AlterBiota raises USD$2.9 million for biographene concrete additive
Canada-based AlterBiota has received CAD$4 million (over USD$2,925,000) in seed funding to increase hiring and upgrade its commercial-scale facility to make a concrete additive based on its biographene material.
AlterBiota's CEO, Mark Masotti, is a chemical engineer who researched graphene’s ability to decarbonize concrete while on parental leave in 2019. Fascinated by its application, he explored the idea in his basement lab and applied for a provisional patent, then developed the idea into a company. Having conducted tests on its biographene and establishing a pilot plant, Masotti plans to go further in more than doubling his company's staff and building a scale-up plant.