A New Zealand company is turning ash that used to get dumped into commercial concrete, and it’s winning customers on price, not on green credentials.
The problem
Making cement accounts for roughly 8% of global carbon dioxide emissions. The usual fix is swapping some cement for fly ash or volcanic ash. But a lot of that ash is too poor in quality to hold up, so it goes to waste.
How it works
Neocrete’s additive activates low-grade ash so it can replace 30 to 50% of the cement in a mix without losing strength. The company was founded in 2018 by Zarina Alexander and Matt Kennedy-Good.
The proof
In Brunei, Readymix Brunei has poured 3,700 cubic metres of concrete with 30% of the cement replaced, cutting embodied carbon by 25% and avoiding about 215 tonnes of CO2. Around 65,000 cubic metres is forecast to be poured at Muara Port. The company says Readymix saved nearly $20,000 and that Muara Port is projected to save about $300,000.
The raise
Neocrete raised US$3.5M, led by returning investor Wavemaker Ventures, with Icehouse Ventures, C3H (Temasek Trust’s Catalytic Capital for Climate and Health) and angels Doug Parker and Steve Melhuish.
My read
It comes out cheaper, not dearer. A commercial supplier picked it to save money rather than to look green, so the pitch has survived the hardest kind of customer. That’s the version of climate tech that actually scales.