Carbon negative cement company Novacem has been selected by the World Economic Forum as a Technology Pioneer for 2011. In all, the Forum has named 31 technology start-ups from around the world who are expected to have a critical impact on the future of business, industry and society.
Novacem's carbon negative cement is based on magnesium oxide and offers the cement industry a scalable alternative to current carbon intensive production. No carbon emissions are released from the magnesium silicate raw material used and, overall, more CO2 is absorbed than emitted during production. Novacem is currently working with serveral partners to accelerate deployment of its technology to market.
"The race is on — climate change is relentlessly warming our planet and it will be catastrophic if we don't do something about it," said Novacem Executive Chairman Stuart Evans, who will attend the World Economic Forum Annual Meeting in Davos in January 2011. "The cement industry is doing a great job in facing up to its responsibilities — but it's a mature industry and there is a limit to how far they can improve existing Portland cement technology. It's clear that revolution is needed, not just adaptation. So at Novacem, we want to deploy our carbon negative cement on a global scale as soon as possible."
And Andre Schneider, Managing Director and Chief Operating Officer of the World Economic Forum, said: "The World Economic Forum is proud to recognise an outstanding group of innovative companies as Technology Pioneers for 2011. Their technologies and business models will have a durable and valuable effect in several industries and society as a whole. We look forward to their unique contributions to the mission of the Forum: improving the state of the world."
