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Don't invest unless you're prepared to lose all the money you invest. Investments through Green Angel Ventures are high-risk, and you are unlikely to be protected if something goes wrong. Take 2 mins to learn more

Don't invest unless you're prepared to lose all the money you invest. Investments through Green Angel Ventures are high-risk, and you are unlikely to be protected if something goes wrong. Take 2 mins to learn more

News & Insights

GAS investment in Mykor enables carbon free insulation

08 May 2023

Green Angel Syndicate has led a pre-seed round into innovative carbon-negative insulation materials.  The round raised for Bristol- and Lisbon-based climate tech start-up Mykor has been led by Green Angel Syndicate and Sustainable Ventures.  The investment will enable its expansion plans for its carbon-negative insulation, MykoFoam.

The construction industry is responsible for 11% of worldwide carbon emissions. Mykor aims to help decarbonize this industry by developing carbon-negative materials. MykoFoam, the company’s proprietary thermal and acoustic insulation, feels and performs like foam but is completely renewable, unlike polystyrene. Utilising fungal mycelium adhesives, MykoFoam uses 90% less water, 40% less energy, and 60% less CO2 than traditional competitors. Crucially, it incorporates by-products from the paper industry that would normally be discarded to landfill or incinerated.

Mykor has already won several grants totalling £470,000 from Innovate UK and the EU, which funded the early stages of research and development. This new funding will help the company build its pilot manufacturing line to launch and certify MykoFoam in the UK and Portuguese markets. It will also allow Mykor to expand its team in Portugal and test concepts for upcoming projects.

 

“Completing our investment in Mykor represents a significant further step for GAS towards helping to decarbonise the construction industry.  This is innovation at its most direct and effective.  We are very pleased to invest in Valentina, Olivia, and the growing Mykor team,” said GAS CEO, Cam Ross.

 

“We’re delighted to have secured this pre-seed funding round, which will allow us to accelerate our expansion plans and bring MykoFoam to market,” said Valentina Dipietro, co-founder of Mykor. “Our mission is to decarbonize the construction industry and make sustainable housing a reality, and we’re excited to take this important step towards achieving that goal.”

 

Mykor’s successful funding round is another step towards achieving the company’s mission of creating a more sustainable future. With innovative products like MykoFoam, the company is leading the way towards a carbon-negative future for the construction industry.