LCM has partnered with numerous asphalt manufacturers, contractors and local councils in the UK. David Elliott, MGL Group’s joint chief executive, Alan Patrickson, Durham County Council’s corporate director for neighbourhoods and climate change, and Dr Natasha Boulding, Low Carbon Materials CEO.
In 2024, Ada Ventures led a £3M Growth Acceleration Round in Low Carbon Materials (LCM), a climate-tech company focusing on developing low-carbon, next-generation material alternatives for the construction industry.
Climate change targets are becoming increasingly stringent and major contributors such as construction projects are facing heightened scrutiny. Concrete in the built environment accounts for 8% of global carbon emissions. 25 million tonnes of asphalt are laid in the UK alone. There is a pressing need for greener alternatives.
LCM has an innovative and knowledgeable team developing a unique patentable product portfolio and is in the right market at the perfect time. They are a force for good, have a recognisable brand and are backed by a powerful network. Their products offer large construction businesses a simple and scalable way to reduce their CO2 output. We’re excited that they are joining the portfolio.
The team behind LCM are working towards the decarbonisation of concrete and asphalt with a growing product portfolio. LCM designs and manufactures carbon-negative aggregates, the essential crushed stone, sand, or gravel components that give concrete and asphalt its strength and stability.
In the UK each year, 270m tons of aggregate are used in concrete. This is set to increase in 2035 to 323 tons in Great Britain alone.
LCM’s flagship product, OSTO®, a lightweight aggregate, transforms concrete production by providing a sustainable alternative to traditional lightweight aggregates. Simultaneously, ACLA®, LCM’s carbon-negative aggregate for asphalt, actively contributes to the decarbonisation of road infrastructure across the UK.
High-profile collaborations, such as a resurfacing project on the M11 with National Highways highlight the industry’s growing confidence in ACLA®’s potential to transform road construction. Numerous decarbonisation road projects with local councils, alongside partnerships with key players showcase the demand and widespread adoption of LCM’s solutions.
When using ACLA in road construction, only 5–8% of the traditional aggregate needs to be replaced to reach net zero.
We’re excited to back interesting, patented technologies in a potentially over-looked sector that hasn’t attracted a lot of venture capital to date. This company has incredible potential to significantly reduce carbon emissions and clearly fits our climate equity thesis.
Climate change targets mean that major contributors, such as construction projects, are increasingly held to account and under scrutiny at the contract stage. That’s why LCM and its technologies are so exciting.
The business was founded more than three years ago by Dr Natasha Boulding, Dr Phil Buckley, and Scott Bush, three Durham University PhD scientists (a chemist, a physicist and a mathematician). We would also be backing a stable, complementary team.
They have methodically and successfully executed on developing and protecting their IP, building out the facilities, validating the technologies with real-world projects up and down the country and securing commercial arrangements with customers.
LCM was also a finalist for the Earthshot Prize, a prestigious global environmental award. This is an invaluable opportunity to accelerate LCM’s decarbonisation efforts and expand the reach of its innovative solutions.
It’s an additional bonus that the CEO-founder is a woman scientist, and that the company is based in the North East of England, a traditionally overlooked and underfunded region. But, stripping the investment decision back to basics, I think this is a superb team in a very large market begging for disruption.
We found this business via the Durham University Angels, a network facilitating investment in start-ups founded by fellow Durham alumni.
The team will be spending the money on rapid expansion, enabling the company to scale its operations and accelerate its impact in decarbonising the construction industry. We want to help them pave the road to success.
