Eduardo Gomez, CRH Ventures, explains why partnering with startups is key to the decarbonisation revolution.
The importance of innovation and emerging technologies to drive progress in reducing carbon emissions, optimising the use of resources, and delivering process efficiencies has never been greater. While the adoption rate and impact of innovation is increasing, there remains huge scope for more transformative strategies as the industry responds to the changing needs of customers and society.
At CRH, constant innovation is key to improving processes and developing new technologies that play a crucial role in the journey to net-zero. The company's commitment to innovation, alongside other corporations and governments, is critical in order to accelerate and provide resources for large-scale change. There is also a growing recognition of the importance of working with industry startups, whose challenger mindset helps rethink, reimagine, and reinvent systems, processes, and technologies.
Scaling viable solutions
The industry is rich in expertise and knowledge, with a proven track record showing that sustainability and profitability can go hand in hand. Embedding innovation is vital in converting challenges into value-creation opportunities. Ideas and innovation are emerging from various sources, including businesses, academia, and startups. However, the real challenge lies in converting these ideas and small-scale technologies into large-scale, economically viable solutions. Combining the entrepreneurial spirit and determination shared by startups and those in the cement industry already addressing decarbonisation, with the scale, weight, and backing from the established industry players, is one of the most impactful ways to advance the development of viable sustainable solutions.
Balancing opportunities and challenges
Innovation in areas such as AI-driven material optimisation, alternative cementitious materials, and novel production methods is now supporting the cement decarbonisation journey. Capable of demonstrating real impact, startups in this space are attracting growing interest from institutional and strategic investors as their solutions offer the potential for long-term cost savings, enhanced performance, and a competitive edge in a rapidly evolving market.
However, the construction industry’s complex systems of standards and regulations can make for a challenging environment to deliver transformative ideas. Startups are known for their ingenuity and courage, often pushing the boundaries of what is possible. They need assistance in navigating the complex industry landscape and in scaling solutions which require significant capital investment, regulatory approval, and widespread adoption – substantial hurdles for small ventures.
At CRH, there is a strong belief in the importance of playing a key role in accelerating the most promising innovations and technologies, whether through partnerships or funding. Accelerators and incubators focused on climate-tech also play a vital role in bridging the gap between early-stage innovation and large-scale implementation.
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