The funding round was led by KOMPAS VC to support manufacturing expansion and further research and development.
"What makes Material Evolution different is that we don’t believe it will be one material that saves the world. We believe that to rapidly scale across the industry we need to have localised material sources. We have created a product that not only produces lower emissions but is also lower in cost and has a higher performance. There is no silver bullet solution, but we believe that by decentralising cement production and using previously inaccessible waste we can scale our solution on a global level and truly change the cement industry."
The pre seed round was structured by South Pole, QVentures and Portfolion to prepare for a European rollout.
"We are excited to get started and solve a pressing issue around greenwashing and questions that a lot of the corporate sector are asking right now: where do my certificates come from? will they count towards my sustainability targets? are they impactful? can they be matched to my exact consumption? This is why Renewabl was born."
OnePlanetCapital led the pre Series A round with participation from L-Stone Capital, Brookstreet Equity Partners, Deeptech Labs, TSP Ventures and Metavallon VC to fund overseas growth and team expansion.
"We are thrilled to announce this latest round of funding. Not only will the new investment help us grow worldwide, it will also enhance our product offering and further develop and expand our existing products."
The Dutch fast-charging company has secured fresh capital through retail bonds to scale its infrastructure across Europe.
"We are proud of the trust investors have put in Fastned again. Despite a challenging capital market environment, with continued inflation and increasing interest rates, Fastned once again proved its resilience in the retail bond market with a solid and growing investor base. Together, we not only build fast charging stations on high traffic locations, but we also grow a community around electric driving. We believe that the electric revolution will really take off when charging becomes hassle free and that is why we roll out our network across Europe: to offer freedom to electric drivers. Every day we get closer to our goal of one thousand stations by 2030, where we sell energy from renewable sources like sun and wind, actively helping to curb the climate crisis."
