Axios Pro Exclusive Content

Prometheus raises $8M for building materials

Alan Neuhauser
Jun 7, 2022
Illustration of a sack of money made out of concrete

Illustration: Sarah Grillo/Axios

Prometheus Materials closed an $8 million Series A financing round to ramp up production of zero-carbon building materials, Axios has learned.

Why it matters: Building stock worldwide is expected to double by 2060 — equivalent to constructing a new New York City every 40 days.

The details: Sofinnova Partners, a European VC firm focused on life sciences, led the round.

  • The Microsoft Climate Innovation Fund, architecture giant Skidmore, Owings & Merrill, GAF, and The Autodesk Foundation also participated.

What's happening: Prometheus says it's developed an alternative to materials derived from Portland cement.

  • Take concrete: The material generates about 7% of the world's greenhouse gas emissions — yet the bulk of those emissions come from production of its key ingredient, Portland cement.
  • Prometheus says it's created a "biocomposite" ready-mix alternative that doesn't use Portland cement at all, as well as materials like roofing tiles, wall panels, and sound barriers.
Go deeper