How SOSA fast-tracked CSN’s investment in EnviCore

Driving tangible results in open innovation is about understanding specific needs, validating fit, and bringing the right players together with precision. This was the approach we took when bringing EnviCore, a leader in sustainable materials technology, and CSN, one of Brazil’s industrial giants, together in a journey that resulted in a significant $2M investment in sustainable cement solutions.

Scouting the perfect fit

CSN and SOSA partnered with a clear goal: building on CSN’s diverse lines of business and assets to find innovative technologies that would drive its decarbonization agenda in cement, steel, and mining.

SOSA’s team conducted a thorough analysis of CSN’s commercial and technical requirements, scouting the landscape for startups with the most relevant and pioneering technologies.

EnviCore stood out, with its revolutionary approach to creating sustainable supplementary cementitious materials (SCMs) using recycled and natural mineral feedstock, providing a scalable solution to reduce emissions in cement production.

EnviCore's innovative, low-capex, and energy-efficient technology processes a wide range of waste streams, including mine tailings, fly ash, and slag. This enables the plug-in replacement of up to 30% of cement with SCMs, reducing 85-90% of CO2 emissions per tonne of cement replaced.

From validation to strategic investment: accelerating EnviCore's growth

With a clear understanding of both CSN’s sustainability goals and EnviCore’s technological capabilities, SOSA was able to fast-track discussions. In a matter of weeks, EnviCore was connected with CSN’s decision-makers, and high-impact conversations commenced.

The result? Within six months, CSN’s investment committee confirmed a $2M commitment for a 10% stake in EnviCore, signaling a long-term commitment to sustainability and innovation in Brazil’s industrial sector.

The investment from CSN Inova Ventures is part of a successful funding round that raised C$4.2 million, led by notable investors including Heidelberg Materials, Techstars, Hillside Ventures, and angel investors Mark and Faye McGregor. With this backing, EnviCore is now positioned to accelerate its mission to reduce carbon emissions in cement production and make a global impact in sustainable construction.
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SOSA’s unique position

Through SOSA’s thorough scouting and validation process, the partnership between CSN and EnviCore has evolved into a strategic collaboration that delivers measurable results. This partnership showcases SOSA’s ability to leverage deep industry insights and agile execution to drive significant progress in sustainability, addressing critical challenges in industrial operations.

_{Felipe Steinbruch, Co-Founder at CSN Inova:}

_{"SOSA’s result-driven methodology made all the difference. They translated our challenges into search criteria, identified and validated EnviCore, and mediated the interaction from first contact to investment. Envicore’s innovative technology perfectly aligns with our sustainability goals, and we’re proud to support a company that’s paving the way for a greener future in cement production. This success case is a powerful example of what’s possible when the right players come together."}

_{Shahrukh Shamim, CEO and Co-Founder at EnviCore:}

_{"SOSA’s ability to strategically connect innovators with the right partners was instrumental in fast-tracking our collaboration with CSN. Their detailed understanding of EnviCore's technology and CSN's sustainability goals streamlined the process, allowing us to secure a transformative investment in just six months. This partnership marks a significant step in scaling our mission to decarbonize cement production globally."}

SOSA fosters partnerships, such as the one with CSN-EnviCore, to create carefully curated investment opportunities. These opportunities are strategically selected through extensive research and a global network that connects corporates, governments, and startups.

This proactive approach not only meets current industry needs but also anticipates future demands, facilitating sustainable innovation and growth.

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