Low Carbon Materials (LCM), a pioneer in the construction decarbonisation sector, has confidently secured a £3m investment to accelerate its growth. This significant financial boost is set to enhance the company’s innovative solutions in carbon negative aggregates, aimed at transforming the construction industry.
The funding round, spearheaded by Ada Ventures with participation from Green Angel Ventures and Northstar Ventures, marks a pivotal moment for the Seaham-based company. Additional support comes from an Innovate UK grant and skills backing from Deloitte.
A Leap Towards Sustainable Construction
LCM, a finalist in the prestigious Earthshot Prize, has received a £3m investment to support its rapid expansion. The firm, based in Seaham, specialises in carbon negative aggregates, which are essential components in the construction industry. This investment round was led by Ada Ventures and included contributions from Green Angel Ventures, Northstar Ventures, and an Innovate UK grant.
LCM’s signature product, OSTO, is a lightweight aggregate that replaces traditional materials like crushed stone, sand, and gravel. This substitution significantly reduces the carbon footprint of concrete and asphalt, making construction more environmentally friendly. The company’s CEO, Dr Natasha Boulding, highlighted the importance of greener building blocks for urban development and transportation networks.
The Team Behind the Innovation
The company was founded in 2019 by three scientists—Dr Natasha Boulding, Dr Phil Buckley, and Scott Bush—during their PhD studies at Durham University. Their expertise in material science led to the development of LCM’s innovative products.
In 2022, LCM’s efforts were recognised when it became a finalist for the Earthshot Prize, an initiative led by Prince William to combat climate change. This accolade underscored the company’s commitment to creating solutions that reduce carbon emissions and support environmental sustainability.
Market Potential and Global Interest
LCM is witnessing tremendous interest in its carbon negative aggregates both within the UK and internationally. The company sees significant opportunities to expand its market reach and implement its sustainable technologies on a broader scale.
As the demand for sustainable construction materials grows, LCM is well-placed to meet the needs of the industry. With this recent investment, the company is preparing for future funding rounds to support its expansion and bring its products to new markets worldwide.
Matt Penneycard, co-founding partner at Ada Ventures, noted, ‘LCM offers large construction businesses a simple and scalable way to reduce their CO2 output.’
Backing from Industry Leaders
Deloitte UK and North & South Europe’s Chief Sustainability Officer, Smruti Naik-Jones, emphasised the need for global economies to decarbonise through integrated systems. Deloitte is providing skills and investment to help LCM scale its innovative low carbon solutions.
Naik-Jones stated, ‘We are using our skills, influence, and targeted investment to catalyse environmental and social impact across key areas of the energy transition, circularity, sustainable food systems, and nature restoration.’ This collaboration highlights the crucial role that corporate partnerships play in advancing sustainable technologies.
Looking Ahead: Future Prospects
LCM’s technologies present a straightforward and scalable method to revolutionise the concrete and asphalt industries. The company is excited about the backing from renowned venture capitalists and organisations.
The investment will enable LCM to accelerate its growth trajectory, develop new products, and enhance its existing offerings. This forward-thinking approach sets LCM apart as a leader in the sustainable construction materials sector.
With the construction industry accounting for a significant portion of global carbon emissions, LCM’s innovations are poised to make a substantial impact.
Quotes from Industry Experts
Matt Penneycard of Ada Ventures remarked on the significance of LCM’s work, highlighting the potential to improve entire industries: ‘Concrete in the built environment accounts for 8% of global carbon emissions. LCM offers solutions in a scalable, market-leading way.’
Dr Natasha Boulding, CEO of LCM, shared her enthusiasm: ‘We are seeing tremendous interest and opportunity, both in the UK and abroad. This funding is a crucial step to support our rapid growth.’
Reflections on the Investment
This £3m investment is a monumental step for Low Carbon Materials. It reflects the confidence that investors have in the company’s potential to drive meaningful change in the construction sector.
With a clear focus on sustainability and innovation, LCM is positioned to lead the charge towards a more environmentally friendly future in construction.
Low Carbon Materials’ £3m investment marks a transformative moment in its journey to revolutionise the construction industry.
With robust backing from notable venture capitalists and industry leaders, the company is well-equipped to expand its sustainable technologies globally.
