Lingrove has announced $10 million from its Series B funding round, allowing the company to increase production of ekoa, its carbon-negative alternative to conventional construction materials.
Ekoa is made from plant fibers and can replace plastics, metals, laminates, and wood in interior applications, helping avoid carbon-intensive materials commonly used by the construction and renovation industry. The material reportedly performs in the same way as carbon fibers without needing to cut down trees or add toxic materials, and it has a higher strength-to-weight ratio than steel.
Plant fibers used to make ekoa may be grown and harvested every 90 days, as opposed to trees, which take decades to grow and are known for their carbon-storing properties.
Lingrove manufactures ekoa-based veneers and panels at scale and is currently developing a flooring product. Ekoa may be used for cabinetry, signage, and walls, and may also be used in interior finishes for vehicles.
“We are thrilled to have the support of a dream investor syndicate, which brings global expertise in bio-feedstocks, composites, and manufacturing, and shares our vision of a new industrial revolution powered by fast-growing plants,” said Joe Luttwak, CEO of Lingrove. “The journey won’t be easy, but together, we can improve indoor air quality and the health of the planet by making ekoa accessible to all.”
Funding was led by Lewis & Clark Agrifood and Diamond Edge Ventures, along with participation from Bunge Ventures and SOSV.
The built environment is responsible for about 40% of the world’s emissions, with 28% deriving from the production and use of concrete, steel, and aluminum. Further, the UN Environmental Programme estimates that demand for these raw resources will double by 2060. The organization claims that the industry may significantly reduce this impact by using alternative materials and decarbonizing conventional materials, like cement.
While Lingrove products offer alternatives for interiors, many additional alternatives for building infrastructure materials have been developed, especially for concrete. For example, researchers are developing concrete made from waste products and some companies have explored the option of reusing materials from deconstructed buildings.
Other plant-based materials are being developed to replace heavy-polluting materials, such as plastic. Ecovative recently opened access to its mushroom-based plastic alternative that may be used for a wide range of uses, from packaging to building insulation.
While the use of such materials has grown in recent years, the UN recommends increased investment in these alternatives backed by government policy to scale production and promote a shift to renewable, circular material economies.
