Concretene lands £4.5m Series A for carbon-negative graphene
What's the deal? ConcreteneDealroom has a profile for this one. Try Dealroom →, a University of Manchester spin-out, has raised £4.5 million in the first close of its Series A round. PXN VenturesDealroom has a profile for this one. Try Dealroom → led via the Northern Powerhouse Investment Fund II, with existing backers LocalGlobeDealroom has a profile for this one. Try Dealroom → and Molten Ventures joining.
What's the endgame? Concretene is building a circular manufacturing programme that uses local wastewater biogas from United UtilitiesDealroom has a profile for this one. Try Dealroom → as a feedstock for carbon-negative graphene at multiple-tonne scale in Manchester. That "Manchester graphene" is then used to cut the carbon footprint of concrete for the water sector and wider construction.
The admixture technology has removed 10-20% of cement from common industry mixes in lab and scaled trials, with no impact on strength, durability, or placement, the company says. It is designed to be cost-neutral at scale, so buyers avoid a green premium.
Where's the money going? The funding will support industrial-scale admixture manufacturing, scaled concrete trials with industrial partners, and development of the Manchester graphene programme. PXN Ventures contributed £2 million through NPIF II; LocalGlobe first backed Concretene in 2022, followed by Molten and engineering consultancy ArupDealroom has a profile for this one. Try Dealroom →.
Why now? The first close was announced during a visit by business secretary Jonathan Reynolds to Concretene's testing facility in Manchester's Sister innovation district. The visit coincided with government measures to ease costs and paperwork for small businesses ahead of the Budget.
"Small businesses and innovation go hand in hand in this country, with so many great companies like Concretene developing new ideas," Reynolds said.
The signal: At roughly $6 million, the round sits in the 52nd percentile for deals of its kind — a mid-sized Series A rather than a standout. It fits a run of recent Manchester spin-out financings, as regional backers such as Northern GritstoneDealroom has a profile for this one. Try Dealroom → and the British Business Bank channel capital into university-born companies.
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