Green Angel Ventures announces its follow-on investment in Mykor, a biotechnology company that transforms industrial and agricultural waste into scalable, low-carbon construction products. The Bristol-based company has secured £4 million in funding to accelerate the scale-up of its industrial biofabrication technologies.
The round was led by Clean Growth Fund, with participation from Green Angel Ventures, British Business Bank’s South West Investment Fund via The FSE Group, and support from Innovate UK’s investor partnership programme.
The built environment accounts for approximately 39% of global emissions, with around 11% from embodied carbon in materials and a further 28% from operational energy use. Insulation plays an important role in reducing operational carbon, yet conventional insulation materials are non-renewable, high-carbon and often combustible. As whole-life carbon assessments become standard, developers and contractors are under increasing pressure to reduce both embodied and operational emissions from buildings simultaneously.
Mykor has focused on solving the industrialisation challenge by manufacturing low-carbon construction materials cost-effectively at commercial scale while meeting the fire, acoustic and performance standards required by mainstream construction. Rather than extracting finite raw materials that can take centuries or millennia to form, Mykor’s biofabrication process grows construction products from agricultural and industrial waste streams within days.
The company’s proprietary technologies combine engineered mycelium strains, green chemistry additives and closed-loop automated manufacturing processes to produce an expanding portfolio of construction products such as prefabricated walls and cavity wall insulation. Rather than operating as a single-product manufacturer, Mykor works as a technology and process platform, enabling contractors and manufacturers to integrate low-carbon biomaterials directly into existing production lines and construction systems. This model allows the company to scale through existing industrial infrastructure rather than relying solely on centralised manufacturing.
Mykor’s first product to market, MykoSIP, a preassembled partition wall, achieves an estimated carbon saving of ~23kgCO₂e per m² compared to incumbent systems, equating to at least 50% carbon savings and higher when accounting for biogenic carbon storage, while maintaining comparable thermal and acoustic performance. The system is designed to reduce embodied and operational carbon without compromising on fire safety, cost, buildability or product performance. Additionally, the panels use 90% less water and 40% less electricity than their polystyrene counterparts. Mould-free and breathable, they also don’t emit toxins as they degrade like synthetic insulation products.
The company is already delivering live construction projects and has secured significant commercial traction, including two large offtake agreements worth £338 million with UK and European contractors. The funding will support the scale-up of production, establishing a replicable model for deploying manufacturing capacity across key markets.
Olivia Page, CEO and Co-founder of Mykor, said: “We’ve built Mykor around the idea that decarbonising construction cannot come at the expense of cost, performance or practicality. The challenge has never just been inventing a biomaterial — it’s been manufacturing these systems at industrial scale and integrating them into real construction supply chains. This funding allows us to scale that model further alongside major contractors and manufacturing partners globally. We’re very pleased to be working with investors who understand both the urgency of the problem and the scale of the opportunity ahead.”
Surakat Kudehinbu, Senior Investment Executive at Green Angel Ventures, said: “We have been consistently impressed by Olivia, Valentina, and the entire Mykor team’s progress and their dedication to transforming how we build. Their innovative approach to bio-based insulation is exactly the kind of disruptive technology needed to decarbonise the built environment. Green Angel Ventures is delighted to provide this follow-on funding to help Mykor scale its production and meet the growing demand from the construction industry.”