The latest news on our journey to reduce CO2 emissions in the cement industry
Cemvision Raises €10 Million to Scale Green Cement
Cemvision has secured a record €10 million in seed funding, the largest known in the cement industry to date. The priority is now to double both team and production capacity. This will lay the groundwork for the next phase: investing in new cement plants to bring more green cement to the global market.
In June 2023, Cemvision transitioned from pilot to demonstration production levels, marking an important milestone as a startup. At the end of that year, Cemvision signed its first commercial contract with LKAB, a Swedish state-owned mining company. This agreement marks the first kick-off deliveries of green cement from Cemvision's new demonstration facility. The recent closure of the €10 million seed funding round further strengthens Cemvision’s commitment to scaling up its green cement production.
"This milestone demonstrates that we continue to have the confidence and support from both existing and new investors to keep growing. This investment allows us to expand both our team and production capacity to accommodate our current priority: delivering our green cement to our first customers", says Oscar Hållén, CEO of Cemvision.
The €10 million seed funding was led by existing investors BackingMinds and Polar Structure, with additional contribution from new investor Zacua Ventures, which specializes in sustainable construction projects.
"Cemvision's potential is nothing short of extraordinary - the company is ready to lead the cement industry's evolution towards zero emissions. With a top-class team that combines heavy industrial experience with a fresh approach, they are ready to significantly shake things up. We are incredibly excited to embark on this journey together with the team and our highly respected co-investors", says Juan Nieto, General Partner at Zacua Ventures.
The global cement market, valued at nearly $400 billion and responsible for 8% of worldwide carbon emissions, presents a significant climate challenge but also opportunity for change. And the demand for change is larger than what Cemvision currently has capacity for. The funds will be used to strategically scale in 2024 by expanding both the workforce and production capabilities of the company. The current team of 15 employees is set to at least double, and the production capacity is planned to increase from 4,000 tons to over 10,000 tons annually.
“To meet the significant demand for our green cement, these expansions will position us well for the next step as we continue to build out our production capacity. A major advantage for Cemvision is our ability to leverage existing infrastructure as we continue to scale.”, says Hållén, CEO.
Read more about the seed funding here:
About Cemvision
Cemvision offers an alternative to traditional Portland cement, reducing CO2 emissions by over 95% while maintaining durability and performance. It is produced using raw materials recycled from industrial waste and kilns powered by green energy at much lower temperatures. Cemvision's cement achieves early strength up to 5 times faster than Portland cement, enabling increased productivity. The company was founded by three experienced leaders from major global cement giants.
Cemvision Listed One of Fast Company’s Top 10 Most Innovative in 2024
Cemvision is recognized by Fast Company’s annual list of the Most Innovative Companies, a title shared with industry leaders like Nvidia, OpenAI, and Microsoft. In its category, Cemvision is named one of the top 10 innovators for “industrializing a circular method of cement production”.
Cemvision has earned a spot on Fast Company’s prestigious list which annually identifies companies that significantly impact society through innovation and remarkable milestones. Cemvision’s inclusion in the Urban Development and Real Estate category as one of top 10 influencers underscores its commitment to reshaping the built environment with its cutting-edge Re-ment- the carbon-free and circular cement alternative.
“We are very proud to be picked up by Fast Company as one of the top innovators in our field. It is very satisfying to see increasing awareness around the challenges of the construction industry, and even more so to see our innovation acknowledged as a game-changer - not only to the industry but to society as a whole”, says Oscar Hållén, CEO of Cemvision.
Fast Company reported on the challenges faced by the real estate sector during last year, characterized by financial insecurities that threatened to hamper the innovation and design of our cities. Against this backdrop, Cemvision was recognized for its pioneering efforts by industrializing a circular method of cement production.
Fast Company remarks “Swedish firm Cemvision has devised a cement process utilizing industrial by-products from steelmaking and mining—basically recycled industrial waste—instead of virgin limestone. This not only makes the process more circular, it also cuts down on the emissions released from the traditional process of heating limestone. It makes cement-mixing much more energy-efficient, too—it can electrify the heating production process via plasma technology or hydrogen instead of having to rely on polluting fossil fuel for industrial heat.”
However, the challenges extend beyond real estate to all construction projects where cement is used through its uptake in concrete. Today, cement production is responsible for 8% of global carbon emissions, making it one of the most polluting industries worldwide. The urgency to address this issue is compounded by projections that approximately 75% of the infrastructure needed by 2050 has yet to be built, along with 40% of new buildings.
These figures highlight the significant environmental challenges facing the entire construction industry, as well as the need for innovative disruption. Cemvision's pioneering approach, as Fast Company noted, involves creating a new formula for cement binders that eliminates the need for “Carbon Capture and Storage” (CCS) technology. In this way, Cemvision’s cement reduces emissions by 95% compared to traditional Portland cement, and offers a less energy-intensive and more cost-effective solution.
“If we are truly committed to reaching our climate goals, we must significantly lower our CO2 emissions across the board. As a climate-first company, we have developed a cement that not only significantly reduces emissions but also enhances resource and energy efficiency. Our distinctive advantage is that our technology is market-ready and can start making a positive impact today”, remarks Hållén, CEO.
About Cemvision
Cemvision offers an alternative to traditional Portland cement, reducing CO2 emissions by over 95% while maintaining durability and performance. It is produced using raw materials recycled from industrial waste and kilns powered by green energy at much lower temperatures. Cemvision's cement achieves early strength up to 5 times faster than Portland cement, enabling increased productivity. The company was founded by three experienced leaders from major global cement giants.
About Fast Company
Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies, and thinkers on the future of business. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication Inc., and can be found online at Fastcompany.com.
Sweden’s LKAB Signs Green Cement Deal With EQT-Backed Startup
Swedish state-owned miner LKAB AB has signed a contract with a startup company to supply it with so-called green cement, a product that strips out emission-heavy limestone and heating from the manufacturing process.
Cemvision AB — which is backed by Breakthrough Energy Ventures, Norrsken and EQT — said the deal with LKAB marks the manufacturer’s first commercial agreement, with pilot deliveries scheduled to begin in March, according to a statement.
The cement industry is one of the most polluting sectors, accounting for about 8% of global emissions. Cemvision says its product will slash carbon emissions by 95% compared to traditional methods. Its cement is currently being made in a demo plant in southern Poland, with capacity for 4,000 metric tons per year. By 2030, the company aims to produce 5 million tons annually.
“Over the next four years, we will sign and operationalize a large number of commercial contracts and reach significant scale in the market,” Cemvision Chief Executive Officer Oscar Hallen said.
Hallen says the company is in the process of raising new capital to set up the necessary organization and infrastructure to operate plants in Europe and the US.
There’s “a significant funding need” over the coming years, he said.
Cemvision featured on prestigious innovation list (Swedish)
The tech paper NyTeknik appoints Sweden's best technology startups every year in what is known as the "33 list".
For the sixteenth year in a row, Ny Teknik has named Sweden's 33 best, most innovative, and promising new technology companies and this year we are very proud that Cemvision is doing its premier on the prestigious list.
This is what Ny Teknik themselves say about the list:
The 33 companies on the list are the Swedish young technology companies that are most interesting right now.
They have the potential to change their industries and play an important role in technological shifts in society.
And about Cemvision:
Cement accounts for nearly eight percent of the world's carbon dioxide emissions today. In November, Cemvision starts demo production of its green cement - completely without carbon dioxide emissions. At the same time, trials are underway with cement and concrete users. The goal is to cut emissions in the cement industry, which today accounts for nearly eight percent of the world's carbon dioxide emissions.
- To say that we are the Tesla of the cement industry sounds cliché, but we are also a player that wants to accelerate the green transformation with new solutions in a traditional industry, says co-founder Claes Kollberg.
The cement stirrer "mixes with chemistry" in new cement recipes where the raw materials are recycled from industrial waste and the kilns are powered by green electricity.
The details are not disclosed. But the technology, the business potential, and the founders have been given the thumbs up by Bill Gates' climate fund Breakthrough Energy Fellows. The fund finances research, development, pilot, and demo trials for two years.
Winners of 2023 Startup 4 Climate
Among 8 shortlisted climate startups, Cemvision made it all the way as one of the winners in this year's Startup 4 Climate.
The annual Startup 4 Climate is one of Europe's leading startup competitions, premiering innovative technologies that can drive real change to tackle climate change and lead the energy transition.
The prize of 1 million SEK will be put to good use
As we are currently ramping up our production, moving from pilot scale to demo scale, the prize money will be put to good use financing part of the production and initial electrification trials, says Oscar Hållén, CEO
Swedish startup: We are the Tesla of the cement industry
In November, Cemvision starts demo production of green cement – completely without carbon dioxide emissions. The facility is financed by Bill Gates, who will support the Swedish startup for one more year.
Claes Kollberg was well aware that the cement industry was a major climate villain when he was a freshly graduated engineer. That’s why he applied to Cementa, as the company was called then.
– I wanted to enter the worst industry and try to make a difference. Also, I wanted to work in Africa, where I had done my master thesis, and at KTH’s job market days, Cementa had a map with lots of dots in Africa, he says.
We meet in Degerhamn on Öland at Cementa’s former cement factory. The autumn wind is chilling; the enclosed area looks deserted. Heidelberg Materials, as the company is now called, has ceased its operations in the plant. But when Claes Kollberg started here as a trainee in 2002, production was in full swing, and carbon dioxide was billowing from the chimney. When he left the company 15 years later, he was factory manager. In the meantime, he spent five years in Africa to build and renovate cement factories in Tanzania and Gabon. He also started algae farming in Morocco, where the algae were fed with carbon dioxide from a factory’s flue gases.
Indeed, emissions were reduced during his years at the company. But in 2018, Claes Kollberg chose to go to Vattenfall and the Swedish green steel venture Hybrit.
– I wanted to work in an industry where the development towards fossil-free moved faster, he says.
Two years later, he made a comeback in the cement industry. This time, as co-founder of Cemvision, which he started with Paul Sandberg and Marcus Olsson, who also have heavy backgrounds in the cement business. Their inspiration came from how Tesla managed to accelerate the fossil-loving automotive industry.
– To say that we are the Tesla of the cement industry might sound cliché. Still, we are also a player who wants to accelerate the green transformation with new solutions in a traditional industry, says Claes Kollberg.
Cemvision’s solution is to “mix with the chemistry” in new cement recipes without virgin limestone, which is the problematic ingredient in common so-called Portland cement. When limestone is heated, carbon dioxide bound in the Earth’s crust for millions of years is released. Additional emissions come from enormous kilns heated with fossil fuels.
– Our raw materials are recycled from industrial waste, the temperature and energy consumption are significantly lower than in traditional cement production, and our kilns will be powered by green electricity, summarizes Claes Kollberg.
Otherwise, the company is secretive about the details. But the technology has been reviewed by heavy experts, who gave the thumbs up. Among thousands of applicants, Cemvision receives support from Bill Gates’ climate fund Breakthrough Energy. This is after extensive due diligence of technology, business potential, and founders.
The fund finances Cemvision’s research, development, pilot, and demo trials for two years starting September 2022. In addition, the company gains access to a large expert network. Last summer, an important milestone was reached when the company produced its first fossil-free cement clinkers on a larger scale – one ton per day – entirely based on recycled material from the mining and steel industries.
In November, a larger demo plant will be operated at a secret location in Central Europe. In addition to the rotary kiln, the facility includes all the process steps in a small cement factory with the capacity to produce 12 tons per day.
The next technical challenge is to electrify the kilns. Plasma technology and hydrogen will be tested, for example. At the same time, trial castings are underway in cooperation with concrete manufacturers and users. The partners' names are not public except for the Nordic constructor Peab, whose subsidiary Swecem has invested in Cemvision.
Since last year, the number of employees has increased from four to twelve, and Claes Kollberg hopes to have significantly more colleagues joining soon. The company wants to raise around 10-12 million euros to build the organization required for a large-scale cement producer.
– Our ambition is to produce 5 million tons of cement by 2030 and grow globally, says Claes Kollberg.
However, the company will never be able to replace all the Portland cement worldwide. The by-products used as raw materials will “only” suffice for 25 percent of global production. Claes Kollberg is therefore clear that more solutions are needed to reduce the cement industry’s emissions, including capture and storage of carbon dioxide, CCS, which Heidelberg Materials wants to invest billions of Swedish kronor in.
– We support everyone who does something instead of just talking. But CCS is far too expensive and energy-intensive to be a realistic alternative in, for example, Africa, where the most construction is taking place.
Where will your first factory be located?
– The fastest way to get started is to use existing cement factories that are not in operation or where the limestone is running out. There, the environmental permits are in place, and the staff is trained.
As here in Degerhamn?
– Anyone who owns factories that are not in operation is welcome to contact us, says Claes Kollberg diplomatically and continues:
– We need to get started quickly to reduce carbon dioxide emissions. Humanity’s survival depends on it.
Pilot production of 100% circular, CO2-free, fossil-free cement
Swedish CemVision has completed largescale pilot production of fossil-free cement.
The results indicate huge reductions in the cement industry’s carbon dioxide emissions.
Swedish tech company Cemvision, which develops technology for the production of environmentally friendly cement, has now produced large-scale volumes of fossil-free cement based entirely on recycled materials from primarily the mining and steel industries. The result enables the production of what is potentially the market’s most climate-friendly cement. The cement industry accounts for 8 percent of global emissions, an estimated 3 billion tons of carbon dioxide annually, a figure that can be quickly reduced with the help of Cemvision’s technology.
Cemvision has produced fossil-free cement in its pilot plant, which has a capacity of several hundred tons per year. Test production is now moving to the company’s demo facility, with an annual capacity of several thousand tons of cement. In the following step, Cemvision invites collaborations to scale up production to hundreds of thousands of tons and, with it, almost as large savings in carbon dioxide emissions.
- We are a climate-first company making high-performance cement. With our competence and experience, it is our duty to produce the most environmentally friendly cement for each application to help in the battle against climate change, says Claes Kollberg, co-founder and CTO, Cemvision.
According to Cemvision’s method, the solution for fossil-free cement is to let other industries’ residual materials become high-value raw materials, which is both resource-efficient and means that carbon dioxide emissions are completely avoided. Manufacturing cement also requires high temperatures to process the raw materials. Cemvision’s solution enables the use of green electricity instead of coal or other fossil energy sources that the industry uses today. Thanks to raw materials other than limestone, the total energy consumption in Cemvision’s production is also significantly lower than in traditional cement production.
Cemvision’s cement can be used as a drop-in product to help traditional cement manufacturer reduce their carbon footprint, or used as a stand-alone cement product
to replace traditional cement and consequently provide a completely fossil-free alternative.
- The cement industry’s climate impact is a huge global problem. In the short term, there is no alternative to replace the world’s need for cement, the main ingredient in concrete and the world’s most used building material. Instead, we have now proven that it is possible to produce cement with new methods and other raw materials, by successfully producing large volumes of cement with minimal emissions, says Oscar Hållén, CEO of Cemvision.
large-scaleTest results from the large scale pilot production show both cost and performance benefits. The product’s properties show early high-strength development, which can enable faster and new ways of building. It also means that the amount of cement can be reduced in concrete constructions which also affects the industry’s emissions.