UK
Ireland
Scotland
London
Construction News
27/01/2011
Laing O'Rourke Joins Novacem
Novacem, the carbon negative cement company, today announced that Laing O’Rourke had joined its investment group as part of a £1.6 million round.
All three of Novacem's existing financial investors - Imperial Innovations, the London Technology Fund, and the Royal Society Enterprise Fund – also participated in the round. This follows the announcement by Imperial Innovations of its own £140 million fundraising in December 2010.
Novacem's carbon negative cement is based on magnesium oxide and offers the cement industry a scalable alternative to current carbon intensive production. No carbon emissions are released from the magnesium silicate raw material used, and overall more CO2 is absorbed than emitted during production. Novacem is currently working with a world-class eco-system of partners to accelerate deployment of its technology to market.
Novacem will use the £1.6 million raised to continue the development of its carbon negative cement and manufacturing process, and to expand its commercial activities in the run up to an expected Series-A financing.
Laing O'Rourke's participation in the investment round follows its successful earlier collaboration in a two year (2008-10) £1.5 million Technology Strategy Board project led by Novacem. The two companies are already planning further joint development activities.
Ray O'Rourke, Laing O'Rourke's Chairman and Chief Executive, said: "Clients are seeking increasingly more viable and sustainable construction solutions, and the industry can no longer drag its heels on this issue. At Laing O'Rourke we know our clients are looking to us to collaborate with the cement industry to overcome this challenge. Good progress has been made over the last ten years, but much more needs to be done. Although we recognise there is a limit to what is possible to improve the sustainability of conventional Portland cement, we are excited by the radical innovation being developed through our partnership with Novacem. I look forward to forging stronger working relationships with the company through this investment, and to delivering a viable carbon-negative Novacem product to use in our own projects."
(CD)
All three of Novacem's existing financial investors - Imperial Innovations, the London Technology Fund, and the Royal Society Enterprise Fund – also participated in the round. This follows the announcement by Imperial Innovations of its own £140 million fundraising in December 2010.
Novacem's carbon negative cement is based on magnesium oxide and offers the cement industry a scalable alternative to current carbon intensive production. No carbon emissions are released from the magnesium silicate raw material used, and overall more CO2 is absorbed than emitted during production. Novacem is currently working with a world-class eco-system of partners to accelerate deployment of its technology to market.
-- Advertisement --
Novacem will use the £1.6 million raised to continue the development of its carbon negative cement and manufacturing process, and to expand its commercial activities in the run up to an expected Series-A financing.
Laing O'Rourke's participation in the investment round follows its successful earlier collaboration in a two year (2008-10) £1.5 million Technology Strategy Board project led by Novacem. The two companies are already planning further joint development activities.
Ray O'Rourke, Laing O'Rourke's Chairman and Chief Executive, said: "Clients are seeking increasingly more viable and sustainable construction solutions, and the industry can no longer drag its heels on this issue. At Laing O'Rourke we know our clients are looking to us to collaborate with the cement industry to overcome this challenge. Good progress has been made over the last ten years, but much more needs to be done. Although we recognise there is a limit to what is possible to improve the sustainability of conventional Portland cement, we are excited by the radical innovation being developed through our partnership with Novacem. I look forward to forging stronger working relationships with the company through this investment, and to delivering a viable carbon-negative Novacem product to use in our own projects."
(CD)
Latest Construction News
29/01/2025
Caddick Construction has been awarded a £43 million contract to deliver the first phase of Cole Waterhouse's flagship regeneration scheme in Digbeth, Birmingham.
The project, known as Upper Trinity Street, marks a significant step in the area’s transformation.
Spanning 182,986 square feet, the re
29/01/2025
McLaren Construction has been appointed by O&H Properties to deliver the first phase of a £60 million Foster & Partners-designed development at the corner of New Bond Street and Grafton Street in London’s West End.
The seven-storey, 5,400 square metre prime retail and office scheme will feature ret
29/01/2025
GMI Construction Group has been awarded a contract to develop three high-specification warehouse units totalling over 175,000 square feet at Precedent Drive, Milton Keynes.
The £20 million project, commissioned by DV5 Last Mile Developments (UK) Ltd, a joint venture between Coltham and Delancey Re
29/01/2025
Plans for 106 sustainable new homes in Southville, a neighbourhood in South Bristol, have been approved as the city seeks to increase housing delivery to address growing demand.
Top 10 award-winning housebuilder The Hill Group will create a £60 million development on Raleigh Road, on land that was
29/01/2025
Bouygues UK has reached a major milestone in the fourth phase of the Hallsville Quarter regeneration project in Canning Town, London.
The project, part of the £3.7 billion Canning Town and Custom House Regeneration Programme, recently held a topping out ceremony, marking the completion of the 11-s
29/01/2025
Willmott Dixon Interiors is carrying out a significant upgrade to the roof of the National Maritime Museum in Greenwich, one of London's most iconic cultural landmarks.
As part of the £12 million project, the company is installing over 23,000 square feet of sun-protected glazing above the museum’s
29/01/2025
Equans has been appointed by Babergh and Mid Suffolk District Councils to carry out crucial decarbonisation work across the councils' housing stock, using funding secured through the Social Housing Decarbonisation Fund (SHDF).
The councils used the South East Consortium's Zero Carbon Framework to s
29/01/2025
In the world of construction, the quest for energy efficiency and sustainability is ever-evolving. Among the array of solutions available, EPS (Expanded Polystyrene) insulation stands out as a versatile and effective option for enhancing the thermal performance of buildings, particularly when used f
29/01/2025
BCP Council has completed significant coastal protection works at Hamworthy Park, ensuring its resilience against erosion for the next 20 years.
A 200-metre stretch of sea wall along the eastern promenade has been reinforced using low-carbon concrete, while new steps have been constructed to improv
29/01/2025
Geo-environmental consultancy and remediation contractor, The LK Group, has strengthened its team with a trio of recruits.
The multidisciplinary company's latest raft of hires comprises a new director, associate director and remediation manager.
The geo-environmental specialist, headquartered i
