Betolar is a startup specialised in new geopolymer based carbon neutral construction materials for the construction industry and circular economy. The company closed a 2M€ funding round led by Voima Ventures.
Increasing CO2 levels are affecting nature, food production, lives and economies with growing urgency. One of the biggest single contributors to these numbers is the use of cement as a construction material. In fact, cement produces more CO2 emission than the aviation industry. For decades the construction industry has not been able to answer the urgent need to decrease the CO2 emissions. Now, Betolar is changing that.
Betolar aims to eliminate cement with their geopolymer technology while turning any hazardous industrial side streams into value. They are offering a scalable alternative construction material production with up to 80% less carbon emission compared to traditional cement. Besides emission, Betolar can also reduce the need for virgin raw materials by using side streams like ash.
Betolar was founded 2016 and since then the company has developed its methodology, science and IPRs, and is now selling solutions in three key application areas: concrete products, ready-mixed concrete, and soil stabilization. Strong material physics and advanced analytics know-how brings the team strong competitive advantage.
Betolar is looking to start the production with one of Finland’s largest concrete product manufacturers, and is currently piloting with various industrial partners in both Sweden and Estonia, with the longer term aim to expand into Asia. For example in India alone cement consumption is s two times that of Europe’s.
“There has been a strong pull for low carbon construction materials in Asia and we are currently preparing our entry to multiple markets.”, says the CEO of Betolar, Matti Löppönen.
Betolar raised a €2M funding round from deep tech fund Voima Ventures as the lead investor, joined by Taaleri impact fund and Valve Ventures. With the new funding Betolar is looking to execute the first pilot projects and start the commercialization of the product to global markets.
“Betolar’s technology is truly challenging the carbon footprint and quality expectations we have for the construction industry and in particular the cement or concrete being used today. Climate change is a pressing matter, and together with Betolar’s industrial partners we are looking forward to being part of making the carbon friendly and new circular economy based construction industry a reality. The global potential is huge, not only for Betolar but for the whole industry and circular ecosystem.”, says Inka Mero, Managing Partner of Voima Ventures.