ACES winner Novacem selected as Technology Pioneer for 2010

Novacem, the carbon negative cement company, has been selected by the World Economic Forum as a Technology Pioneer for 2011.

The World Economic Forum has named Novacem among thirty one technology start-ups from around the world which 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, based on magnesium oxide, 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.

The company, a spin-out from Imperial College London, received early backing from London Technology Fund (LTF), London’s specialist investor in new technology companies. LTF was joint lead in a syndicate which together invested over £1 million in Novacem in August 2009.

David McMeekin, Chairman of LTF, said, “Novacem’s technology has the potential to transform the cement industry from being an emitter of CO2 to an absorber of CO2. We are delighted that the outstanding potential of this technology has been recognised in prestigious awards from MIT’s Technology Review, the Bloomberg New Energy Finance Summit and now the World Economic Forum.”