Cocoon has secured $15.0 million in its latest funding round, an investment aimed at accelerating its mission to decarbonize heavy industries and create low-carbon construction materials. The company is focused on addressing the significant environmental impact of materials like steel and cement, which are crucial for global infrastructure development but contribute substantially to global emissions.
The need for sustainable construction materials is growing rapidly. Projections indicate that the world's infrastructure is set to double in the next four decades, equivalent to building a new Manhattan every month. Steel and cement, essential for this expansion, currently account for 15% of global emissions. Cocoon's innovative approach tackles this challenge directly through a patent-pending process that captures CO2 and upcycles by-products from steel manufacturing into a viable cement alternative.
This capital injection will be instrumental in advancing Cocoon's technological development and scaling its operations. The funds are earmarked to expand the company's small but growing team and to further commercialize its proprietary process, moving closer to widespread adoption of its low-carbon solutions. The investment underscores confidence in Cocoon's potential to make a tangible impact on the climate emergency by providing sustainable alternatives for foundational industrial materials.
Looking ahead, Cocoon plans to leverage this funding to solidify its position as a leader in industrial decarbonization. The company is committed to continuing its growth trajectory, enhancing its technology, and expanding its reach to contribute significantly to a more sustainable built environment globally.
