Hycrete, a Carlstadt, New Jersey-based green cement maker, has nabbed $15 million in third round funding led by Mohr Davidow Ventures. Returning investors included NGEN Partners and RockPort Capital Partners, according to VentureWire.
The company will use the funding to expand its operations overseas, particularly in fast-growing Asian and Middle Eastern markets. Hycrete does not plan on licensing its technology and says it is ready to expend a large amount of capital building and operating its own plants, reports Earth2Tech.
As we’ve previously written about, Hycrete produces an admixture made of sand, aggregate, cement and water to waterproof concrete. Mixing it into concrete makes it behave like a hydrophobic solution, causing it to naturally repel water. Unlike conventional products, it does not use harmful chemicals like volatile organic compounds and can safely be recycled and re-used.
A number of other cement makers have benefited from investors’ growing interest in the green building sector of late, including CalStar Cement, Serious Materials and Calera.
This latest round takes the company’s funding total to $25 million. RockPort Capital Partners and NGEN Partners helped it close a second funding round in 2006.