CRH Ventures will support the development of new technologies designed to “meet the increasingly complex needs of customers and evolving trends in construction,” said CRH.
The new body has a US$250m (£205m) pot to invest with construction and climate technology companies across the construction sector.
CRH Ventures will focus on new and emerging technologies and will invest in companies that are working to develop “the next generation of advanced sustainable building products and accelerating the industry’s path to decarbonisation.”
The launch of CRH Ventures comes five years after rival cement producer Cemex launched its own venture capital arm. Cemex Ventures also focuses on innovations in sustainable low-carbon construction technologies, such as Modulous, an offsite construction system enabled by a digital platform.
CRH Ventures is also interested in promoting digital technology and offsite construction methods.
.png)
The cement industry is currently on a mission to mitigate its enormous carbon footprint through the development of ‘low-carbon’ cement substitutes and carbon capture. Investment in emerging low-carbon building technologies offers another means of reducing the industry’s carbon profile.
CRH chief executive Albert Manifold, said: “The launch of CRH Ventures demonstrates our continued commitment to investing in new technologies that will shape the built environment of tomorrow.
“CRH Ventures will serve as a valuable partner to start-ups and entrepreneurs that will benefit from the technical capabilities, knowledge and expertise of a global industry leader, to pilot and scale new technologies and innovations that will enable safer, smarter, and more sustainable construction.”
CRH Ventures is actively pursuing investment opportunities, having already partnered with construction and climate technology start-ups in the areas of digitalisation and decarbonisation.
Got a story? Email news@theconstructionindex.co.uk
