German Startup Alcemy Secures $10 Million Investment

Berlin-based deeptech startup alcemy has successfully raised $10 million in funding aimed at advancing its innovative cement decarbonization solution. This significant investment follows alcemy's strategic partnership with Spenner, the fifth-largest cement manufacturer in Germany, with whom they developed the world's first commercial-grade low-clinker, low-carbon cement mixture.

German Startup Alcemy Secures $10 Million Investment
German Startup Alcemy Secures $10 Million Investment

Berlin-based deeptech startup alcemy has successfully raised $10 million in funding aimed at advancing its innovative cement decarbonization solution. This significant investment follows alcemy's strategic partnership with Spenner, the fifth-largest cement manufacturer in Germany, with whom they developed the world's first commercial-grade low-clinker, low-carbon cement mixture.

The funding round was led by Norrsken VC and is set to bolster alcemy's research and development efforts while facilitating its expansion into new markets, including the United States in 2024. Contributions from climate-focused investors such as Galvanize Climate Solutions and AENU underscore the global strategic importance of decarbonization initiatives.

Founded in 2018 by Leopold Spenner and Dr. Robert Meyer, alcemy aims to revolutionize the concrete and cement industry by integrating digital technologies and sustainable practices. Leveraging machine learning and advanced control technology, alcemy provides predictive insights into cement and concrete quality properties. This data-driven approach enables real-time quality control across the entire production process, transforming traditional materials into high-tech, environmentally friendly products.

The technology developed by alcemy enhances product quality, reduces production costs, and achieves CO2 reductions of up to 65 percent. Co-founder Leopold Spenner highlighted the company's vision, stating, “We launched alcemy with a bold vision: together with the manufacturers, we want to achieve the decarbonization of the cement and concrete industry, which is responsible for 5-8 percent of CO2 emissions worldwide.” He further emphasized the company's achievements in commercial settings, noting that what they have accomplished in practice had previously only been achieved in laboratory conditions. With the additional $10 million in funding and the support from Norrsken VC and their first-round investors, alcemy is paving the way for a low-carbon construction industry, one project at a time.

Expanding its footprint, alcemy has partnered with TITAN America, a subsidiary of the global leader Titan Group, marking a significant entry into the U.S. market. The startup plans to introduce its AI-powered quality control software at a Titan cement plant in Florida. Fabian Heilemann, founder and CEO of AENU, remarked on the importance of alcemy’s work, saying, “Concrete is one of the most ubiquitous materials upon which society is built. At the same time, it’s one of the biggest polluters on the planet. alcemy is in a unique position to immediately enable the production of more sustainable cement and concrete at scale with carbon emissions reduced by up to 30 percent per ton.”

In Germany, alcemy leads in predictive quality control for cement and concrete, with its technology operational in one-third of German cement plants and over 40 ready-mix concrete plants. This widespread adoption underscores the effectiveness and industry acceptance of their innovative approach.

Norrsken VC, based in Stockholm, is an early-stage fund dedicated to impact investing aligned with the UN’s 17 Sustainable Development Goals (SDGs). Its portfolio includes three “impact unicorns” - Einride, Northvolt, and 1KOMMA5°. Galvanize Climate Solutions, founded by Tom Steyer and Katie Hall in September 2021, is a purpose-driven investment platform focused on accelerating global decarbonization through strategic investments and partnerships. AENU is an evergreen impact fund investing across multiple stages in climate-tech and social impact companies in the EU and the U.S., committed to driving systemic change in venture capital by promoting impact, accessibility, and stakeholder alignment.

With this new funding, alcemy is poised to continue its innovative work, pushing the boundaries of what is possible in the construction industry and contributing significantly to global efforts to reduce carbon emissions.