Growth
Material Evolution: Cementing partnerships to protect the planet
- Growth
- Testimonial
- 4 minutes read
Material Evolution's co-founders explain why they partnered with us and how our support is helping them scale up to meet climate challenges.
- Material Evolution's technology reduces CO2 emissions by up to 85% compared¹ to traditional cement manufacturing – according to Material Evolution’s research.
- The firm has a venture debt facility to scale up and build more advanced manufacturing facilities.
- New connections have opened up opportunities for Material Evolution to forge partnerships with investors and customers.
About Material Evolution: Scaling tech to slash carbon footprints
Material Evolution's goal is to reduce one of the biggest, yet often overlooked, contributors to global carbon emissions. The firm's founders explain that after water, cement is the world's most-used material and accounts for around 8% of global CO2 emissions. But it's also one of the hardest sectors to decarbonise.
The company tackles this through its unique 'alkali fusion' method, which enables them to produce a cement alternative with none of the heat needed to manufacture traditional cement. The approach also allows for the use of alternative feedstocks rather than virgin materials, cutting carbon emissions from the manufacturing process by as much as 85%2 compared to traditional cement manufacturing – according to Material Evolution’s research.
Dr David Hughes, Chief Scientific Officer, Material Evolution"Our alkali fusion process enables us to use feedstocks that other companies can't. Waste feedstocks that are currently in millions of tons clogging up our environment, and we want to transform those into valuable construction materials."
The company has already scaled significantly. Five years ago, the team started as a garage-based start-up using parts bought on eBay and producing two tons of cement. Today, Material Evolution’s manufacturing facility can process 120,000 tons of cement a year.
Helping finance the future of low-carbon cement
Sam Clark, Founder and COO, Material Evolution"The reason we chose HSBC Innovation Banking is how easy they were to work with. For us, the relationship was one that we've built for a long time. It's really important for us that we buy into the people and that they have the same goals as us and the same values as us."
Material Evolution needed the right financing to achieve its growth goals. The founders wanted to know more about their financial options and how they could use debt and other instruments to their advantage. We helped by providing a venture debt facility that Material Evolution used to scale its operations and grow the business.
Our ongoing partnership also opens up potential connections with other businesses and industries like real estate and construction.
Dr Liz Gilligan, Founder and CEO, Material Evolution"We're able to get those one-to-one meetings. I think that really unlocks a whole path of new customers for us and also gives us that stamp of approval that comes from working with the [HSBC Innovation Banking] team."
Collaboration and connection are key to success
Dr Liz Gilligan, Founder and CEO, Material Evolution"For me, this is very much a partnership we're trying to build for the long term. We know that we're going to need Capex for our next stages of growth."
Material Evolution is focused on partnerships as a pathway to its goals, including the ambition to reduce carbon emissions by as much as a gigaton by 2040 - which the start-up notes can only be achieved through a combination of innovation, collaboration and financing.
Being "partner-obsessed" is a key value for the company and something that co-founder Sam Clark states is central to helping achieve their goals. We are excited to be one of those partners, providing access to the connections and financial instruments Material Evolution needs to cement its place as part of the climate ecosystem’s key players.
Sam Clark, Founder and COO, Material Evolution"[HSBC Innovation Banking] are different from other banks. They actually genuinely want to understand the challenges. They want to get in our shoes and understand what challenges we face. Our business is obviously complex to an outsider, but HSBC Innovation Banking actually took the time to really learn about the business. They wanted to really build a relationship with us."
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