Reclinker has raised £10m as it looks to commercialize its low-carbon technology
A pioneering Bridgend company is poised to commercialize low-carbon technology that turns demolition waste into new cement after raising £10m in an oversubscribed series A equity round.
Reclinker is seeking full production scale following successful industrial trials with 7 Steel UK in Cardiff. The process has been demonstrated through several industrial-scale trials at the electric arc operation of 7 Steel, which makes steel for recycled steel. Reclinker has made its first commercial sales.
The round was led by specialist climate technology investors Clean Growth Fund and AP Ventures, with further participation from the Development Bank of Wales and existing investors including Zero Carbon Capital, Kibo Invest and Cambridge Enterprise. The investment combines international climate technology expertise with Welsh support to support the commercialization of proven processes at industrial scale in Cardiff.
The Reclinker technology, developed at the University of Cambridge, recovers cement paste from construction demolitions and turns it back into clinker in an electric arc furnace that has been used to recycle steel.
Because it uses existing steel infrastructure, Reclinker can scale with relatively low capital investment. The new funding will support production in Cardiff to 120,000 tonnes per year and help replicate the model at additional electric arc furnace facilities in Europe and the US.
The market opportunity has also been validated through the advance market commitment of Innovate UK, where large concrete users have publicly stated their intention to introduce a significant volume of low carbon clinker in the next five years.
Cement is one of the most difficult sectors to decarbonise in the world, responsible for around 7% of global Co2 emissions – roughly three times the emissions of aviation. Most of them arise from the production of clinker, the main ingredient of cement, with about 53% of emissions coming from the calcination of limestone and 35% from fossil fuels burned in high-temperature kilns,
Reclinker’s electrically driven circular process requires no kilns, no limestone to be mined and no heat driven by fossil fuels. Its cementitious slag is processed and sold in mixed cement products, expected to deliver a direct 50% reduction in emissions with more reduction as a technological scale – in cost parity with conventional cement.
Bill Yost, chief executive of Reclinker said: “We are happy to receive the backing of both existing and incoming investors. This oversubscribed round sends a strong signal that British investors are serious about decarbonization. We are particularly excited that this investment will support the growth of the green industry in Wales.”
Stephen Price, investment partner at the Clean Growth Fund, said: “Cement is one of the most challenging sectors to decarbonise, with deep emissions attached to both the chemical process and the use of energy. The Reclinker approach is an interesting example of how industrial symbiosis can unlock useful emission reductions by leveraging existing infrastructure.
“By integrating cement production into steel recycling, the company offers a scalable and economical pathway to reduce the carbon intensity of one of the world’s most widely used materials. The Clean Growth Fund is pleased to support Reclinker as it expands production scale and commercial deployment.”
Andrew Hinkly, AP Ventures Managing Partner said: “Portland cement clinker is important for infrastructure development, but remains one of the most difficult sources of industrial emissions to abate. Reclinker has developed a unique, scalable, and cost-competitive route for low-carbon clinker production that can be deployed using existing steel industry capital equipment. Reclinker is a natural investment for AP Ventures in the cement sector.
Gareth Mayhead from the Development Bank of Wales said: “This investment demonstrates the power of co-investment in bringing innovative, high-growth businesses to Wales. By investing together with specialist climate technology investors, we are helping Reclinker establish and grow its presence here, building on the success of industrial trials already carried out in Cardiff.
Gabriella Nizam, head of sustainability and public affairs at 7 Steel UK, said: “We are delighted to be contributing to the development of this world-first technology at the Cardiff site operation.
“We have been a hub for industrial innovation, leading the production of low-carbon electric arc furnace steel for decades, and we are happy to support projects that solve some of the world’s most pressing problems. Reclinker has shown how the existing steel recycling infrastructure can help unlock a low-carbon future for cement production, creating environmental and economic benefits as the technology scales.
Reclinker investment deals, left to right: Stephen Price – Clean Growth Fund (CGF), George Irven – AP Ventures (APV), Bill Yost – Reclinker, Gareth Mayhead – Wales Development Bank, Poppy Brewer – Reclinker, Ben Woodhouse – CGF, Pippa Horton – Reclinker, Alex Garavel – APV, Cyrille Dunant – Reclinker.