Temasek Trust-Backed C3H Invests in New Zealand Climate Tech
New Zealand-based Neocrete has raised fresh capital from a group of investors including a catalytic investment vehicle of Singapore's Temasek Trust. The climate technology company is looking to expand beyond its existing Southeast Asian operations.
Neocrete has raised $3.5 million in a funding round led by returning investor Wavemaker Ventures, with participation from Icehouse Ventures and Catalytic Capital for Climate and Health (C3H), according to a statement on Wednesday.
C3H is a catalytic investment vehicle of Singapore-based Temasek Trust and is a new investor in Neocrete. Global angel investors Doug Parker and Steve Melhuish also increased their existing investments.
The fresh capital will be used to support Neocrete's expansion into Europe and the United States, while the company plans to deepen its commercial presence in Southeast Asia.
From Brunei to Global Markets
Founded in 2018, Neocrete develops additives designed to reduce the amount of cement required in concrete. Its technology allows materials such as lower-quality fly ash and volcanic ash to replace between 30 and 50 percent of cement, according to the company.
The technology is already being deployed commercially in Brunei. Readymix Brunei, the country's largest ready-mix concrete supplier, began testing Neocrete's additives in 2025 and is now using locally available waste ash as a partial cement substitute.
Neocrete said some 3,700 cubic meters of concrete using its technology have been poured to date, reducing embodied carbon by 25 percent and generating savings of close to $20,000.
Its largest deployment is expected to come from the redevelopment of Muara Port, Brunei's main port. Around 65,000 cubic meters of Neocrete concrete are forecast to be used in the project, with the company projecting cost savings of approximately $300,000 and 5,200 tonnes of avoided CO₂ emissions.
Hard-to-Abate Sector
For C3H, the investment represents a bet on technology targeting one of the more difficult sectors to decarbonize.
«Decarbonising concrete is an urgent and difficult challenge in a hard-to-abate sector,» Ryan Tan, head of C3H, said. He pointed to Neocrete's combination of lower emissions, reduced costs and performance as factors that could help overcome barriers to commercial adoption.
C3H also plans to support the company through connections across the Temasek Trust ecosystem and the wider climate solutions sector as Neocrete pursues further commercial expansion.
