A Research Triangle Park firm “growing” construction materials as a way to potentially reduce carbon emissions just raised $65 million.
Biomason disclosed the raise in a press release Monday. CEO Ginger Dosier did not return a request to comment on the raise, which was led by 2150.vc with participation from Celesta Capital, Hartree Partners and others.
Shareholders Martin Marietta Materials (NYSE: MLM) of Raleigh and Novo Holdings also participated in the fundraise. According to a securities filing, a total of eight investors participated.
The round, according to Biomason, will accelerate development of what it calls its “biocement technology platform.” The goal is lofty, to eliminate 25 percent of global carbon emissions from the concrete industry by 2030.
In a statement, Dosier said the raise was a “commercially driven, strategic round for Biomason, and we are honored to work with new and current shareholders to take the next steps for our company.”
Biomason uses a biological process to create its materials, using natural microorganisms to grow biocement without emitting carbon dioxide.
In 2019, the company was aiming to raise $18 million.