This study assessed 11 early-stage startups and five decarbonization pathways, including CCUS and clinker substitution, to reach net-zero cement by 2050. ADI modeled CO2 reduction costs, technology readiness, commercial maturity, adoption outlook, and growth potential across North America and Europe.
The client
Venture capital firm
The situation
Strategic ambiguity regarding which low-carbon cement technologies to invest in given long adoption cycles and lack of standards.
ADI’s contributions
Start-up scorecard development
Ranked 11 companies across metrics including constructability, IP defensibility, and feedstock availability.
Decarbonization lever evaluation
Benchmarked five major options (CCUS, alternative fuels, clinker substitutes) by abatement potential and adoption readiness.
Production cost benchmarking
Analyzed cement price trends and the economic impact of CO2 capture on final product margins.
Regional regulatory mapping
Evaluated the impact of the Inflation Reduction Act (IRA) and EU ETS on the commercial viability of CCUS-based cement.
Key outcomes
- Risk diversification across multiple technologies and a recommended focus on startups with secured feedstock access.
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