Equinor Ventures invests in Saferock AS
Equinor Ventures is pleased to announce an investment in Saferock AS, a Stavanger, Norway based company aiming to produce carbon neutral geopolymer concrete for the building and construction industry.
As the most widely used building material in the world, concrete plays a significant role in the carbon footprint of the building and construction industry. The Norwegian startup Saferock aims to produce fully CO2 neutral concrete by employing by-products from the mining industry.
There is a large, global market for environmentally friendly concrete due to ever-increasing prices for both CO2 quotas and raw materials. While ordinary concrete producers depend on ingredients that are becoming more and more expensive, Saferock can use less expensive waste materials from the mining industry ensuring a product that is both economically and environmentally attractive.
Saferock has raised USD 3,8 million to finance the first piloting factory. The new factory will be in place during 2023 and will use waste materials from the Titania factory in Sokndal. In addition, Saferock will receive USD 1,2 million in grants from Enova.
Saferock represents a circular economy where you create value from waste and in that way reduce the total emissions in a very cost-effective way. “We look forward to developing the company and the opportunities together with Saferock”, says Kjersti Reinsnos, head of Equinor Ventures Europe.
Co-investors are Awilco and GC Rieber.