Novacem Limited Tel +44(0)20 7594 3580The Incubator, Bessemer Building, Imperial College, Fax +44(0)20 7594 1330South Kensington, London, SW7 2AZ, UK www.novacem.com
Novacem: Carbon Negative Cement and the Green Cement BondCSI Forum 2010 • Warsaw • 14 September 2010
Stuart M Evans – ChairmanDr Nikolaos Vlasopoulos – Chief Scientist
Novacem…
Is a spin-out from Imperial College, London that has developed a new carbon negative cement
Will offer a scalable, transformational alternative to current carbon intensive cement production
Has made terrific technical progress over the last two years at the Imperial Incubator; now with a team of 22
Announced it‟s Green Cement Bond in July 2010, with Lafarge as first Subscriber
Now seeking another major cement company to participate in the Green Cement Bond
Planning a major funding round next year to build and operate a Semi-Commercial Novacem Plant
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The CSI audience knows more than most that cement needs radical innovation
Cement is a vital construction material and strategic commodity
Cement volumes are around 2.9 billion tonnes, with significant demand growth set to persist to 2050. China is half the market.
Cement creates 5% of CO2 emissions. Price could double as the industry bears full cost of emissions
Limestone raw material is a fundamental barrier to emissions reductions
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Cement‟s carbon problem
Adaptation is not enough; the
cement industry needs radical new
technologies
Novacem delivers that radical innovation and momentum is building rapidly
Spin-out of civil engineering department of Imperial College. Investors include the Royal Society Enterprise Fund, London Technology Fund and Imperial Innovations
Development supported by a UK government-funded collaborative R&D project with major industrial partners (Laing O‟Rourke, Rio Tinto and WSP)
Already operating an experimental batch pilot plant, currently being upgraded to continuous operation. Next stage is a Semi-Commercial Novacem plant in conjunction with cement industry partners
Business model is process licensing to allow widespread adoption of technology
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The World Economic Forum has named Novacem as one of its Technology Pioneers for 2011
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Geneva, Switzerland, 1 September 2010 –
“The World Economic Forum today announced its new class of Technology Pioneers, comprising 31 of the most innovative technology start-
ups from around the world. These companies represent the cutting edge in innovation and are poised to have a critical impact on the future of business, industry and society.”
- Technology Pioneers coverage in TIME, 20 Sept 2010
MIT Technology Review featured Novacem on list of the 10 most important emerging technologies
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An experienced international team drive Novacem’sdevelopment
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Members of the Novacem Batch Pilot Plant team
International multi-disciplinary team of scientists and engineers
Seasoned entrepreneurs
Savvy industry non-execs
High calibre investors
Major industry partners
We are building the world-class team needed to achieve successful commercialisation
Total typical emissions of -50kg to +100kg CO2/tonne
cement
Novacem has three fundamental differences in embodied carbon compared to current cement production
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Embodied carbon: Novacem vs. current cement production
1. Carbonate feedstock: limestone is dug up and processed. Typically 400kg of CO2
released from limestone per tonne of cement
1. Non-carbonate feedstock (uses magnesium silicates) so no CO2 from the raw material. Limestone & its stored carbon left in the ground
2. High temp process (1,450oC) requires fossil fuel. Typically 400kg of CO2 created from fuel per tonne of cement
3. No absorption of CO2 in cement production
2. Lower temperature process (700oC) can utilise biomass fuel. 0-150kg CO2 created per tonne of cement, depending on fuel mix used
3. Cement composition includes a carbonatecreated during production process by absorbing CO2
Current cement production* Novacem
vs.
Total typical emissions of +800kg CO2/tonne cement
* Global weighted average figures from International Energy Agency 2007
Novacem’s cement is based on two technologies protected by patent filings
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Novacem carbon negative cement is based on two technologies
Novel low-carbon MgO production process based on magnesium silicate raw materials
Novel cement composition based on MgO. Strength developed through the formation of magnesium silicate hydrates (M-S-H) rather than carbonation with atmospheric CO2
Novacem technology strongly protected by four patent filings, of which only one has been published. We have a pipeline of further patents progressing towards filing in the coming months
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The three components of Novacem cement are produced through an integrated production process
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Magnesium silicates
Magnesium carbonate
Novacem Mineral
Carbonation Process
MgOSiO2 based product
Novacem Cement
A key innovation in the process is the scale up of a low carbon method of producing MgO
Use of magnesium silicates eliminates raw material related emissions
Low process temperature allows full use of fuels with low energy content or carbon intensity. Energy 60-90% of ordinary Portland cement;
Chemistry for the mineral carbonation is well understood. Novacem is innovatively scaling up the technology;
Novacem process efficiency outperforms best available data on mineral carbonation.
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Magnesium
silicate
Magnesium
oxide
CO2
Magnesium
carbonate
CO2
Heat
(700oC)
Novacem requires 60-90% of the energy of ordinary Portland cement
Novacem’s energy demand
At the pre-treatment step Novacem has similar energy requirements to drive milling as ordinary Portland cement
At the processing step three materials are produced which combine to form the cement
– MgO, which has the largest energy demand of the three materials, but is produced in a relatively low temperature calcination (700oC) and is typically less than 50% of the total cement composition
– SiO2-based product which is produced as part of the carbonation of the magnesium silicates
– Magnesium carbonates which are produced in a simple carbonation reaction, absorbing CO2 in the process
Finally, no milling of the product is needed after calcination
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• Overall Novacem can achieve energy demand which is 60-90% that of ordinary Portland cement
• Precise energy level driven by choice of raw materials
Each component of Novacem’s cement composition plays a critical role
Novacem cement composition is a unique blend of the MgO, hydrated magnesium carbonates and the SiO2-based products of the production process
The special magnesium carbonates are key in the development of mechanical properties. The carbonates are net sinks of CO2 (300-500kg CO2/tn carbonate) and so the cement achieves a carbon negative footprint during the production stage
During hydration a magnesium silicate hydrate phase (M-S-H) is formed which is analogous to the calcium silicate hydrate phase (C-S-H) formed during Portland cement hydration.
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Performance characteristics of Novacem cement & concrete have significantly improved over last 12 months
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0
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40
50
0 1 2 3 4 5 6 7
Co
mp
ress
ive
str
en
gth
(M
Pa
)
Curing time (days)
Cured at 35 degrees Cured at 20 degrees
We continue to make significant further improvements as we reduce the water to cementratio – currently w/c 0.44 vs theoretical w/c 0.21.
0
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Novacem Cement Paste Novacem Concrete
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14Economically viable sources of Magnesium Silicates are abundantly located in proximity to major cement markets
Novacem team is working with senior mining industry advisors to understand and assess potential sources of suitable magnesium silicates. Headlines of high level scoping report are:
Magnesium silicates are among the most abundant rock forming minerals in the earth‟s crust
At least 9 target terrains exist where rocks with suitable magnesium contents exist. These are being evaluated further
Initial assessment suggests that abundant multi-million to multi-billion tonne resources exist, and that favourable environments occur globally and in economic proximity to the existing major cement markets of the world
Novacem Green Cement Bond allows subscribers to participate in the development of our cement
Innovative technical and commercial approach to partner with major cement companies to mutual benefit to accelerate development and commercialisation of Novacem‟s carbon negative cement
Initial close with Lafarge as First Subscriber announced July 2010; remains open for final close with another cement company
– Nominal value £1Mn - combination of Non Refundable Engineering Fees and Convertible Loan Notes
– Subscribers also expected to participate in Novacem‟s 2011 funding, at which time Loan Notes will also convert
Subscribers get immediate access to Novacem‟s technology and cement for evaluation and testing
They also participate in the development and roll-out of Novacem carbon negative cement
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A Semi Commercial Novacem Plant is the next step in this development
Novacem plans a 25,000 tonne Semi Commercial Novacem Plant as a key step in reducing risks and accelerating roll-out for its licensees
Novacem will use existing resources and proceeds from the Bond in design and development of the Semi Commercial Novacem Plant and other ancillary activities
The 2011 Funding will be used for the Semi Commercial Novacem Plant, for which Novacem will control the design and construction
Novacem will control development and operation of the Semi-Commercial Plant, which is expected to be co-located with an existing or mothballed cement works. Subscribers will participate in the project, and gain early insights into the technology
Continuing Subscribers will contribute „in kind‟ to the Semi Commercial Novacem Plant. The marginal cash cost of such contributions will be treated as an advance payment against future license fees and royalties
Continuing Subscribers will get preferential access to the Semi Commercial Novacem Plant for testing, development, certification, pilot projects and early sales
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Continuing Subscribers have significant first mover advantages at the Semi Commercial stage and beyond
In addition to early access to Novacem‟s technology and the output from the Semi Commercial Novacem Plant, benefits to Continuing Subscribers include
The opportunity to build and operate the first and second, respectively, Novacem Commercial Volume Plants under licence from Novacem
Preferential opportunity to licence additional plants through January 2020
Share in the corporate value created by Novacem by being an early investor and shareholder
Crucial early role and influence in the Novacem eco-system that will help solve the cement industry‟s carbon problem. Reinforces positioning as a responsible industry leader
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General purpose
cement
CEMENTCO
25kg
Novacem will become a powerful low carbon brand
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The potential is enormous and our ambitions match it
Aiming for adoption of carbon-negative cement on a broad basis, and eventually to represent a significant % of cement production
A challenging goal but completely feasible in a low carbon world
We will partner and collaborate with many different players on a non-exclusive basis; our business model is process licensing
Our investors will come from both the financial and industrial sectors. Returns to investors will come from an IPO or trade sale, although this is not likely to be to a cement company
Target is profitable Novacem plants serving significant segments of the market within 5 years; significant further roll-out within 10 years
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Summary – CSI Forum 2010
The cement industry is to be congratulated on all it has done so far to reduce carbon emissions. But it‟s a mature industry and there is a limit on how far it can go. Adaptation is not enough and radical new approaches are required.
Novacem aims to become the first great cement company of the 21st Century by deploying our carbon negative cement in conjunction with other cement companies. We know we can‟t do it on our own.
Novacem will not be a niche product: our objective is full cost and performance parity with Portland cement
Economically viable sources of Magnesium Silicates are abundantly located in proximity to major cement markets; energy at 60-90% of ordinary Portland cement; and production process can be truly carbon negative
The Novacem Green Cement Bond is a great way to start working together. We want our licensees to have profitable Novacem plants serving significant segments of the market within 5 years; significant further roll-out within 10 years
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Thank you!
14 September, 2010
These slides were used as visual aids accompanying an oral presentation by Novacem staff. As such they are not a complete record of the presentation. © 2010 Novacem, except where attributed to others. All rights reserved.
Novacem LimitedThe Incubator, Bessemer Building
Imperial College, South KensingtonLondon SW7 2AZ, UK
Tel +44 (0)20 7594 [email protected] www.novacem.com
Stuart M EvansExecutive ChairmanMob +44 (0)7771 966297 Direct +44 (0)20 7594 [email protected]/in/stuartevans
Further background material
Management Team
Board of Directors
Corporate Profile
Press Release: Novacem named as Technology Pioneer by World Economic Forum
Press Release: Lafarge as first subscriber to Green Cement Bond
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Management Team
Stuart Evans – Executive Chairman (CEO) – a technology entrepreneur since 1984 and was founding CEO at Plastic Logic and Cotag International. His early career was at IBM and McKinsey following an MBA at Harvard Business School. He is a Chartered Director of the Institute of Directors and was a Technology Pioneer at the World Economic Forum in Davos
Dr Nikolaos Vlasopoulos – Chief Scientist & Director – received his PhD and MSc from Imperial College, following completion of his MEng at Democritus University of Thrace in Greece. He also received a Technology Venture Fellowship at Imperial College Business School in 2007.
Howard Simons – VP of Engineering – a Chartered Engineer with over ten years at M W Kellogg as a Technology Manager and Consultant. Also worked for Esso Engineering Europe Limited, Total Marc Rich & other major EPC contractors. He holds a Chemical Engineering degree from Sheffield University and is a Fellow of the Institute of Chemical Engineers.
Dr John Prendergast – Marketing Manager – worked in management consultancy at McKinsey before joining Novacem. He holds a PhD in Structural Engineering from Cambridge University, where he was a Gates Scholar, and a BEng in Civil Engineering from University College Dublin
CONFIDENTIAL – OVERVIEW
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14 September, 2010
Board of Directors
In addition to Stuart Evans and Dr Nikolaos Vlasopoulos, the Board of Novacem comprises:
David Walkerdine – Non-Executive Director – was Strategic and Commercial Director at Redland Aggregates until the time of the acquisition by Lafarge. He continued at Lafarge as VP Strategy of the global Aggregates and Concrete Division, and then as Finance Director at Lafarge (formerly Blue Circle) Cement UK. Subsequently, he was Group Head of Corporate Development at RMC (later acquired by Cemex).
Dr Alan Keasey – Non-Executive Director – was Chairman of Titan Methanol (a BP joint venture based in Trinidad) and a Commercial Director for BP in Trinidad. This followed 25 years in BP Chemicals in technical and business roles, latterly as a research manager in the UK. More recently, he has been Technical and Operations Director at Biofuels Corp and acts as a consultant in the petrochemicals and bio-fuels sectors. PhD from Sheffield
Jon Page – Investor Director – Director of New Ventures at Imperial Innovations where he has been involved with over thirty start-ups over the last eight years. He previously worked at Pricewaterhouse Coopers and NatWest and holds an MBA from London Business School.
Dr Andrew Mackintosh – Investor Director – CEO of Royal Society Enterprise Fund. Previously spent twenty years at Oxford Instruments, where he became CEO of the entire group, and then CEO of a biotechnology instrumentation start-up. PhD from Cambridge.
CONFIDENTIAL – OVERVIEW
24
14 September, 2010
Dsa
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Novacem Limited Tel +44(0)20 7594 3580
The Incubator, Bessemer Building, Imperial College, Fax +44(0)20 7594 1330
South Kensington, London, SW7 2AZ, UK www.novacem.com 1
Corporate profile September 2010
Novacem, the carbon negative cement company, has developed a new cement manufactured from magnesium silicates and is a spin-out from Imperial College London. We offer the cement industry a scalable alternative to current carbon intensive production. Novacem has been selected as a Technology Pioneer for 2011 by the World Economic Forum, and also features on MIT Technology Review’s list of the world’s ten most important emerging technologies for 2010.
Cement’s carbon problem
Cement is a vital strategic commodity with current annual production of 2.9 billion tonnes set to increase to 5 billion tonnes by 2030. However, it is responsible for approximately 5% of man-made CO2; production of one tonne of ordinary Portland cement typically emits 800 kg of CO2. Emissions are driven by processing of limestone (carbonate) raw materials, and use of fossil fuel energy.
In the shift to a low carbon world the cement industry has to reduce emissions or else pay a high price. The world’s leading cement companies already form the Cement Sustainability Initiative which recently produced an emissions roadmap to 2050. This report, written in conjunction with the International Energy Agency, confirms that existing technology has limited potential for further emissions reductions and highlights Novacem as a new technology to watch.
Our carbon negative cement
Novacem cement is based on magnesium oxide manufactured from magnesium silicates, of which more than 10,000 billion tonnes exist worldwide. No carbon emissions are released from our raw material; we leave limestone and its stored carbon in the ground. Additionally, low carbon fuel such as biomass can be used to drive production, and manufacture includes the creation of magnesium carbonates which absorb CO2. Overall, more CO2 is absorbed than emitted during cement production. For every tonne of Portland cement substituted by Novacem cement, CO2 emissions will be reduced by up to 850kg.
We already operate a batch pilot plant and the next stage is a Semi Commercial Novacem Plant. The first commercial scale plants will follow from around 2015. We aim to offer cost and performance parity with ordinary Portland cement.
Novacem will take a global approach with focus on major established markets and large developing ones; including China and India, the world’s biggest cement producers. Our business model will be licensing the manufacture and use of our carbon negative cement; we will partner with leading players on a non-exclusive basis.
Our partners
Novacem recently announced the first closing of its Green Cement Bond, along with the participation of Lafarge, the world leader in building materials, as the first subscriber. The Bond is an innovative approach for engagement with cement manufacturers to accelerate commercialisation of our carbon negative cement. The Bond is for a nominal £1 million in a combination of Non Refundable Engineering fees and Convertible Loan Notes.
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We will employ the proceeds of the Bond to accelerate our Semi Commercial Novacem Plant development programme in conjunction with Bond subscribers. Subscribers will also have the opportunity to build and operate the first Commercial Volume Novacem Plants under license.
Additionally, we previously led a £1.5Mn Technology Strategy Board R&D project with partners including Rio Tinto (a global mining company) and Laing O’Rourke (the largest private UK construction firm), alongside Imperial College. We are also developing relationships with a range of other relevant companies.
Our team
We have assembled a world-class team of entrepreneurs, scientists, engineers and advisers to drive our development. Our Board and Management include:
Stuart Evans – Executive Chairman & co-founder. A technology entrepreneur since 1984, he was founding CEO at Plastic Logic and Cotag International. Early career at IBM & McKinsey, following Harvard MBA. He is a Chartered Director of the Institute of Directors and has twice been a Technology Pioneer at the World Economic Forum.
Dr Nikolaos Vlasopoulos – Chief Scientist, co-founder & Director. PhD and MSc from Imperial College, following MEng at Democritus University of Thrace in Greece. Received Technology Venture Fellowship at Imperial College Business School in 2007.
David Walkerdine – Non-Executive Director. Previously held senior commercial and strategy roles in building materials firms including Lafarge, Cemex, RMC and Redland. He is a Chartered Builder and graduate accountant.
Dr Alan Keasey – Non-Executive Director. Previously Chairman of Titan Methanol (a BP joint venture) and held senior research and operational roles in BP Chemicals and Biofuels Corporation. PhD from Sheffield University.
Jon Page – Non-Executive Director. Director of New Ventures at Imperial Innovations where he has been involved with over thirty start-ups. Previously worked at PricewaterhouseCoopers and NatWest. MBA from London Business School.
Dr Andrew Mackintosh – Non-Executive Director. CEO of the Royal Society Enterprise Fund. 20 years at Oxford Instruments, where he became CEO of the entire group. He was then CEO of a biotechnology instrumentation start-up. PhD from Cambridge University.
Howard Simons – Vice President Engineering. A Chartered Engineer, with over ten years at M W Kellogg as a Technology Manager and Consultant. He has also worked for Esso Engineering Europe Limited, Total Marc Rich and with several major EPC contractors.
Dr John Prendergast – Marketing Manager. A Gates Scholar at the University of Cambridge with a PhD in Structural Engineering. Previously a management consultant at McKinsey & Co.
Our investors and investment status
Novacem raised a £1 million+ Seed Round in 2009 from Imperial Innovations, the London Technology Fund and the Royal Society Enterprise Fund. This was the first investment by the Royal Society Enterprise Fund. The company is now planning a Series A round to fund the Semi Commercial Novacem Plant. Existing investors and subscribers to the Novacem Green Cement Bond are expected to participate, and we plan to broaden our investor group with international financial and corporate investors/collaborators. We have a clear idea of the ‘value added’ we want from investors beyond just money.
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For further information, please contact Stuart Evans at [email protected] or John Prendergast at [email protected].
___________________________________________________________________
Novacem Limited Tel +44(0)20 7594 3580
The Incubator, Bessemer Building, Imperial College, Fax +44(0)20 7594 1330
South Kensington, London, SW7 2AZ, UK www.novacem.com 1 1
NEWS INFO – FOR IMMEDIATE RELEASE – 1 September 2010
London, UK – 1 September, 2010 – Novacem, the carbon negative cement company, today announced that it has been selected by the World Economic Forum as a Technology Pioneer for 2011. The Forum has extended the honour to thirty one visionary technology start-ups from around the world who are poised to have a critical impact on the future of business, industry and society. Stuart Evans, Executive Chairman of Novacem, will attend the World Economic Forum Annual Meeting in Davos in January 2011.
Novacem’s carbon negative cement is based on magnesium oxide and offers the cement industry a scalable alternative to current carbon intensive production. No carbon emissions are released from the magnesium silicate raw material used, and overall more CO2 is absorbed than emitted during production. Novacem is currently working with a world-class eco-system of partners to accelerate deployment of its technology to market.
Stuart Evans commented “The race is on – climate change is relentlessly warming our planet and it will be catastrophic if we don’t do something about it. The cement industry is doing a great job in facing up to its responsibilities. But it’s a mature industry and there is a limit to how far they can improve existing Portland cement technology. It’s clear that revolution is needed, not just adaptation. So at Novacem, we want to deploy our carbon negative cement on a global scale as soon as possible. That’s how we’ll help improve the state of the world!”
You can watch an interview with Stuart Evans about Novacem’s role as a Technology Pioneer at http://novacem.com/news/videos/
“The World Economic Forum is proud to recognize an outstanding group of innovative companies as Technology Pioneers for 2011,” said André Schneider, Managing Director and Chief Operating Officer of the World Economic Forum. “Their technologies and business models will have a durable and valuable effect in several industries and society as a whole. We look forward to their unique contributions to the mission of the Forum: improving the state of the world.”
“We were truly impressed with the quality, quantity and diversity of the applicants this year, thereby making the selection process one of the most difficult to date. I would like to congratulate the Technology Pioneers Class of 2011. These companies can be very proud of receiving such a respected and coveted distinction,” stated Kevin E. Comolli, Managing General Partner, Accel Partners.
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To be selected as a Technology Pioneer, a company must be involved in the development of a major technology and/or innovation and have the potential for long-term impact on business and society. In addition, it must demonstrate visionary leadership and show all the signs of being a long-standing and sustainable market leader – and its technology must be proven. Previous Technology Pioneers include internet luminaries such as Google (2001) and Twitter (2010). Stuart Evans is a rare second time Technology Pioneer – his former company Plastic Logic was selected in 2004.
Note to editors
Novacem Limited www.novacem.com
Novacem, the carbon negative cement company, is a spin-out from Imperial College London and has developed a new generation of carbon negative cement that will offer cost and performance parity with Portland cement. The cement is based on magnesium oxide produced from magnesium silicates, and is a scalable, transformational alternative to current carbon intensive cement production. The company recently announced the first closing of its Green Cement Bond with Lafarge, the world leader in building materials, as the first subscriber.
Novacem is currently working on a development programme to construct and operate a Semi Commercial Novacem Plant (up to 25,000 tonnes per year) to be co-located with an existing cement plant. It will work closely with Bond subscribers in the development of the plant and the first Commercial Volume Plants which will follow. Thereafter the technology will be rolled out to companies in and around the cement industry to ensure its full potential to reduce carbon emissions is realised.
Novacem’s Board and management team comprises of a blend of experienced entrepreneurs, innovative scientists, seasoned industry executives and investors. The company raised a £1 million+ Seed Round in 2009 from Imperial Innovations, the Royal Society Enterprise Fund and the London Technology Fund. The company is planning a Series A Funding to support the construction of the Semi Commercial Novacem plant and other development activities.
For more information contact: Dr John Prendergast, Marketing Manager +44 (0)20 7594 9531 +44 (0)7800 644620 [email protected] World Economic Forum Technology Pioneers Programme
For more information about the Technology Pioneers Programme: http://www.weforum.org/techpioneers Download the Technology Pioneer report at http://sn.im/tp2011 Watch interviews with the Technology Pioneers at http://sn.im/techpioneers2011 Follow the Technology Pioneers on Twitter at http://twitter.com/davos/techpioneers2011 Follow the Forum on Twitter at http://twitter.com/davos Read the Forum Blog at http://www.forumblog.org Press Releases at http://www.weforum.org/pressreleases
For updates about the activities of the World Economic Forum, subscribe to RSS feed
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Novacem Limited Tel +44(0)20 7594 3580
The Incubator, Bessemer Building, Imperial College, Fax +44(0)20 7594 1330
South Kensington, London, SW7 2AZ, UK www.novacem.com 1 1
NEWS INFO – FOR IMMEDIATE RELEASE – 2 July 2010
London, UK – 2 JULY, 2010 – Novacem, the carbon negative cement company, today announced the first closing of its Green Cement Bond, together with the participation of Lafarge, the world leader in building materials, as the first subscriber. The Novacem Green Cement Bond is an innovative commercial and financial approach for engagement with major cement manufacturers to accelerate the development and commercialisation of Novacem’s negative carbon cement. The Bond is for a nominal £1 million (through a combination of Non Refundable Engineering fees and Convertible Loan Notes). It is expected that subscribers to the Bond will also participate in the Series A Funding round currently being planned by Novacem.
Novacem’s carbon negative cement is based on magnesium oxide and offers the cement industry a scalable alternative to current carbon intensive production. No carbon emissions are released from the magnesium silicate raw material used, and overall more CO2 is absorbed than emitted during production. Novacem features on MIT Technology Review’s list of the world’s ten most important emerging technologies for 2010.
Novacem will employ the proceeds from both the Bond and the Series A Funding to accelerate its development programme to construct and operate a Semi Commercial Novacem Plant (up to 25,000 tonnes per year) to be co-located with an existing cement plant. Bond subscribers will work with Novacem in the development of the Plant and share valuable experience in the production of Novacem’s carbon negative cement. They will also have early access to Plant output for testing, development, certification, pilot projects and early sales. Additionally, they will have the opportunity to build and operate the first Commercial Volume Novacem Plants under license from Novacem. Thereafter, Novacem expects to roll out other Commercial Volume Novacem Plants to the subscribers as well as to other cement companies and qualified parties.
Stuart Evans, Chairman of Novacem, commented “We have always known that we would need to work closely with the cement industry to urgently tackle, together, the very serious carbon emissions problems that the industry faces. We couldn’t have hoped for a better first cement industry partner than Lafarge.”
Enquiries about the Second Closing of the Bond should be directed to Novacem Chairman Stuart Evans ([email protected]) or Dr John Prendergast per details below.
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MEDIA ENQUIRIES
Novacem Lafarge press office Dr John Prendergast, Marketing Manager + 33(0) 1 44 34 19 47 +44 (0)20 7594 9531 [email protected] +44 (0)7800 644620 [email protected]
Novacem Limited www.novacem.com
Novacem, the carbon negative cement company, is a spin-out from Imperial College London and has developed a new generation of carbon negative cement that will offer cost and performance parity with Portland cement. The cement is based on magnesium oxide produced from magnesium silicates, and is a scalable, transformational alternative to current carbon intensive cement production. Novacem features on MIT Technology Review’s list of the world’s ten most important emerging technologies for 2010.
Novacem’s Board and management team comprises a blend of experienced entrepreneurs, innovative scientists, seasoned industry executives and investors. The company raised a £1 million+ Seed Round in 2009 from Imperial Innovations, the Royal Society Enterprise Fund and the London Technology Fund. The company is planning a Series A Funding to support the construction of the Semi Commercial Novacem plant and other development activities.
Lafarge www.lafarge.com
Lafarge is the world leader in building materials, with top-ranking positions in all of its businesses: Cement, Aggregates & Concrete and Gypsum. With 78,000 employees in 78 countries, Lafarge posted sales of € 15.9 billion in 2009. In 2010, and for the sixth year in a row, Lafarge was listed in the “Global 100 Most Sustainable Corporations in the World”. With the world’s leading building materials research facility, Lafarge places innovation at the heart of its priorities, working for sustainable construction and architectural creativity.
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