Neocrete raises US$3.5M to make low-carbon concrete cheaper for builders

Neocrete, a New Zealand-based materials startup, has secured US$3.5 million in funding to develop low-carbon concrete that is more economically viable for builders. The round was led by Wavemaker Ventures, with participation from Icehouse Ventures and Catalytic Capital for Climate and Health (C3H), a climate-focused investment vehicle of Temasek Trust. This funding will be used to expand supply to Europe and the US, as well as to deepen commercial deployment in Southeast Asia.

Neocrete's technology focuses on creating additives that enable concrete producers to replace a larger proportion of cement with lower-carbon materials like fly ash and volcanic ash. These materials are often abundant but have inconsistent performance, limiting their use in structural concrete. Neocrete claims its additive can boost such materials to replace 30 to 50 percent of cement while maintaining strength, durability, and workability.

The Brunei deployment is a significant test case for Neocrete's technology. The country's largest ready-mix concrete supplier, Readymix Brunei, has been piloting the additive since 2025. By incorporating Neocrete's additive, Readymix Brunei is now replacing 30 percent of cement in commercial projects with locally sourced waste ash, resulting in a 25 percent reduction in embodied carbon, avoiding about 215 tonnes of CO₂, and saving nearly US$20,000.

The company plans to use around 65,000 cubic metres of Neocrete concrete at Muara Port, which could save about US$300,000 and avoid 5,200 tonnes of CO₂.

Neocrete's technology has been independently verified by the Brunei Building and Construction Industry Control Authority (ABCi) for concrete grades G25 to G50. Neocrete's CEO, Zarina Alexander, explains that the company's approach avoids the higher upfront costs and process changes often associated with green building materials in many markets.

The round of funding reflects growing investor interest in hard-to-abate sectors, such as cement, where emissions are difficult to reduce due to their embedded nature in production processes.