Cocoon

Cocoon has developed a patent-pending, modular technology that upcycles waste from electric arc furnace (EAF) steel production into a low-carbon supplementary cementitious material (SCM). This SCM can replace a significant portion of traditional cement, which is responsible for the majority of concrete's carbon footprint. The process addresses a critical supply chain issue, as the shift to more energy-efficient EAF steelmaking has reduced the availability of traditional slag used as an SCM. Cocoon's system, designed in shipping container-sized units, integrates into existing steel plant workflows, turning a waste byproduct into a new revenue stream for steel manufacturers and providing concrete producers with a necessary low-carbon material.

The company's business model provides an immediate return on investment for its clients, which are primarily steel and cement manufacturers, by turning waste streams into valuable products without requiring capital expenditure from them. For every ton of its slag-based material used, one ton of CO2 can be avoided. In May 2024, Cocoon announced it had raised $5.4 million in a pre-seed funding round led by Wireframe Ventures, with participation from investors including SOSV, Gigascale Capital, and Celsius Industries. The funds are intended to expand its team, commercialize its product, and establish a demonstration facility in the UK. The company delivered a lab-scale minimum viable product and is collaborating with cement manufacturers for validation, with plans for a pilot plant in late 2025.