Prometheus Materials raises $8 Million to launch commercial production
Prometheus Materials, a zero-carbon building materials company, has closed on a $8-million Series A financing round led by Sofinnova Partners.
“To prevent catastrophic climate change, we cannot simply replace fossil fuels with renewable forms of energy – we must also decarbonize the way we create building materials,” Prometheus CEO Loren Burnett said in a statement. “By using biological rather than chemical means to create a strong, durable binding agent for aggregate, we can now offer a zero-carbon alternative to carbon-intensive portland cement. Our bio-cement will transform architecture as we know it, by providing the construction industry with a new decarbonized building material that has environmental and mechanical properties that mirror or exceed the capabilities of concrete, wood, steel, and glass.”
Over the next two years, Prometheus will use its Series A funding to begin commercial production of other zero-carbon building products such as precast biocomposite and ready-made biocomposite, the company said in a news release.
“When mixed with aggregate, this bio-cement creates a zero-carbon building material with mechanical, physical, and thermal properties comparable or superior to portland cement-based concrete,” the company said.
This article was first published by BizWest, an independent news organization, and is published under a license agreement. © 2022 BizWest Media LLC.