Low-carbon cement materials developer NeoCem announced that it has raised USD$19 million in a new funding round from asset management company Crédit Mutuel Impact, with proceeds aimed at scaling the deployment of its low carbon cement technology.

Cement production is a significant contributor to global greenhouse gas emissions, and one of the more difficult sectors to decarbonize. Cement currently accounts for approximately 8% of global carbon dioxide emissions, with over 900 kg of CO2 emissions generated for every 1,000 kg of material produced. Conventional cement contains an average of 77% clinker, which is produced by heating limestone in a process that releases significant amounts of CO2.

Founded in 2021 by Christophe Deboffe and Benjamin Constant, France-based NeoCem produces low-carbon cement binders using recycled clay byproducts. The company said that its technology reduces CO2 emissions by up to 90% compared to traditional clinker or standard cement, while maintaining equivalent technical with no additional cost to the market.

The company’s technology is based on a circular and locally sourced model, recycling clays derived from abundantly available industrial waste and co-products.

NeoCem said that the new capital will fund the expansion of its existing industrial production site toward a target capacity of 200,000 tons per year and support a large-scale deployment strategy based on industrial partnerships and joint ventures in France and internationally.