NeoCem, a France-based developer of low-carbon cement binders, has raised 17 million euros (about $19 million) from Credit Mutuel Impact. The company uses recycled clay byproducts to replace traditional clinker, cutting CO2 emissions by up to 90% compared to standard cement. The funding will expand its production site to a capacity of 200,000 tons per year and support partnerships in France and abroad. Cement production accounts for roughly 8% of global CO2 emissions, with over 900 kg of CO2 released per ton of material. NeoCem's technology aims to offer a drop-in solution at no extra cost, using locally sourced industrial waste. The round was led by Credit Mutuel Impact's Article 9 fund, signaling growing investor interest in hard-to-abate sector solutions.
