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Prometheus Materials raises USD 8 million in Series A funding
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Jun 7, 2022
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Bio-based Materials

Bio-based Materials

Jun 7, 2022

Prometheus Materials raises USD 8 million in Series A funding

Funding

  • Prometheus Materials, a Colorado-based bio-based building materials manufacturer, has raised USD 8 million in a Series A funding round led by Sofinnova Partners. Microsoft Climate Innovation Fund, Skidmore, Owings & Merrill (SOM), GAF, and The Autodesk Foundation also participated in the round.

  • The funds will be used to produce carbon-zero masonry units (concrete blocks) on a commercial scale at the company’s production facility in Longmont, Colorado. The company also plans to use the funds over the next two years for commercial-scale production of other carbon-zero building materials including precast biocomposite elements (bio-based roofing tiles, wall panels, sound barriers, etc.) and ready-mix biocomposite (bio-based ready-mix concrete).

  • The company plans to market the bio-based concrete blocks to architects, engineers, property and facility developers, and other stakeholders in the construction industry as an alternative to traditional portland cement-based ones. Prometheus Materials has also started conducting pilot projects for its bio-based concrete blocks.

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