Founded in 2018, Neocrete develops additives that enable abundant, low-carbon, low-performance materials such as poor-quality fly ash and volcanic ash to replace 30-50% of the cement in concrete. The additive lowers the embodied carbon and cost of concrete while maintaining strength, durability and workability, addressing key commercial and technical constraints to scaling lower-carbon concrete.

The investment will support Neocrete's next phase of growth, including expansion into European and US markets, and continued commercial deployment across Southeast Asia, where its technology is being used commercially in Brunei. This will give concrete makers the opportunity to reduce carbon as well as cost, without significant capital expenditure, while maintaining performance.

With the buildings and construction sector accounting for 37% of global emissions,¹ and cement manufacturing alone responsible for around 8%,² decarbonising this industry is critical to achieving climate targets as demand for construction materials continues to rise, a challenge Neocrete's additives are designed to solve.

Brunei's largest ready-mix concrete supplier, Readymix Brunei, began piloting Neocrete's additives in 2025 to make a locally available waste ash, previously dumped due to its poor performance, into an effective cement substitute. Boosted by Neocrete, Readymix Brunei is now using this ash to replace 30% of the cement in commercial projects, pouring 3,700 m³ to date, cutting embodied carbon by 25% and avoiding around 215 tonnes of CO2, while saving nearly US$20,000.

The redevelopment of Muara Port, Brunei's primary port, will mark Neocrete's largest deployment to date, with around 65,000 m³ of Neocrete concrete forecast to be poured, projected savings of approximately US$300,000, and 5,200 tonnes of CO₂ avoided.

Neocrete's performance in Brunei is independently verified by ABCi, the country's Building and Construction Industry Control Authority, across concrete grades G25 to G50.

Neocrete's ability to scale fast, while reducing carbon and cost, has attracted global investors.

C3H's entry into this round reflects its focus on scaling solutions in hard-to-abate sectors, where catalytic capital can help bridge early-stage risks and accelerate broader market adoption. Beyond capital, C3H will support Neocrete through connections to partners across the Temasek Trust Collective and the broader climate solutions sector to support commercial deployment and expansion.

“Decarbonising concrete is an urgent and difficult challenge in a hard-to-abate sector. Neocrete stands out because of its reduced carbon emission footprint, lower cost, and is a higher performing alternative to conventional cement, which helps to address a key barrier to commercial deployment,” said Ryan Tan, Head of C3H. “We see strong potential for Neocrete to enable meaningful emissions reductions in the built environment.”

The continued participation from returning investors Wavemaker Ventures and Icehouse Ventures also reflects confidence in Neocrete's technology and commercial opportunity. Global angel investors Doug Parker and Steve Melhuish have also doubled down on their early investments.

“Since Neocrete's seed round two years ago, the company has continued to execute against its commercial and technical milestones. Its technology has been proven to deliver up to 30% lower cement usage, translating into meaningful cost savings and margin improvement without compromising strength. These aren't just results from lab experiments. Neocrete's successful commercial deployment with Readymix Brunei is proof of this. This has enabled Neocrete to build a strong pipeline of customers from across Europe, Asia and the United States,” said Paul Santos, Co-founder and Managing Partner of Wavemaker Partners.

“We backed Neocrete early because we believed they had developed a solution that could transform one of the world's largest industries without requiring producers to fundamentally change the way they operate. Since our initial investment, the team has continued to execute against that vision, reinforcing our conviction and our belief in Neocrete's potential to become a globally transformative company,” said Bex Gidall, Principal, Icehouse Ventures.

Matt Kennedy-Good, Co-founder and President of Neocrete, said: “Neocrete's mission is to make low-carbon concrete the default choice, by making it perform better and cost less.” He added: “We are grateful for the support of our investors and industry partners. Concrete change does not happen with technology alone, it requires people, and we are very lucky to have an amazing team behind Neocrete.”

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