Cocoon secured $5.4 million in pre-seed funding to advance its innovative technology that transforms steel production by-products into a sustainable cement alternative while addressing climate change.

Information on the Target

Cocoon is an innovative startup that addresses two major environmental issues: the excessive CO2 emissions generated by the steel and cement industries. These sectors collectively contribute around 14% of global CO2 emissions, with cement alone accounting for approximately 90% of a concrete mix's emissions. Cocoon's technology offers a sustainable alternative that not only mitigates these emissions but also transforms industrial waste into useful materials.

The company has developed a product known as "e-slag," which is a by-product of more energy-efficient steel production methods, specifically from electric arc furnaces (EAF). This processed material serves as a greener alternative to traditional cement, seamlessly integrating into existing steel production workflows to create low-carbon cement alternatives while ensuring the permanent storage of CO2.

Industry Overview in the Target’s Specific Country

The steel and cement industries are under increasing pressure to reduce their carbon footprints, particularly in developed regions like the U.S. and Europe. Traditionally, cement production has relied heavily on