LONDON, Sept. 1 /PRNewswire/ -- Novacem, the carbon negative cement company, today announced that it has been selected by the World Economic Forum as a Technology Pioneer for 2011. The Forum has extended the honour to thirty one visionary technology start-ups from around the world who are poised to have a critical impact on the future of business, industry and society. Stuart Evans, Executive Chairman of Novacem, will attend the World Economic Forum Annual Meeting in Davos in January 2011.
Novacem's carbon negative cement is based on magnesium oxide and offers the cement industry a scalable alternative to current carbon intensive production. No carbon emissions are released from the magnesium silicate raw material used, and overall more CO2 is absorbed than emitted during production. Novacem is currently working with a world-class eco-system of partners to accelerate deployment of its technology to market.
Stuart Evans commented, "The race is on – climate change is relentlessly warming our planet and it will be catastrophic if we don't do something about it. The cement industry is doing a great job in facing up to its responsibilities. But it's a mature industry and there is a limit to how far they can improve existing Portland cement technology. It's clear that revolution is needed, not just adaptation. So at Novacem, we want to deploy our carbon negative cement on a global scale as soon as possible. That's how we'll help improve the state of the world!"
You can watch an interview with Stuart Evans about Novacem's role as a Technology Pioneer at http://novacem.com/news/videos/
"The World Economic Forum is proud to recognize an outstanding group of innovative companies as Technology Pioneers for 2011," said Andre Schneider, Managing Director and Chief Operating Officer of the World Economic Forum. "Their technologies and business models will have a durable and valuable effect in several industries and society as a whole. We look forward to their unique contributions to the mission of the Forum: improving the state of the world."
"We were truly impressed with the quality, quantity and diversity of the applicants this year, thereby making the selection process one of the most difficult to date. I would like to congratulate the Technology Pioneers Class of 2011. These companies can be very proud of receiving such a respected and coveted distinction," stated Kevin E. Comolli, Managing General Partner, Accel Partners.
To be selected as a Technology Pioneer, a company must be involved in the development of a major technology and/or innovation and have the potential for long-term impact on business and society. In addition, it must demonstrate visionary leadership and show all the signs of being a long-standing and sustainable market leader – and its technology must be proven. Previous Technology Pioneers include internet luminaries such as Google (2001) and Twitter (2010). Stuart Evans is a rare second time Technology Pioneer – his former company Plastic Logic was selected in 2004.
Note to editors
Novacem, the carbon negative cement company, is a spin-out from Imperial College London and has developed a new generation of carbon negative cement that will offer cost and performance parity with Portland cement. The cement is based on magnesium oxide produced from magnesium silicates, and is a scalable, transformational alternative to current carbon intensive cement production. The company recently announced the first closing of its Green Cement Bond with Lafarge, the world leader in building materials, as the first subscriber.
Novacem is currently working on a development programme to construct and operate a Semi Commercial Novacem Plant (up to 25,000 tonnes per year) to be co-located with an existing cement plant. It will work closely with Bond subscribers in the development of the plant and the first Commercial Volume Plants which will follow. Thereafter the technology will be rolled out to companies in and around the cement industry to ensure its full potential to reduce carbon emissions is realised.
Novacem's Board and management team comprises of a blend of experienced entrepreneurs, innovative scientists, seasoned industry executives and investors. The company raised a 1 million+ pounds Seed Round in 2009 from Imperial Innovations, the Royal Society Enterprise Fund and the London Technology Fund. The company is planning a Series A Funding to support the construction of the Semi Commercial Novacem plant and other development activities.
World Economic Forum Technology Pioneers Programme
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SOURCE Novacem Ltd