Congratulations to Cocoon on their $5.4M pre-seed funding!
Eliot Brooks, William Knapp, and Freddie Scott are an example of the kind of GSD founders we love. In just 15 months, they've developed a scalable solution to advance the decarbonization of steel and concrete. Their modular units fit seamlessly into existing electric steel plants to turn e-slag from an unusable byproduct into a green alternative for cement.
With a focus on scalability, they aim to get a unit into every electric steel plant within the next ten years.
Why is this important? 🧐
Global construction is booming. The next 40 years will be like building a new New York City every month. Without intervention, steel and cement, which already contribute 14-15% of global CO2 emissions, could skyrocket emissions.
As steelmakers electrify, the concrete industry has been left without access to the slag material it relies on as a lower carbon replacement for cement. Now, Cocoon re-links these two industries, allowing them to decarbonize faster together. Concrete producers gain access to the low-carbon material they need while electric steelmakers get a new revenue stream.
✅ The materials needed already exist
✅ The logistic networks are established
✅ There's growing customer demand
With the core technology proven, the next step is de-risking at pilot scale. Cocoon Carbon's journey is just beginning, and we're excited to be along for the ride as they build for gigascale impact.
Read more about today's news in TechCrunch https://lnkd.in/ek9wHCaD
#ClimateTech #Sustainability #Innovation #GreenSteel #climatechange #fundingnews #startupnews
Teammanager CMM bij Hosokawa Micron B.V.
4moNice video MatEvo!