Funding Details
- Date Award
- May 13, 2024
- Vertical
- Manufacturing and Energy
- Funding URL
- View Funding Page
Company Info
- Traction
- None
- Organizations Involved
- None
- Founders
- Eliot Brooks, Freddie Scott, William Knapp
- Company Description
- The steel and cement sectors stand as two of the most significant contributors to global greenhouse gas emissions, presenting considerable challenges in their journey towards decarbonization. Cocoon Carbon introduces an innovative solution that not only aids these industries in reducing their carbon footprint but also opens new avenues for revenue generation, particularly for steel manufacturers.By harnessing steel slag, a byproduct of electric arc furnaces, Cocoon Carbon offers a novel method to repurpose this waste into a low-carbon, economically valuable alternative to traditional cement. This approach allows two industries challenged by the economic hurdles of decarbonization to collaborate and profit. For steel manufacturers, it valorizes a previously underutilized waste product and integrates carbon capture into the slag’s upgrading process, effectively turning a cost center into a profit center. Meanwhile, the cement industry benefits from access to a sustainable input that lowers the carbon intensity of its products. Cocoon Carbon’s technology exemplifies how environmental sustainability and economic viability can align, delivering mutual benefits to industries at the forefront of the decarbonization challenge.
- Market
- Decarbonising the hard-to-abate sectors of steel and cement
- Location
-
United Kingdom
- Coinvestors
- None
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