The Breakthrough Energy Ventures "BEV" fund, valued at $2 billion and led by Bill Gates, has invested in a company that is developing low-carbon cement. Ecocem Materials, based in Ireland, is addressing a persistent issue: reducing carbon emissions from one of the most polluting industries, as cement production contributes up to 8% of global carbon pollution. Additionally, the lifespan of cement factories can extend over 50 years, meaning that new technologies enter the market very slowly due to the capital-intensive nature of this industry.
The vast majority of emissions from cement are linked to the production of clinker, an intermediate material that accounts for up to 70% of the final product, according to Bloomberg. Clinker is produced by heating limestone in a hot furnace with clay, a highly energy-intensive process that generates significant amounts of CO2, even if fossil fuels are not used.
To tackle this problem, Ecocem has been selling "slag" as a partial substitute for clinker since the company's founding in 2000. Slag, a byproduct of steel production, has chemical properties similar to those of clinker, making its use more environmentally friendly. However, according to Ecocem's founder, Donal O'Rourke, only about 300 million metric tons of slag are produced globally each year, making the goal of green cement difficult to achieve, given the demand for several billion tons annually, as cement is the second most demanded commodity in the world after food.
This is why Ecocem is working on ways to reduce the share of slag and clinker in cement. An effective combination reportedly contains 20% clinker and 30% slag, with filler materials making up the remainder. Breakthrough Energy has invested $27 million in Ecocem, which will allow the company to gain approval from EU regulators to launch its new formulation.
Ecocem also plans to build new factories outside the region, helping to show larger cement companies that its low-carbon formulation can be manufactured in different parts of the world. Other BEV investors include Jeff Bezos and Michael R. Bloomberg. Ecocem ultimately hopes to expand its product offerings by licensing its technology to other companies while continuing to produce some cement independently. Eric Toon, the chief technical officer at BEV, stated, "It’s hard to think of a less exciting topic than cement," which is why we valued the depth and precision of the science and engineering behind Ecocem's approach.
