Prometheus Materials raises $8 Million to launch commercial production
BizWest Staff
BOULDER — Prometheus Materials, a zero-carbon building materials company, has closed on a $8-million Series A financing round led by Sofinnova Partners.
“To prevent catastrophic climate change, we cannot simply replace fossil fuels with renewable forms of energy – we must also decarbonize the way we create building materials,” Prometheus CEO Loren Burnett said in a prepared statement. “By using biological rather than chemical means to create a strong, durable binding agent for aggregate, we can now offer a zero-carbon alternative to carbon-intensive portland cement. Our bio-cement will transform architecture as we know it, by providing the construction industry with a new decarbonized building material that has environmental and mechanical properties that mirror or exceed the capabilities of concrete, wood, steel, and glass.”
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Over the next two years, Prometheus will use its Series A funding to begin commercial production of other zero-carbon building products such as precast biocomposite and ready-made biocomposite, the company said in a news release.
“When mixed with aggregate, this bio-cement creates a zero-carbon building material with mechanical, physical, and thermal properties comparable or superior to portland cement-based concrete,” the company said.
