Lafarge is the first subscriber to the Bond launched by Novacem, an English start-up, in order to support its development. Subscribers to the nominal £1 million bond are also expected to follow by participating in Novacem's Series A funding.
The funding will be used by Novacem to continue the development of its technology and Magnesium Oxide-based product for the construction industry. It will also be used to study a semi-industrial pilot plant to be located next to an existing cement plant. The subscribers to the bond will have a priority access to test the products and will participate in the study of the unit.
"Lafarge has always placed great importance in Research and Development and its contribution to sustainable construction", says Pascal Casanova, Lafarge's Senior Vice President for R&D. "While considerable resources are dedicated to our in-house research projects, we are also interested in external promising technologies, which is why we support Novacem at this early stage of its development".
Lafarge has placed innovation at the heart of its strategy with a focus on sustainable construction, and has engaged in a ambitious reduction of its environmental footprint, lowering by 20,7% its CO2 net emissions between 1990 and 2010. The Group has dedicated more than 50% of its research to sustainable construction not only through in-house research programs with the objective of mitigating CO2 emissions, but also through the support of think tanks and external research structures working on alternative options for the future.,.
Notes to editors
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 Euros 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.
Novacem, a company that has developed a new generation of carbon negative cement, is a spin-out from Imperial College London. 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.
Additional information is available on the web site at www.novacem.com.