UK- LTF et al. invest £1m into Novacem
The London Technology Fund, Imperial Innovations and the Royal Society Enterprise Fund have invested over £1m in cement company Novacem.
London-based Novacem is a spin out from Imperial Innovations Group. The company develops cement that absorbs more CO2 over its life cycle than it emits. Novacem's technology is based on magnesium silicates rather than limestone, as is used in traditional Portland cement.
The new funding will be used to grow Novacem's team, as well as complete an initial pilot plant before the end of 2009 and accelerate development and commercialisation of the company's technology.
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