23 Jan 2009 10:49
23 January 2009
Imperial Innovations Group plc
("Imperial Innovations" or the "Company")
Imperial Innovations portfolio company Novacem wins Rushlight Award
Imperial Innovations (AIM:IVO) a leading technology commercialisation and investment company, announces that portfolio company Novacem, was last night revealed at a Gala dinner, as the winner of the Energy Environmental Award and, most significantly, the overall Rushlight Award winner for their substantial contribution to addressing environmental issues.
Novacem is developing the new generation of green carbon negative cement that will help combat global warming by locking atmospheric carbon dioxide (CO2) into construction materials. Cement production produces more than 5% of mankind's carbon dioxide emissions. These emissions come from two sources, decomposition of limestone, a chemical change which emits CO2 and the burning of fossil fuels to heat cement kilns. However, Novacem is developing a revolutionary cement binder which uses a different chemistry and a new lower temperature manufacturing process, reducing carbon dioxide emissions considerably. Furthermore, during use as a binder or concrete building product, Novacem's cement hardens by absorbing significant amounts of CO2 and therefore locks atmospheric CO2 into construction materials. This means that for every tonne of Portland cement replaced by Novacem cement, around 1 tonne of CO2 is captured and stored indefinitely. Novacem's cement has the potential to transform the cement industry from a significant emitter to a significant absorber of CO2.
Novacem's technology is based on the research and inventions of Dr Nikolaos Vlasopoulos (Chief Scientist) and Dr Chris Cheeseman (Senior Scientific Advisor) from the Department of Civil and Environmental Engineering at Imperial College London. Novacem's Chairman is a highly experienced entrepreneur, Stuart Evans, who has more than 25 years' experience developing VC-backed technology start-ups as well as public firms on the LSE and NASDAQ. Stuart was formerly CEO and co-founder of Plastic Logic, a plastic electronics' company that has raised over US$200m to develop and exploit its technology. Novacem also leads a £1.5Mn Technology Strategy Board project to develop its technology. Its industrial partners in the TSB project are Rio Tinto, Laing O'Rourke and WSP Group, alongside Imperial College as an academic partner.
Susan Searle, CEO of Imperial Innovations said: "We are absolutely delighted that Novacem has won these awards. It is a further recognition that Novacem's technology has the potential to make a huge impact to reduce CO2."
Stuart Evans, Chairman of Novacem, said: "We have great ambitions for Novacem and aim to change the world. But it's a big job and we know we can't do it on our own. We have been fortunate that we have had Imperial Innovations' support and experience from the beginning. We are growing a global eco-system of partners and investors that will add real value to achieving our goals. Winning this prestigious award will help spread the word about the difference Novacem can make."
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For further information please contact:
Imperial Innovations
Susan Searle, Chief Executive
Lucy Ahfong, Marketing Communications Executive
Tel. +44 (0)20 7594 6644
M:Communications
Ben Simons / Harriet Totty
Tel. +44 (0)20 7153 1530
JPMorgan Cazenove (NOMAD to Imperial Innovations)
Steve Baldwin
Tel. +44(0)20 7588 2828
About Imperial Innovations
Imperial Innovations is one of the UK's leading technology commercialisation and investment companies. Founded in 1986, its ordinary shares were admitted to trading on the AIM Market of London Stock Exchange plc in July 2006, raising £26 million. It raised a further £30 million in November 2007 by means of a placing of new ordinary shares with investors.
Imperial Innovations' integrated commercialisation approach encompasses the identification of ideas, the protection of intellectual property, the development and licensing of technology and the formation, incubation and funding through investment of technology businesses. Based at Imperial College London, Imperial Innovations commercialises a wide range of technologies primarily within the areas of healthcare, energy and the environment.
www.imperialinnovations.co.uk
Rushlight Awards
The Rushlight Awards are a celebration and a promotion of new technology, innovation and best practice across the whole clean technology spectrum for organisations throughout UK and Ireland. Designed to highlight their achievements, they are a means of disseminating their successes to support further development. The awards were presented at a Gala Dinner on 22nd January 2009 at the New Connaught Rooms in London. Over 300 guests representing the leading clean technology developers, academics, supporting trade associations, government departments and media partners enjoyed a fun evening and learnt about the enormous strides being made by UK and Irish clean technology developers. The Rushlight Awards are one of a number of events run by Eventure Media Ltd focused entirely on the clean technology sector, with the Rushlight Survey and ensuing report, Rushlight Briefings and the Rushlight Conference to follow later in the year.
www.rushlightawards.co.uk