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Moxy has raised an $11 million Series A to produce siding, roofing, and other building materials from forest and farming scrap, Axios has learned. 

Why it matters: The material promises to cut emissions associated with what is used for home building.

How it works: Moxy, based in Las Vegas, collects sawdust, corn stalks and other waste from mills and farms and turns the material into building panels.

The material is fire and bug resistant — and sequesters carbon, turning every home into a tiny emissions vault.

The product, called Cerlos, feels like ceramic but resembles engineered wood, similar to what you might find in flooring or furniture.

Between the lines: Trees and other plants of course absorb carbon — a greenhouse gas that then gets released if those plants get burned or decompose. 

When those plants are instead turned into building materials, they retain the carbon they'd absorbed — meaning a home can become a small source for carbon sequestration.  

Driving the news: Moxy in May secured At One Ventures as lead investor in its all-equity raise.

The startup is in talks with other investors who may also join the round, CEO Robert Bedard tells Axios.

What's next: The funds will enable Moxy to make nine-foot samples for production partners. 

An eventual factory will cost about $30 million, Bedard says. Moxy is aiming to start production by the end of 2025, with plans to both manufacture Cerlos itself and license the tech to materials suppliers.

Exclusive: Moxy nets $11M to build walls from sawdust, corn stalks

A photo shows two rectangular panels made from Moxy's Cerlos building material, which it produces from forest and farm scrap. One is a honeycomb panel, the other on top of it is flat and rectangular. Both are Earth-toned in hue.

Moxy's Cerlos material is akin to engineered wood. Photo: Courtesy of Moxy

Climate tech

Moxy has raised an $11 million Series A to produce siding, roofing, and other building materials from forest and farming scrap, Axios has learned. Why it matters: The material promises to cut emissions associated with what is used for home building.

Exclusive: Moxy nets $11M to build walls from sawdust, corn stalks

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