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Material Evolution

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Low-carbon geopolymer cement from industrial waste streams.

Darlington, United KingdomFounded 2017Real Estate
Valuation $50–100M Last recorded · 2023
Headcount <100 Current team size
Total funding $10–50M Disclosed equity funding
Unlock exact values This page shows ranges. Dealroom has the exact numbers for Material Evolution and the history behind them.

About Material Evolution

Material Evolution is a UK-based materials technology company founded in 2020 by CEO Dr. Elizabeth Gilligan and COO Sam Clark. The venture originated from Dr. Gilligan's materials science expertise and a drive to take direct action against climate change, starting in her parents' garage. The company aims to decarbonize the cement industry, which accounts for approximately 8% of global CO2 emissions. The firm's core innovation is a proprietary, heat-free alkali-fusion process that produces a high-performance, ultra-low carbon cement. This method leverages artificial intelligence to formulate geopolymer cement from industrial byproducts and waste, such as legacy steel waste, effectively creating a circular economy. The resulting flagship product, MevoCem, is a one-part powder system designed as a 1:1 replacement for Ordinary Portland Cement (OPC), reducing carbon emissions by up to 85%. MevoCem achieves a 52.5N strength rating and is engineered for durability in harsh environments, integrating into existing concrete production workflows without requiring operational changes. Material Evolution primarily serves the construction sector, targeting concrete producers, property developers, and government agencies seeking to meet low-carbon objectives. Its business model involves the sale of its cement products and the planned licensing of its production technology. The company has secured strategic partnerships with major industry players like SigmaRoc and Tarmac for product development and pilot projects. In June 2023, the company raised £15 million in a Series A funding round led by KOMPAS VC and Norrsken VC to scale production. This funding facilitated the construction of the Mevo A1 Production Facility in Wrexham, Wales, which became operational in October 2024. The facility, the UK's largest of its kind, has an annual production capacity of 120,000 tonnes and is co-located with a concrete block manufacturer to minimize transport emissions. Keywords: low-carbon cement, geopolymer cement, MevoCem, alkali-fusion technology, sustainable construction materials, construction technology, circular economy, industrial waste recycling, cleantech, decarbonization, green building materials, cement replacement, Series A, concrete admixture, advanced materials, materials science, AI-driven formulation, clinker-free cement, net-zero construction, UK manufacturing

Source: Dealroom company data

At a glance

Status
Operational
Founded
2017
Headquarters
Darlington, United Kingdom
Employees
24
Open positions
2
Dealroom signal
69.6/100
Industry
Real Estate
Sub-industry
Construction
Sector
Real Estate, Core AI, Spinout, Sustainable Development Goals, Urban Tech, Advanced Materials, Sustainable Cement, Climate Tech
Technology
Artificial Intelligence, Hardware, Deep Tech
Business model
Manufacturing
Client focus
b2b

Funding history

6 recorded events

Company financing events and reported valuations.

Deal typeDateAmountValuationInvestorsSource
DEBT✓Debt Jun 2025 $0 — HSBC Innovation Banking ↗
GRANT✓Other financing Aug 2024 $66K — UK Research and Innovation —
Showing the latest 2 of 6 recorded eventsBook a demo for the full funding history →

Growth signals

Material Evolution website traffic

Latest recorded traffic for Material Evolution is 2K monthly website visits, down 23.1% over the last three months. Material Evolution's team grew 4.3% over the past year.

Latest monthly visits2K 3-month web change-23.1% 1-year team growth+4.3%
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Similar companies

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Investments and acquisitions

Capital deployed

Recent portfolio relationships for companies that also act as investors or acquirers.

Investors

14 investors on the cap table

From Dealroom's funding and investor records, grouped by the round each investor first entered.

Seed4 investors entered at this stage

  • Heritage Group
  • At One Ventures
  • Playfair Capital
  • UK Research and Innovation

Series A6 investors entered at this stage

  • CircleRock Capital
  • KOMPAS VC
  • Norrsken VC
  • SigmaRoc
  • HG Ventures
  • SkyRiver Ventures

Series B and later1 investor entered at this stage

  • HSBC Innovation Banking

Other known investors3 additional known investors

  • Grow London
  • Innovate UK Business Connect
  • Royal Academy of Engineering Enterprise Hub
Team profiled 7 named & role-tagged
Founders Hidden — book a demo/100 quality score
Key operators 2 quality Hidden — book a demo/100
Potential founders Hidden — book a demo likely future founders
Startup mafia Hidden — book a demo alumni-founded startups
Talent movements Hidden — book a demo in · Hidden — book a demo out past 12 months

Source: Dealroom Talent Intelligence.

Global footprint

Workforce and web traffic by country
Workforce by country
2 countries with
team presence
🇬🇧 United Kingdom95%
🇺🇸 United States5%
2 countries shown

Market sentiment

Posts on X, past 7 days

An AI-synthesised read of the highest-engagement posts about Material Evolution on X, ranked by likes and reposts, corporate channels excluded.

Reading the room on X — pulling top posts and synthesizing themes…

Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour

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