Novacem: Carbon Negative Cement and the Green Cement Bond

CSI Forum 2010 Warsaw 14 September 2010

Stuart M Evans Chairman Dr Nikolaos Vlasopoulos Chief Scientist

Novacem Limited The Incubator, Bessemer Building, Imperial College, South Kensington, London, SW7 2AZ, UK

Tel +44(0)20 7594 3580 Fax +44(0)20 7594 1330 www.novacem.com

Novacem

Is a spin-out from Imperial College, London that has developed a new carbon negative cement Will offer a scalable, transformational alternative to current carbon intensive cement production Has made terrific technical progress over the last two years at the Imperial Incubator; now with a team of 22 Announced its Green Cement Bond in July 2010, with Lafarge as first Subscriber

Now seeking another major cement company to participate in the Green Cement Bond
Planning a major funding round next year to build and operate a Semi-Commercial Novacem Plant

14 September, 2010

The CSI audience knows more than most that cement needs radical innovation
Cements carbon problem Cement is a vital construction material and strategic commodity Cement volumes are around 2.9 billion tonnes, with significant demand growth set to persist to 2050. China is half the market. Cement creates 5% of CO2 emissions. Price could double as the industry bears full cost of emissions Limestone raw material is a fundamental barrier to emissions reductions Adaptation is not enough; the cement industry needs radical new technologies

14 September, 2010

Novacem delivers that radical innovation and momentum is building rapidly

Spin-out of civil engineering department of Imperial College. Investors include the Royal Society Enterprise Fund, London Technology Fund and Imperial Innovations Development supported by a UK government-funded collaborative R&D project with major industrial partners (Laing ORourke, Rio Tinto and WSP) Already operating an experimental batch pilot plant, currently being upgraded to continuous operation. Next stage is a Semi-Commercial Novacem plant in conjunction with cement industry partners Business model is process licensing to allow widespread adoption of technology

14 September, 2010

The World Economic Forum has named Novacem as one of its Technology Pioneers for 2011

Geneva, Switzerland, 1 September 2010 The World Economic Forum today announced its new class of Technology Pioneers, comprising 31 of the most innovative technology startups from around the world. These companies represent the cutting edge in innovation and are poised to have a critical impact on the future of business, industry and society.

- Technology Pioneers coverage in TIME, 20 Sept 2010

14 September, 2010

MIT Technology Review featured Novacem on list of the 10 most important emerging technologies

14 September, 2010

An experienced international team drive Novacems development

We are building the world-class team needed to achieve successful commercialisation International multi-disciplinary team of scientists and engineers Seasoned entrepreneurs Savvy industry non-execs High calibre investors Major industry partners

Members of the Novacem Batch Pilot Plant team

14 September, 2010

Novacem has three fundamental differences in embodied carbon compared to current cement production
Embodied carbon: Novacem vs. current cement production
Current cement production* 1. Carbonate feedstock: limestone is dug up and processed. Typically 400kg of CO2 released from limestone per tonne of cement High temp process (1,450oC) requires fossil fuel. Typically 400kg of CO2 created from fuel per tonne of cement Novacem 1. Non-carbonate feedstock (uses magnesium silicates) so no CO2 from the raw material. Limestone & its stored carbon left in the ground Lower temperature process (700oC) can utilise biomass fuel. 0-150kg CO2 created per tonne of cement, depending on fuel mix used Cement composition includes a carbonate created during production process by absorbing CO2

2.

2. vs.

3.

No absorption of CO2 in cement production

3.

Total typical emissions of +800kg CO2/tonne cement

* Global weighted average figures from International Energy Agency 2007

Total typical emissions of -50kg to +100kg CO2/tonne cement

14 September, 2010

Novacems cement is based on two technologies protected by patent filings

Novacem carbon negative cement is based on two technologies Novel low-carbon MgO production process based on magnesium silicate raw materials Novel cement composition based on MgO. Strength developed through the formation of magnesium silicate hydrates (M-S-H) rather than carbonation with atmospheric CO2 Novacem technology strongly protected by four patent filings, of which only one has been published. We have a pipeline of further patents progressing towards filing in the coming months

14 September, 2010

The three components of Novacem cement are produced through an integrated production process
Magnesium silicates

Novacem Mineral Carbonation Process

MgO

SiO2 based product

Magnesium carbonate

Novacem Cement

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A key innovation in the process is the scale up of a low carbon method of producing MgO
Heat (700oC)

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CO2

Magnesium silicate

Magnesium carbonate
CO2

Magnesium oxide

Use of magnesium silicates eliminates raw material related emissions

Low process temperature allows full use of fuels with low energy content or carbon intensity. Energy 60-90% of ordinary Portland cement; Chemistry for the mineral carbonation is well understood. Novacem is innovatively scaling up the technology; Novacem process efficiency outperforms best available data on mineral carbonation.

14 September, 2010

Novacem requires 60-90% of the energy of ordinary Portland cement

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Novacems energy demand

At the pre-treatment step Novacem has similar energy requirements to drive milling as ordinary Portland cement At the processing step three materials are produced which combine to form the cement MgO, which has the largest energy demand of the three materials, but is produced in a relatively low temperature calcination (700oC) and is typically less than 50% of the total cement composition SiO2-based product which is produced as part of the carbonation of the magnesium silicates Magnesium carbonates which are produced in a simple carbonation reaction, absorbing CO2 in the process Finally, no milling of the product is needed after calcination
Overall Novacem can achieve energy demand which is 60-90% that of ordinary Portland cement Precise energy level driven by choice of raw materials

14 September, 2010

Each component of Novacems cement composition plays a critical role

Novacem cement composition is a unique blend of the MgO, hydrated magnesium carbonates and the SiO2-based products of the production process The special magnesium carbonates are key in the development of mechanical properties. The carbonates are net sinks of CO2 (300-500kg CO2/tn carbonate) and so the cement achieves a carbon negative footprint during the production stage During hydration a magnesium silicate hydrate phase (M-S-H) is formed which is analogous to the calcium silicate hydrate phase (C-S-H) formed during Portland cement hydration.

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14 September, 2010

Performance characteristics of Novacem cement & concrete have significantly improved over last 12 months
Novacem Cement Paste
80 Compressive strength (MPa)

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Novacem Concrete
Cured at 35 degrees 50
Compressive strength (MPa)

Cured at 20 degrees

70 60 50 40 30 20 10 0 0 7 14 Curing time (days) 21 28

40
30 20 10

0 0 1 2 3 4 Curing time (days) 5 6 7

We continue to make significant further improvements as we reduce the water to cement ratio currently w/c 0.44 vs theoretical w/c 0.21.

14 September, 2010

Economically viable sources of Magnesium Silicates are abundantly located in proximity to major cement markets
Novacem team is working with senior mining industry advisors to understand and assess potential sources of suitable magnesium silicates. Headlines of high level scoping report are:

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Magnesium silicates are among the most abundant rock forming minerals in the earths crust
At least 9 target terrains exist where rocks with suitable magnesium contents exist. These are being evaluated further Initial assessment suggests that abundant multi-million to multi-billion tonne resources exist, and that favourable environments occur globally and in economic proximity to the existing major cement markets of the world

14 September, 2010

Novacem Green Cement Bond allows subscribers to participate in the development of our cement
Innovative technical and commercial approach to partner with major cement companies to mutual benefit to accelerate development and commercialisation of Novacems carbon negative cement Initial close with Lafarge as First Subscriber announced July 2010; remains open for final close with another cement company Nominal value 1Mn - combination of Non Refundable Engineering Fees and Convertible Loan Notes

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Subscribers also expected to participate in Novacems 2011 funding, at which time Loan Notes will also convert

Subscribers get immediate access to Novacems technology and cement for evaluation and testing

They also participate in the development and roll-out of Novacem carbon negative cement

14 September, 2010

A Semi Commercial Novacem Plant is the next step in this development

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Novacem plans a 25,000 tonne Semi Commercial Novacem Plant as a key step in reducing risks and accelerating roll-out for its licensees Novacem will use existing resources and proceeds from the Bond in design and development of the Semi Commercial Novacem Plant and other ancillary activities The 2011 Funding will be used for the Semi Commercial Novacem Plant, for which Novacem will control the design and construction Novacem will control development and operation of the Semi-Commercial Plant, which is expected to be co-located with an existing or mothballed cement works. Subscribers will participate in the project, and gain early insights into the technology Continuing Subscribers will contribute in kind to the Semi Commercial Novacem Plant. The marginal cash cost of such contributions will be treated as an advance payment against future license fees and royalties

Continuing Subscribers will get preferential access to the Semi Commercial Novacem Plant for testing, development, certification, pilot projects and early sales
14 September, 2010

Continuing Subscribers have significant first mover advantages at the Semi Commercial stage and beyond

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In addition to early access to Novacems technology and the output from the Semi Commercial Novacem Plant, benefits to Continuing Subscribers include The opportunity to build and operate the first and second, respectively, Novacem Commercial Volume Plants under licence from Novacem Preferential opportunity to licence additional plants through January 2020 Share in the corporate value created by Novacem by being an early investor and shareholder

Crucial early role and influence in the Novacem eco-system that will help solve the cement industrys carbon problem. Reinforces positioning as a responsible industry leader

14 September, 2010

Novacem will become a powerful low carbon brand

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CEMENTCO
General purpose cement

25kg

14 September, 2010

The potential is enormous and our ambitions match it

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Aiming for adoption of carbon-negative cement on a broad basis, and eventually to represent a significant % of cement production A challenging goal but completely feasible in a low carbon world

We will partner and collaborate with many different players on a non-exclusive basis; our business model is process licensing
Our investors will come from both the financial and industrial sectors. Returns to investors will come from an IPO or trade sale, although this is not likely to be to a cement company Target is profitable Novacem plants serving significant segments of the market within 5 years; significant further roll-out within 10 years

14 September, 2010

Summary CSI Forum 2010

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The cement industry is to be congratulated on all it has done so far to reduce carbon emissions. But its a mature industry and there is a limit on how far it can go. Adaptation is not enough and radical new approaches are required.

Novacem aims to become the first great cement company of the 21st Century by deploying our carbon negative cement in conjunction with other cement companies. We know we cant do it on our own.
Novacem will not be a niche product: our objective is full cost and performance parity with Portland cement Economically viable sources of Magnesium Silicates are abundantly located in proximity to major cement markets; energy at 60-90% of ordinary Portland cement; and production process can be truly carbon negative

The Novacem Green Cement Bond is a great way to start working together. We want our licensees to have profitable Novacem plants serving significant segments of the market within 5 years; significant further roll-out within 10 years
14 September, 2010

Thank you!
These slides were used as visual aids accompanying an oral presentation by Novacem staff. As such they are not a complete record of the presentation. 2010 Novacem, except where attributed to others. All rights reserved. Stuart M Evans Executive Chairman Mob +44 (0)7771 966297 Direct +44 (0)20 7594 3581 stuart.evans@novacem.com www.linkedin.com/in/stuartevans Novacem Limited The Incubator, Bessemer Building Imperial College, South Kensington London SW7 2AZ, UK Tel +44 (0)20 7594 3580 info@novacem.com www.novacem.com

14 September, 2010

Further background material

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Management Team Board of Directors

Corporate Profile
Press Release: Novacem named as Technology Pioneer by World Economic Forum Press Release: Lafarge as first subscriber to Green Cement Bond

14 September, 2010

Management Team

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Stuart Evans Executive Chairman (CEO) a technology entrepreneur since 1984 and was founding CEO at Plastic Logic and Cotag International. His early career was at IBM and McKinsey following an MBA at Harvard Business School. He is a Chartered Director of the Institute of Directors and was a Technology Pioneer at the World Economic Forum in Davos Dr Nikolaos Vlasopoulos Chief Scientist & Director received his PhD and MSc from Imperial College, following completion of his MEng at Democritus University of Thrace in Greece. He also received a Technology Venture Fellowship at Imperial College Business School in 2007.

Howard Simons VP of Engineering a Chartered Engineer with over ten years at M W Kellogg as a Technology Manager and Consultant. Also worked for Esso Engineering Europe Limited, Total Marc Rich & other major EPC contractors. He holds a Chemical Engineering degree from Sheffield University and is a Fellow of the Institute of Chemical Engineers.

Dr John Prendergast Marketing Manager worked in management consultancy at McKinsey before joining Novacem. He holds a PhD in Structural Engineering from Cambridge University, where he was a Gates Scholar, and a BEng in Civil Engineering from University College Dublin

CONFIDENTIAL OVERVIEW

14 September, 2010

Board of Directors
In addition to Stuart Evans and Dr Nikolaos Vlasopoulos, the Board of Novacem comprises:

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David Walkerdine Non-Executive Director was Strategic and Commercial Director at Redland Aggregates until the time of the acquisition by Lafarge. He continued at Lafarge as VP Strategy of the global Aggregates and Concrete Division, and then as Finance Director at Lafarge (formerly Blue Circle) Cement UK. Subsequently, he was Group Head of Corporate Development at RMC (later acquired by Cemex). Dr Alan Keasey Non-Executive Director was Chairman of Titan Methanol (a BP joint venture based in Trinidad) and a Commercial Director for BP in Trinidad. This followed 25 years in BP Chemicals in technical and business roles, latterly as a research manager in the UK. More recently, he has been Technical and Operations Director at Biofuels Corp and acts as a consultant in the petrochemicals and bio-fuels sectors. PhD from Sheffield Jon Page Investor Director Director of New Ventures at Imperial Innovations where he has been involved with over thirty start-ups over the last eight years. He previously worked at Pricewaterhouse Coopers and NatWest and holds an MBA from London Business School.

Dr Andrew Mackintosh Investor Director CEO of Royal Society Enterprise Fund. Previously spent twenty years at Oxford Instruments, where he became CEO of the entire group, and then CEO of a biotechnology instrumentation start-up. PhD from Cambridge.

CONFIDENTIAL OVERVIEW

14 September, 2010

Dsa

Corporate profile September 2010 Novacem, the carbon negative cement company, has developed a new cement manufactured from magnesium silicates and is a spin-out from Imperial College London. We offer the cement industry a scalable alternative to current carbon intensive production. Novacem has been selected as a Technology Pioneer for 2011 by the World Economic Forum, and also features on MIT Technology Reviews list of the worlds ten most important emerging technologies for 2010. Cements carbon problem Cement is a vital strategic commodity with current annual production of 2.9 billion tonnes set to increase to 5 billion tonnes by 2030. However, it is responsible for approximately 5% of man-made CO2; production of one tonne of ordinary Portland cement typically emits 800 kg of CO2. Emissions are driven by processing of limestone (carbonate) raw materials, and use of fossil fuel energy. In the shift to a low carbon world the cement industry has to reduce emissions or else pay a high price. The worlds leading cement companies already form the Cement Sustainability Initiative which recently produced an emissions roadmap to 2050. This report, written in conjunction with the International Energy Agency, confirms that existing technology has limited potential for further emissions reductions and highlights Novacem as a new technology to watch. Our carbon negative cement Novacem cement is based on magnesium oxide manufactured from magnesium silicates, of which more than 10,000 billion tonnes exist worldwide. No carbon emissions are released from our raw material; we leave limestone and its stored carbon in the ground. Additionally, low carbon fuel such as biomass can be used to drive production, and manufacture includes the creation of magnesium carbonates which absorb CO2. Overall, more CO2 is absorbed than emitted during cement production. For every tonne of Portland cement substituted by Novacem cement, CO2 emissions will be reduced by up to 850kg. We already operate a batch pilot plant and the next stage is a Semi Commercial Novacem Plant. The first commercial scale plants will follow from around 2015. We aim to offer cost and performance parity with ordinary Portland cement. Novacem will take a global approach with focus on major established markets and large developing ones; including China and India, the worlds biggest cement producers. Our business model will be licensing the manufacture and use of our carbon negative cement; we will partner with leading players on a non-exclusive basis. Our partners Novacem recently announced the first closing of its Green Cement Bond, along with the participation of Lafarge, the world leader in building materials, as the first subscriber. The Bond is an innovative approach for engagement with cement manufacturers to accelerate commercialisation of our carbon negative cement. The Bond is for a nominal 1 million in a combination of Non Refundable Engineering fees and Convertible Loan Notes.

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Novacem Limited The Incubator, Bessemer Building, Imperial College, South Kensington, London, SW7 2AZ, UK Tel +44(0)20 7594 3580 Fax +44(0)20 7594 1330 www.novacem.com

We will employ the proceeds of the Bond to accelerate our Semi Commercial Novacem Plant development programme in conjunction with Bond subscribers. Subscribers will also have the opportunity to build and operate the first Commercial Volume Novacem Plants under license. Additionally, we previously led a 1.5Mn Technology Strategy Board R&D project with partners including Rio Tinto (a global mining company) and Laing ORourke (the largest private UK construction firm), alongside Imperial College. We are also developing relationships with a range of other relevant companies. Our team We have assembled a world-class team of entrepreneurs, scientists, engineers and advisers to drive our development. Our Board and Management include: Stuart Evans Executive Chairman & co-founder. A technology entrepreneur since 1984, he was founding CEO at Plastic Logic and Cotag International. Early career at IBM & McKinsey, following Harvard MBA. He is a Chartered Director of the Institute of Directors and has twice been a Technology Pioneer at the World Economic Forum. Dr Nikolaos Vlasopoulos Chief Scientist, co-founder & Director. PhD and MSc from Imperial College, following MEng at Democritus University of Thrace in Greece. Received Technology Venture Fellowship at Imperial College Business School in 2007. David Walkerdine Non-Executive Director. Previously held senior commercial and strategy roles in building materials firms including Lafarge, Cemex, RMC and Redland. He is a Chartered Builder and graduate accountant. Dr Alan Keasey Non-Executive Director. Previously Chairman of Titan Methanol (a BP joint venture) and held senior research and operational roles in BP Chemicals and Biofuels Corporation. PhD from Sheffield University. Jon Page Non-Executive Director. Director of New Ventures at Imperial Innovations where he has been involved with over thirty start-ups. Previously worked at PricewaterhouseCoopers and NatWest. MBA from London Business School. Dr Andrew Mackintosh Non-Executive Director. CEO of the Royal Society Enterprise Fund. 20 years at Oxford Instruments, where he became CEO of the entire group. He was then CEO of a biotechnology instrumentation start-up. PhD from Cambridge University. Howard Simons Vice President Engineering. A Chartered Engineer, with over ten years at M W Kellogg as a Technology Manager and Consultant. He has also worked for Esso Engineering Europe Limited, Total Marc Rich and with several major EPC contractors. Dr John Prendergast Marketing Manager. A Gates Scholar at the University of Cambridge with a PhD in Structural Engineering. Previously a management consultant at McKinsey & Co. Our investors and investment status Novacem raised a 1 million+ Seed Round in 2009 from Imperial Innovations, the London Technology Fund and the Royal Society Enterprise Fund. This was the first investment by the Royal Society Enterprise Fund. The company is now planning a Series A round to fund the Semi Commercial Novacem Plant. Existing investors and subscribers to the Novacem Green Cement Bond are expected to participate, and we plan to broaden our investor group with international financial and corporate investors/collaborators. We have a clear idea of the value added we want from investors beyond just money. *** For further information, please contact Stuart Evans at stuart.evans@novacem.com or John Prendergast at john.prendergast@novacem.com.

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NEWS INFO FOR IMMEDIATE RELEASE 1 September 2010

London, UK 1 September, 2010 Novacem, the carbon negative cement company, today announced that it has been selected by the World Economic Forum as a Technology Pioneer for 2011. The Forum has extended the honour to thirty one visionary technology start-ups from around the world who are poised to have a critical impact on the future of business, industry and society. Stuart Evans, Executive Chairman of Novacem, will attend the World Economic Forum Annual Meeting in Davos in January 2011. Novacems carbon negative cement is based on magnesium oxide and offers the cement industry a scalable alternative to current carbon intensive production. No carbon emissions are released from the magnesium silicate raw material used, and overall more CO2 is absorbed than emitted during production. Novacem is currently working with a world-class eco-system of partners to accelerate deployment of its technology to market. Stuart Evans commented The race is on climate change is relentlessly warming our planet and it will be catastrophic if we dont do something about it. The cement industry is doing a great job in facing up to its responsibilities. But its a mature industry and there is a limit to how far they can improve existing Portland cement technology. Its clear that revolution is needed, not just adaptation. So at Novacem, we want to deploy our carbon negative cement on a global scale as soon as possible. Thats how well help improve the state of the world! You can watch an interview with Stuart Evans about Novacems role as a Technology Pioneer at http://novacem.com/news/videos/ The World Economic Forum is proud to recognize an outstanding group of innovative companies as Technology Pioneers for 2011, said Andr Schneider, Managing Director and Chief Operating Officer of the World Economic Forum. Their technologies and business models will have a durable and valuable effect in several industries and society as a whole. We look forward to their unique contributions to the mission of the Forum: improving the state of the world. We were truly impressed with the quality, quantity and diversity of the applicants this year, thereby making the selection process one of the most difficult to date. I would like to congratulate the Technology Pioneers Class of 2011. These companies can be very proud of receiving such a respected and coveted distinction, stated Kevin E. Comolli, Managing General Partner, Accel Partners.

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Novacem Limited The Incubator, Bessemer Building, Imperial College, South Kensington, London, SW7 2AZ, UK Tel +44(0)20 7594 3580 Fax +44(0)20 7594 1330 www.novacem.com

To be selected as a Technology Pioneer, a company must be involved in the development of a major technology and/or innovation and have the potential for long-term impact on business and society. In addition, it must demonstrate visionary leadership and show all the signs of being a long-standing and sustainable market leader and its technology must be proven. Previous Technology Pioneers include internet luminaries such as Google (2001) and Twitter (2010). Stuart Evans is a rare second time Technology Pioneer his former company Plastic Logic was selected in 2004.

Note to editors Novacem Limited www.novacem.com

Novacem, the carbon negative cement company, is a spin-out from Imperial College London and has developed a new generation of carbon negative cement that will offer cost and performance parity with Portland cement. The cement is based on magnesium oxide produced from magnesium silicates, and is a scalable, transformational alternative to current carbon intensive cement production. The company recently announced the first closing of its Green Cement Bond with Lafarge, the world leader in building materials, as the first subscriber. Novacem is currently working on a development programme to construct and operate a Semi Commercial Novacem Plant (up to 25,000 tonnes per year) to be co-located with an existing cement plant. It will work closely with Bond subscribers in the development of the plant and the first Commercial Volume Plants which will follow. Thereafter the technology will be rolled out to companies in and around the cement industry to ensure its full potential to reduce carbon emissions is realised. Novacems Board and management team comprises of a blend of experienced entrepreneurs, innovative scientists, seasoned industry executives and investors. The company raised a 1 million+ Seed Round in 2009 from Imperial Innovations, the Royal Society Enterprise Fund and the London Technology Fund. The company is planning a Series A Funding to support the construction of the Semi Commercial Novacem plant and other development activities. For more information contact: Dr John Prendergast, Marketing Manager +44 (0)20 7594 9531 +44 (0)7800 644620 john.prendergast@novacem.com World Economic Forum Technology Pioneers Programme For more information about the Technology Pioneers Programme: http://www.weforum.org/techpioneers Download the Technology Pioneer report at http://sn.im/tp2011 Watch interviews with the Technology Pioneers at http://sn.im/techpioneers2011 Follow the Technology Pioneers on Twitter at http://twitter.com/davos/techpioneers2011 Follow the Forum on Twitter at http://twitter.com/davos Read the Forum Blog at http://www.forumblog.org Press Releases at http://www.weforum.org/pressreleases For updates about the activities of the World Economic Forum, subscribe to RSS feed - ENDS-

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NEWS INFO FOR IMMEDIATE RELEASE 2 July 2010

London, UK 2 JULY, 2010 Novacem, the carbon negative cement company, today announced the first closing of its Green Cement Bond, together with the participation of Lafarge, the world leader in building materials, as the first subscriber. The Novacem Green Cement Bond is an innovative commercial and financial approach for engagement with major cement manufacturers to accelerate the development and commercialisation of Novacems negative carbon cement. The Bond is for a nominal 1 million (through a combination of Non Refundable Engineering fees and Convertible Loan Notes). It is expected that subscribers to the Bond will also participate in the Series A Funding round currently being planned by Novacem. Novacems carbon negative cement is based on magnesium oxide and offers the cement industry a scalable alternative to current carbon intensive production. No carbon emissions are released from the magnesium silicate raw material used, and overall more CO2 is absorbed than emitted during production. Novacem features on MIT Technology Reviews list of the worlds ten most important emerging technologies for 2010. Novacem will employ the proceeds from both the Bond and the Series A Funding to accelerate its development programme to construct and operate a Semi Commercial Novacem Plant (up to 25,000 tonnes per year) to be co-located with an existing cement plant. Bond subscribers will work with Novacem in the development of the Plant and share valuable experience in the production of Novacems carbon negative cement. They will also have early access to Plant output for testing, development, certification, pilot projects and early sales. Additionally, they will have the opportunity to build and operate the first Commercial Volume Novacem Plants under license from Novacem. Thereafter, Novacem expects to roll out other Commercial Volume Novacem Plants to the subscribers as well as to other cement companies and qualified parties. Stuart Evans, Chairman of Novacem, commented We have always known that we would need to work closely with the cement industry to urgently tackle, together, the very serious carbon emissions problems that the industry faces. We couldnt have hoped for a better first cement industry partner than Lafarge. Enquiries about the Second Closing of the Bond should be directed to Novacem Chairman Stuart Evans (stuart.evans@novacem.com) or Dr John Prendergast per details below.

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Novacem Limited The Incubator, Bessemer Building, Imperial College, South Kensington, London, SW7 2AZ, UK Tel +44(0)20 7594 3580 Fax +44(0)20 7594 1330 www.novacem.com

MEDIA ENQUIRIES Novacem Dr John Prendergast, Marketing Manager +44 (0)20 7594 9531 +44 (0)7800 644620 john.prendergast@novacem.com Lafarge press office + 33(0) 1 44 34 19 47 lafarge.press@lafarge.com

Novacem Limited

www.novacem.com

Novacem, the carbon negative cement company, is a spin-out from Imperial College London and has developed a new generation of carbon negative cement that will offer cost and performance parity with Portland cement. The cement is based on magnesium oxide produced from magnesium silicates, and is a scalable, transformational alternative to current carbon intensive cement production. Novacem features on MIT Technology Reviews list of the worlds ten most important emerging technologies for 2010. Novacems Board and management team comprises a blend of experienced entrepreneurs, innovative scientists, seasoned industry executives and investors. The company raised a 1 million+ Seed Round in 2009 from Imperial Innovations, the Royal Society Enterprise Fund and the London Technology Fund. The company is planning a Series A Funding to support the construction of the Semi Commercial Novacem plant and other development activities.

Lafarge

www.lafarge.com

Lafarge is the world leader in building materials, with top-ranking positions in all of its businesses: Cement, Aggregates & Concrete and Gypsum. With 78,000 employees in 78 countries, Lafarge posted sales of 15.9 billion in 2009. In 2010, and for the sixth year in a row, Lafarge was listed in the Global 100 Most Sustainable Corporations in the World. With the worlds leading building materials research facility, Lafarge places innovation at the heart of its priorities, working for sustainable construction and architectural creativity.

- ENDS-

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