New Zealand-based Neocrete has raised a $3.5 million funding round to expand its concrete decarbonisation technology, according to an announcement.
The round was led by returning investor Wavemaker Ventures and backed by Catalytic Capital for Climate and Health (C3H), a climate- and health-focused investment vehicle backed by Temasek Trust.
Founded in 2018, Neocrete develops additives that enable low-carbon, low-performance materials such as poor-quality fly ash and volcanic ash to replace 30% to 50% of the cement used in concrete.
The company said its technology reduces carbon emissions and costs while maintaining strength, durability, and workability.
“Neocrete stands out because of its reduced carbon emission footprint, lower cost, and a higher-performing alternative to conventional cement,” said Ryan Tan, head of C3H.
The funding will support Neocrete’s expansion into European and US markets and continued commercial deployment in Southeast Asia, where its technology is being used by Readymix Brunei, per the announcement.
The Brunei supplier uses Neocrete’s additives to turn previously dumped, low-quality fly ash into a cement substitute. It has poured 3,700 cubic metres of concrete, cutting embodied carbon by 25%, avoiding about 215 tonnes of carbon dioxide emissions and saving nearly $20,000.
Neocrete’s largest deployment will be the redevelopment of Muara Port, Brunei’s primary port. The project is expected to use about 65,000 cubic metres of Neocrete concrete, save approximately $300,000, and avoid 5,200 tonnes of carbon dioxide emissions.
“Globally, we’ve found customers are willing to pay exactly net zero to achieve net zero,” said Zarina Alexander, Neocrete’s CEO and co-founder.
“Green premiums do not work in the concrete industry. In Brunei, by economically boosting the performance of abundant, low-quality materials, we’ve now proven that it’s possible for concrete makers to cut carbon and cost, with no trade-offs,” she added.
Beyond providing capital, C3H said it will connect Neocrete with partners across the Temasek Trust Collective and the broader climate solutions sector to support its commercial deployment and expansion.
C3H focuses on companies that deliver tangible impact through bold, scalable solutions. It recently anchored a $1.2-million funding round for Singapore-based AI healthcare firm injewelme.
