- BASF participates in $27 million financing round
- Solidia’s technology platform produces cementitious materials for construction in a process that consumes CO2
Ludwigshafen , Germany and Piscataway, New Jersey – February 1, 2012 –
BASF Venture Capital GmbH is investing $5 million in Solidia Technologies, Inc. as part of a $27 million financing round. The current round of financing also included Kleiner Perkins Caufield and Byers, BP Ventures and Bright Capital, the venture arm of Ru-Com Corporation.

Solidia Technologies enables sustainable production of a new generation of building and construction materials. Concrete and building materials made with this novel technology have excellent physical properties, lower life-cycle cost and smaller environmental footprint than concrete. The technology uses CO2 as a reactant, consuming and sequestering this greenhouse gas during production.

“The materials produced by this process will have disruptive potential in the building and construction industry. They have better mechanical properties than traditional concrete and show no shrinkage, high compressive strength and low permeability,” said Dr. Pulakesh Mukherjee, Principal at BASF Venture Capital. The sustainable production process used by Solidia Technologies enables production of fully cured concrete pieces within just a few hours.

“The global building and construction market offers a significant opportunity for this innovative technology. Our process has been developed in the pilot scale to date and BASF can add a lot of value with its knowledge of chemistry and process engineering. We are optimistic that joining forces will enable us to target and rapidly deploy scalable applications,” said Thomas Schuler , Chief Executive Officer of Solidia Technologies.

Products manufactured with Solidia’s process are stronger and more durable than traditional building materials. As a result, cement manufacturers can produce low-environmental impact products with existing equipment for the concrete industry. This new class of materials can then be used both indoor and outdoor for a variety of products, ranging from pavers to structural precast concrete.

About Solidia Technologies
Solidia Technologies, Inc. is a rapidly growing company founded in 2008 to capitalize on proprietary and patented advances in materials innovation. The company has developed a proprietary process for creating both a binder that requires significantly less energy to produce than Portland Cement and a concrete product that uses CO2 as a reactant to provide strength rather than water. This innovation serves as the basis for a wide range of possible applications in the building and construction industries. The company is headquartered in Piscataway ( New Jersey ) and has 28 employees.

More information is available at www.solidiatech.com

About BASF Venture Capital
BASF Venture Capital GmbH was established in 2001 as a wholly owned subsidiary of BASF Future Business GmbH, Ludwigshafen, Germany, with the aim of exploring new growth potentials based on investment in startup companies and funds.

More information about BASF Venture Capital GmbH is available at www.basf-vc.de .