London Technology Fund invests in Novacem
Summary
London Technology Fund (LTF) has completed an investment in Novacem, a start-up that develops a carbon-negative cement.London’s specialist investor in new technology companies was joint lead in a syndicate which included Imperial Innovations Group plc and the Royal Society Enterprise Fund, together investing over £1m.In contrast, Novacem cement absorbs more CO2 over its life cycle than it emits.David McMeekin, Chairman of LTF, was quoted as saying: “Novacem is developing a formidable technology which has the potential to have a major impact on CO2 emissions.Stuart Evans, Chairman of Novacem, said: “We are delighted to have raised investment from such a strong syndicate of specialist investors.“These funds will help us grow the team, complete an initial pilot plant before the end of 2009 and accelerate development and commercialisation”.