Cocoon Secures $5.4 Million for Sustainable Cement Innovation
Cocoon, an innovative climate technology company based in London, UK, has successfully secured an impressive $5.4 million in Pre-Seed funding to propel its ambitious vision forward. The funding round saw significant participation from notable investors, including Wireframe Ventures, Celsius Industries (formerly known as UNTITLED), Gigascale Capital, and SOSV. With this newfound capital, Cocoon aims to enhance its engineering and scientific teams, expedite their commercialization efforts, and establish an industrial laboratory and demonstrator plant right in the heart of the UK, pushing the boundaries of sustainable construction technology.
At the helm of Cocoon are co-founders Eliot Brooks, Will Knapp, and Freddie Scott, who bring a wealth of expertise in geology, engineering, and materials science to the project.
The company's core innovation lies in its modular technology, which repurposes the by-products generated from the production of green steel, transforming them into a low-emissions substitute for cement. This cutting-edge solution holds the potential to significantly accelerate the decarbonization efforts within both the steel and concrete industries, making it possible for these sectors to work in unison towards a greener future.
In a concerted effort to validate their groundbreaking slag-based cementitious material, Cocoon is collaborating with several cement manufacturers. The company is on track to complete the construction of a demonstration project in collaboration with a UK steel plant by the end of 2024. This ambitious project is receiving additional support through $1 million in grants from Innovate UK, underscoring the UK government's commitment to fostering innovation in climate technology and sustainable practices. With these developments, Cocoon is poised to make a meaningful impact in the fight against climate change by not only revolutionizing how we approach cement production but also fostering a more sustainable and circular economy.
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