Eurazeo, through its Smart City fund, and the EIC Fund are supporting Materrup’s €26 million fundraising ($29 million), alongside historical investors, UI Investissement, Aquiti, IRDI and Argiduna Capital.
This fundraising will step up the large-scale deployment of regional plants in France and across Europe.
With the decarbonization of the cement industry and the construction sector, Materrup is raising €26 million ($29 million) to support the roll-out of its circular low-carbon cement CCC© technology based on non-calcined clay and boost the deployment of its production units in France and Europe.
Confidence of leading partners
Eurazeo, through its Smart City fund, and the EIC Fund enter Materrup’s share capital alongside historical investors, UI Investissement, Aquiti, Irdi and Argiduna capital.
These new leading investors will enable Materrup to expand its multi-patented technology platform internationally and speed up its industrial deployment in Europe, in partnership with the cement, concrete and construction industries.
Deeptech already widespread on French construction sites
Certified by EIC accelerator and Frenchtech2030, Materrup aims to accelerate transition in the European cement market (estimated at 130 Mt in 2022) through its structural and certified cement offering, a real alternative to conventional carbonated cements thanks to a low-cost, low-carbon technology that can be deployed immediately. Materrup has already sold over 10,000 m3 of MCC1© cement-based low-carbon concrete for precasting and ready-to-use concrete applications (foundations, floorings and walls).
A fast, accessible, impact-driven deployment model
Materrup is a major player in low-carbon cement as the inventor of a disruptive cement technology based on non-calcined clay. This mature and easy-to-deploy solution provides its industrial partners with a market advantage.
With the commissioning of its first scale plant in France (Landes) in 2022, Materrup already commercializes its MCC1© cement in France.
This transaction will allow Materrup to deploy a further 10 plants in France and across Europe, through co-investment with existing manufacturers.
Strategic industrial partnerships
Materrup has already entered into several key partnerships with public and private entities, including the Vicat group, Vinci, Demathieu Bard, Edilians, the Scientific and Technical Center for Building (CSTB), the Fehr and Duhalde groups, BNP Real Estate, Bouygues Immobilier and Domofrance.
This fundraising will be used to extend this ambitious partnership strategy with European industrial players and deploy Small Modular Cement Plant (SMCP©) technology and production units.
New strong and transparent governance
To improve performance and gender parity, the Board of Directors appointed Julie Neuville as Chairwoman of Materrup. In her new role, Julie will support Materrup’s ambitions in this new development phase, continuing to promote the company, its technology and its deployment model in France, Europe and worldwide.
She will form a complementary and strategic duo with Mathieu Neuville, co-founder and CEO. Charles Neuville, co-founder, will continue to consolidate all business and finance matters as CFO, while Manuel Mercé is CDO in charge of certification and standardization.
These four managers share the same social, environmental and economic values and will support Materrup’s project in this new development and roll-out phase.
Alice Besomi, Investment Director, Pierre Devillard, Managing Director, and Matthieu Bonamy, Partner, at Eurazeo said:
“We are proud to partner with Materrup in implementing a strong industrial development platform to deploy its unique, competitive and certified technology globally. Materrup perfectly fits the DNA of our Smart City fund, which seeks to support robust management teams with the necessary experience and capabilities to implement an ambitious carbon emission reduction roadmap. We believe this fundraising will make Materrup a key driver in decarbonizing the European cement industry, a high emitter of both CO2 and other greenhouse gases.”
Mathieu Neuville, CEO and co-founder of Materrup:
“At Materrup, we have a clear aim: to do better with less, by significantly and immediately reducing the carbon footprint of cement. This fundraising highlights the power and potential of our technology and we are delighted to see Eurazeo and EIC Fund join our historic investors to support our growth ambitions.”
Julie Neuville, Chairwoman of Materrup:
“Carbon avoidance is part of Materrup’s DNA: non-calcined clay is a real shock absorber, not only for carbon, but also for energy and competitiveness. With the entry into our capital of Eurazeo and the EIC Fund, we can accelerate our commitment to the planet by immediately deploying a production model based on virtuous circular economy loops in Europe.”
Svetoslava Georgieva, Chair of the EIC Fund Board:
“The EIC Fund is proud to participate in this funding round for MATERRUP, a young innovative company developing and marketing a revolutionary alternative and virtuous cement technology. This technology has the potential to become a European technology leader in the construction sector.”
