Deeptech startup alcemy headquartered in Berlin has snapped $10 million in funding. The round was led by Norrsken VC (which invested in CEEZER and Granular Energy). Climate investors including Galvanize Climate Solutions and AENU (which invested in Ember and trawa) also participated in the round.
Funds utilisation
The funding round will be used for continued research and development, and to support alcemy’s entrance into multiple new markets in 2024, including the US. In addition, it will scale the company’s revolutionary cement decarbonisation solution.
Investors’ views
“We couldn’t be happier to support alcemy on their journey. Their AI-driven software demonstrates remarkable stickiness in the market and holds immense global potential, making a tangible impact in combating climate change. With a clear vision, proven track record, and a great, growing team, alcemy is poised to lead the charge in revolutionising the cement and concrete industry worldwide,” said Alexander Danielsson, partner at Norrsken VC.
“Galvanize is delighted to invest in alcemy. The company has developed a solution that presents a near-term opportunity to reduce emissions from one of the hardest-to-abate sectors. We’re excited to partner with alcemy’s world-class team to help global cement and concrete producers decarbonise in an efficient, scalable, and profitable way,” added Veery Maxwell, co-head of Galvanize Climate Solutions’ Innovation and Expansion strategy.
“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. The company 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% per ton,” said Fabian Heilemann, founder and CEO of AENU.
AI platform for cement decarbonisation
Founded in 2018 by Leopold Spenner and Dr. Robert Meyer in Berlin, alcemy aims to bring the concrete and cement industry into a new, digital, and greener age. To fulfil this vision, the company uses machine learning and control technology to predict the quality properties of cement and concrete.
Through robust data and smart algorithms, alcemy offers relevant insights along the entire value chain in real-time, from the cradle at cement grinding to the processing of the concrete on the construction site. The handcrafted natural product becomes a data-based high-tech product.
alcemy’s AI platform tackles cement decarbonisation head-on by providing valuable quality predictions throughout the clinker production process and at ready-mix concrete plants. With its software, cement and concrete producers can reduce the clinker content step by step, resulting in up to 65% emissions reduction.
“We launched alcemy with a bold vision: together with the manufacturers, we want to achieve the decarbonisation of the cement and concrete industry, which is responsible for 5-8% of CO2 emissions worldwide. What we have been able to achieve in commercial settings has only ever been done before in a lab. With this additional nearly $10 million in funding and support from Norrsken VC, in addition to our first-round investors, we’re paving the way to a low-carbon construction industry, one project at a time,” said Leopold Spenner, CEO and co-Founder at alcemy.
US expansion plans
alcemy has also picked up leading cement manufacturer TITAN America, a subsidiary of world leader Titan Group, as a customer. The startup will kick off its US activities by deploying its AI-powered quality control software at a Titan’s cement plant in Florida.
“At Titan Group we are leading the digitalisation of cement operations by leveraging both in-house developed AI solutions, as well as tools provided by our trusted external partners. Among the latter, we are happy to have successfully deployed alcemy’s solution in our US operations, having already seen promising results on improving the quality characteristics of cement and creating the conditions to lower our clinker factor after less than a year,” said Othon Manis, Manufacturing Digitization & Data Director at Titan.
What do we think about alcemy?
The recent funding will support its market expansion and scaling of its cement decarbonisation solution. With AI-driven software reducing carbon emissions by up to 65%, alcemy is poised to revolutionise the cement industry, making it a key player in the fight against climate change and advancing sustainable construction practices.
