Develop the asset
Move LC3 opportunities through site selection, clay and limestone assessment, technical scoping, permitting, EPC procurement, partner alignment, and commissioning readiness.
Low carbon cement investment
Building the missing platform for bankable low carbon cement.
Bedrock Industrial Management LLC is a specialist investment manager that structures and finances low carbon cement projects, beginning with Limestone Calcined Clay Cement projects that can reduce emissions while using much of the industry infrastructure that already exists.
The Problem
LC3 has crossed the technical proof threshold, but not the market adoption threshold.
Of roughly 1,500 integrated Portland cement plants outside China, only about 20 commercial LC3 plants are operating or nearing commissioning globally. Together, they represent an estimated 0.4% of the approximately 4 billion ton annual cement market. LC3 is no longer a laboratory concept, but it has not yet become a routine investment option for cement producers, lenders, EPC firms, and local capital markets.
The timing matters. Cement demand growth is shifting toward Africa, South Asia, and Southeast Asia, where housing, transport, power, and industrial infrastructure still need to be built. Investment decisions made today will determine whether that growth is supplied by conventional clinker heavy capacity or by lower carbon, lower clinker production systems.
The core problem is replication. Each LC3 project still requires clay validation, standards alignment, permitting, EPC delivery, offtake, commissioning support, partner incentives, and lender confidence. Without a dedicated development and financing platform, the market will continue to build tomorrow's infrastructure using yesterday's cement model.
The Solution
Bedrock works where proven technology becomes a financeable asset.
Bedrock is building a dedicated development and investment platform for low carbon cement, with LC3 as the initial entry point. The goal is not to subsidize isolated projects. The goal is to create repeatable assets, reusable financing structures, and operating proof that lowers the cost and complexity of the next project.
Structure the capital
Use catalytic capital, commercial equity, strategic partner capital, and senior debt in structures that match project risk to the right source of capital at each stage of market maturity.
Create repetition
Turn early projects into templates for lender education, technical diligence, standards engagement, offtake, operating data, and eventual transfer into long-term local or strategic ownership.
Value Add
We bring development finance discipline to low carbon cement deployment.
Bedrock is designed for projects that are too important to remain conceptual and too complex to fit standard financing templates. We combine project finance, development finance, climate finance, public private coordination, and real economy operating judgment.
From proven chemistry to operating assets
Build the development package required for LC3 plants to operate reliably in local markets.
From first projects to an asset class
Generate the data, contracts, standards pathways, and financing precedents that make future plants easier to underwrite.
From fragmented actors to coordinated execution
Align cement companies, governments, DFIs, philanthropies, EPC firms, lenders, and local partners around bankable delivery.
From catalytic capital to capital recycling
Use scarce catalytic capital where it solves specific barriers, then recycle capital as assets mature and risks fall.
Management Team
Experienced operators at the intersection of capital, industry, and public purpose.
Finance and Operations
Adam Bornstein
Adam has spent more than twenty five years designing financing platforms, investment structures, and coordination architectures across industrial decarbonization, development finance, climate finance, humanitarian systems, and emerging markets.
He is a founding member and former Chief Operating Officer of the Global Industry Hub, a $200M philanthropically backed industrial decarbonization funding entity focused on cement, steel, and chemicals.
Previously, Adam served as Head of Financial Analysis and Innovation, and was an Investment and Climate Policy Committee member at the $17B Green Climate Fund, where he contributed to the assessment and approval of 48 funding proposals totaling about $3.6B, including 22 projects operating across African countries.
Earlier in his career, while based in Ethiopia, Adam established the Red Cross's first reinsurance platform that focused on nature based and parametric mechanism, including issuing the first humanitarian catastrophe bond that was ESG compliant, listed in London, and securitized on blockchain. The reinsurer was later named Trading Risk (Re)Insurer/Sponsor of the Year 2021.
He also served as the International Finance Corporation’s Resident Representative in Mongolia, where he managed an advisory and investment portfolio of more than $100M. Previously, he was Senior Vice President at Hong Kong-based CDIB Capital International, a multibillion-dollar private equity firm focused on Asia, and founded Ymer Venture Capital, an early-stage advisory and venture investment firm, in Shanghai in 2004.
Finance
Ray McLaughlin
Ray brings more than twenty years of experience across asset management, banking, capital markets, and sustainable infrastructure, with the past fifteen years focused on originating, structuring, scaling, and monetising renewable energy platforms across Asia Pacific, Europe, and Africa.
As Group Head of Capital Markets at Mainstream Renewable Power, Ray was the company’s first Singapore hire, establishing its Asia Pacific headquarters and scaling the regional platform to more than 50 professionals across seven offices in six markets. He played a key role in Mainstream’s transactions with Aker and Mitsui at a roughly EUR2.1B valuation, and maintains some of the strongest private and institutional infrastructure investment relationships as a result.
Ray went on to lead development and monetization of a 15GW renewables pipeline, having built a utility scale APAC platform targeting low LCOE greenfield power sites alongside hydrogen and synfuels opportunities. Earlier roles at Royal Bank of Scotland and a Julius Baer Asset Management licensed emerging markets platform built his expertise in capital raising, financial structuring, family office relationships, and impact investment product design.
Cement Origination
Laurent Grimmeissen
Laurent brings more than 40 years of experience in the cement industry, including 24 years at Holcim. He began his career managing his own ready mix concrete company in France, gaining first hand insight into the needs of cement customers and the relationship between cement production and concrete performance.
Following the sale of his company to the Holcim Group, then Holderbank, Laurent joined Holcim's French subsidiary and contributed to a major restructuring led by Arthur Andersen. He was subsequently appointed to Corporate Finance at Holcim's global headquarters in Switzerland, where he held several senior executive positions. His final role was Vice President, Business Development, within the Chairman's Office.
Over the course of his career, Laurent built an extensive international network spanning cement industry leaders, industrial groups, financial institutions, policymakers, and heads of state. That network, combined with his operating and corporate development experience, gives him a distinctive ability to connect investment opportunities with the partners and decision makers required to advance them.
More recently, Laurent has been a leading advocate for LC3 technology and its adoption across the cement industry. At Bedrock, he applies his sector knowledge, international standing, and development experience to identify and advance high impact emissions reduction investments with the potential to deliver attractive commercial returns.
Bedrock
The foundation for industrial decarbonization.
Someone recently quipped, “Bedrock is petrology. I thought you were in cement.”
Exactly.
Every cement plant begins with geology. Limestone, clay, and other minerals are the raw materials that make cement possible. Bedrock represents the physical foundation upon which modern infrastructure is built and the foundation upon which industrial decarbonization must be built.
Together, these ideas define our philosophy. We invest in the industries that literally build the world, beginning with low carbon cement and expanding across heavy industry. These are not only climate investments. They are resilience investments that strengthen economies, improve energy security, reduce dependence on imported fossil fuels, and create infrastructure that will endure for generations.
That is why we are called Bedrock Industrial Management.
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