Material Evolution secure venture debt facility
Venture debt facility from HSBC Innovation Banking to help grow and accelerate company’s commercial traction
MATERIAL Evolution, a pioneering sustainable materials company, have secured a venture debt facility from HSBC Innovation Banking UK, a leading financial partner to high-growth, innovation-led businesses. This facility will support Material Evolution’s continued development and scaling of their breakthrough ultra-low-carbon cement technology.
Founded to decarbonize the cement industry, Material Evolution use alkali fusion and AI-powered design to create ultra-low-carbon alternatives to traditional Portland cement. The company’s proprietary technology enables their first product, MevoCem, to reduce CO2 emissions by up to 85% compared with conventional methods, addressing one of the most significant contributors to global greenhouse gas emissions.
‘As a climate tech hardware business, we know that debt will become an important part of our capital stack as we mature and scale globally,’ said Dr Liz Gilligan, co-founder and chief executive officer of Material Evolution. ‘Securing this venture debt facility from HSBC Innovation Banking is a first step toward diversifying our own financing beyond grants and venture capital and accelerating us toward our fully scaled capital stack.’
The venture debt facility will be used to help grow the company’s commercial traction.
Avisha Blakeway, director at HSBC Innovation Banking UK, commented: ‘We are proud to unlock growth and open doors for innovative climate tech companies. We are delighted to support Material Evolution on this next milestone in the company’s journey and we look forward to working together with the team as they scale their technology and impact.’
