Bristol, September 2026. Adaptavate has secured a first close of a £4m funding package combining equity investment with major UK and European innovation funding, marking a significant milestone in the company's evolution from technology development to commercial deployment.
The funding will accelerate Adaptavate's commercial licensing strategy and international manufacturing partnerships, enabling the company to help existing wallboard manufacturers transition towards commercially competitive production of carbon-storing wallboard.
The £4m package comprises funding from the European Innovation Council (EIC) and Innovate UK's Investor Partnerships Programme, as well as equity investment from existing and new shareholders including Low Carbon Innovation Fund 3. A second close is now open until end of 2026 with an investment target of £1.3m.
Importantly, the investment reflects more than financial support. It represents growing confidence from investors, public innovation bodies and industry partners in Adaptavate's commercial pathway following years of technology development, product validation and pilot manufacturing.
Working alongside international manufacturing partners, Adaptavate is developing and commercialising technologies designed to support the transition towards lower-carbon construction materials. The company is focused on scalable industrial solutions capable of being deployed through existing manufacturing infrastructure and supply chains.
The announcement follows growing commercial momentum across the business, including pilot deployments of product with organisations such as Legal & General and Oxygen Asset Management, increasing commercial engagement with international manufacturing partners, growing visibility in Asian markets following the company's launch at The GEAR in Singapore and, since securing the first close investment, successful securing of a licence option agreement with an international production partner. Together, these milestones demonstrate continued and increasing market confidence in Adaptavate's vision to help transform one of the world's largest construction material industries.
Tom Robinson, CEO and founder of Adaptavate, said: "This is much more than a funding milestone. It reflects growing confidence in both our technology and our commercial strategy from investors, innovation bodies and industry partners. After years of technology development, validation and pilot manufacturing, we are now entering the next phase of our journey: working alongside manufacturers to deploy commercially competitive carbon-storing technologies at industrial scale. The wallboard industry doesn't simply need lower-carbon products; it needs commercially viable manufacturing solutions that existing producers can adopt and scale. This funding places us in a strong position to deliver exactly that."
Ian Thomas, Managing Director at Turquoise, fund manager of Low Carbon Innovation Fund 3 (LCIF3), said: "Decarbonisation of the built environment is a challenge but also a huge opportunity. The investment in Adaptavate matches LCIF3’s mandate to back growth stage companies with proprietary technology that can deliver significant impact in key industries that urgently need to reduce their carbon footprint. The Adaptavate team has demonstrated its ability to develop and adapt the company’s products to meet customer requirements and we look forward to working with them to bring these products to market at scale."
This announcement signifies a successful first close of the funding round. If participation in the second close of the funding round is of interest, please contact investors@adaptavate.com.
ABOUT ADAPTAVATE
Adaptavate is answering the urgent call to decarbonise construction, by developing the carbon-negative technologies and products needed, and the industrial ecosystem to deploy them fast, anywhere in the world.
To deliver this, the business is focusing on commercialising its patented, scalable Carbon Capture and Utilisation (CCU) and Carbon Capture and Storage (CCS) processes. These processes enable the production of low-carbon and carbon-negative construction products including Adaptavate’s flagship, Breathaboard. By licencing its technology, the business facilitates the manufacture of these market-alternative products by anyone, anywhere, resulting in significant carbon removal on a global scale. It is this ‘planet before profit’ model that keeps Adaptavate true to its purpose of building an ecologically regenerative and economically profitable future for all.
ABOUT LOW CARBON INNOVATION FUND 3
Set up by the University of East Anglia’s Innovation Funding Team, managed by Turquoise International, and utilising returns from funds originally financed by the European Regional Development Fund (ERDF), LCIF3 is the next chapter of a 16-year co-investment venture capital fund. Across its previous funds, the programme has invested more than £40 million and leveraged over £60 million of private co-investment into portfolio companies. LCIF3 continues this proven co-investment model, backing early to growth stage companies developing environmentally beneficial technologies, products and services.
Having backed more than 80 companies across its first two funds, the portfolio spans energy and infrastructure, transport and mobility, resource efficiency, agriculture and biodiversity, and sustainable health. The Fund has helped bring more than 100 new products and services to market, supported hundreds of founders, and enabled portfolio companies to deliver annual carbon savings of more than 10,000 tonnes globally.
LCIF3 provides investment capital, board support, and a dedicated Investment Readiness Programme for early-stage businesses operating in these sectors (contact lcif@uea.ac.uk). For more information, please visit www.LCIF.vc and www.Turquoise.eu.
ABOUT THE EUROPEAN INNOVATION COUNCIL
The European Innovation Council (EIC) was established by the European Commission in 2021 following a 3 year successful pilot phase. It has a mission to identify, develop and scale up breakthrough technologies and disruptive innovation. It has a budget of over €10 billion for the period 2021-2027.
The funding and support is organised into three main funding schemes covering all technology readiness levels: EIC Pathfinder for advanced research to develop the scientific basis to underpin breakthrough technologies; EIC Transition to validate technologies and develop business plans for specific applications; and the EIC Accelerator to support companies (SMEs, start-ups, spin-outs and in exceptional cases small mid-caps) to bring their innovations to market and scale up. The Accelerator provides a combination of grant support and direct equity investments in companies through a dedicated EIC Fund, which also provides a platform for co-investments with other investors.
For all schemes, the direct financial support is augmented with access to a range of Business Acceleration Services.
The strategy and implementation of the EIC is overseen by the EIC Board of twenty individuals from the innovation ecosystem (academia, business, investment, ecosystem builders). The EIC also employs dedicated Programme Managers with high level expertise in their fields, to set the challenges and proactively manage portfolios of projects towards technological breakthroughs.
ABOUT INNOVATE UK
Innovate UK, part of UK Research and Innovation, is the UK’s innovation agency. It works to create a better future by inspiring, involving and investing in businesses developing life-changing innovations. Its mission is to help companies to grow through their development and commercialisation of new products, processes and services, supported by an outstanding innovation ecosystem that is agile, inclusive and easy to navigate.