In a significant leap towards sustainable construction, Manchester’s Concretene has clinched £3 million in venture capital investment aimed at propelling its groundbreaking graphene-enhanced concrete into a broader market. This infusion of cash comes from a powerhouse partnership: Molten Ventures, a tech-specialist VC fund, spearheaded the Seed+ investment round, while LocalGlobe, an early supporter, has doubled down on its commitment to the company.
Concretene’s innovation addresses a pressing issue in the construction sector—reducing the carbon footprint of concrete, one of the most widely used building materials globally. The company, founded by civil engineers Rob Hibberd and Alex McDermott, has been working in collaboration with the University of Manchester’s Graphene Engineering Innovation Centre to refine its prototype. Their efforts have already attracted attention from industry giants, with pilot projects underway in partnership with Cemex and pre-cast manufacturer Roger Bullivant, supported by a substantial £1.2 million from Innovate UK.
Mike Harrison, Concretene’s chief operating officer, expressed his enthusiasm for the new funding, stating, “We’re delighted to welcome Molten Ventures to join with us and LocalGlobe on our mission to decarbonise concrete.” He emphasized the unique blend of expertise within their Manchester-based team, which spans both construction and nanomaterial science. This combination is crucial for navigating the next stages of product certification and revenue generation, ultimately aiming to gain industry confidence.
The implications of this funding extend far beyond Concretene’s immediate goals. As the construction industry grapples with its environmental impact, innovations like Concretene’s could serve as a catalyst for broader change. George Chalmers, head of climate at Molten Ventures, highlighted this potential, noting that Concretene’s technology is “poised to make a meaningful impact in reducing emissions in one of the hardest to abate sectors.” This sentiment reflects a growing recognition that the construction industry cannot afford to lag behind in the global push for sustainability.
Moreover, the collaboration with Arup, a leader in engineering and design consultancy, underscores the importance of rigorous testing and validation in the adoption of new materials. Dr. Fragkoulis Kanavaris, Arup’s concrete materials lead, remarked on Concretene’s bolstered technical team, which will enhance their capabilities in data analysis and graphene formulations. The ongoing materials testing program represents a critical step toward standardization, a factor that could pave the way for widespread acceptance of graphene-enhanced concrete in construction projects.
As Concretene embarks on this ambitious journey, the construction sector must pay close attention. The success of this venture could inspire other companies to invest in innovative materials that prioritize sustainability. The stakes are high, and the potential for transformation is immense. With increasing pressure to reduce carbon emissions, Concretene’s advancements could not only reshape the market for concrete but also redefine industry standards for environmental responsibility. The road ahead may be challenging, but with strategic partnerships and a clear vision, Concretene is positioning itself at the forefront of a much-needed revolution in construction.