer producers significant cost savings compared to water-based curing of conventional concrete, company engineers note, citing faster curing times, lower energy and raw material consumption, reduced waste generation, and reduced labor requirements.
Lafarge Group’s participation in the funding round follows collaboration with Solidia on cement production and concrete applications, as well as commercialization of the technology. Additional collaborators include Linde Group, a global leader in the international gases market, which has extended its CO2 supply and delivery expertise to technology development and commercialization.
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