alcemy secures US$10m funding to enter US market

alcemy secures US$10m funding to enter US market
05 July 2024

Deeptech start-up alcemy has raised a US$10m funding round to scale its artificial intelligence (AI) decarbonisation solution. This news follows a recent update on alcemy’s partnership with Spenner Zement, Germany’s fifth-largest cement manufacturer. The two companies produced a low-clinker, low-carbon cement mixture in a commercial setting, a first for the industry globally.

Led by Norrsken VC, the funding round will be used for continued research and development, and to support alcemy’s entrance into multiple new markets in 2024, including the USA. Leading climate investors, including Galvanize Climate Solutions, AENU and Bitstone, also participated in the round.

With alcemy’s software, cement and concrete producers can reduce the clinker content step by step, resulting in up to 65 per cent emissions reduction, claims the company.

"We couldn’t be happier to support alcemy on their journey. Their AI-driven software demonstrates remarkable stickiness in the market and holds immense global potential, making a tangible impact in combating climate change. With a clear vision, proven track record, and a great, growing team, alcemy is poised to lead the charge in revolutionising the cement and concrete industry worldwide,” says Alexander Danielsson, partner at Norrsken VC.

alcemy has also picked up leading cement manufacturer Titan America, a subsidiary of Titan Group, as a customer. The start-up will kick off its US activities by deploying its AI-powered quality control software at a Titan’s Medley cement plant in Florida.

“At Titan Group we are leading the digitalisation of cement operations by leveraging both in-house developed AI solutions, as well as tools provided by ourtrusted external partners. Among the latter, we are happy to have successfully deployed alcemy’s solution in our US operations, having already seen promising results on improving the quality characteristics of cement and creating the conditions to lower our clinker factor after less than a year,” said Othon Manis, manufacturing digitisation and data director at Titan.

Published under Cement News