Novacem Closes GBP1.6m Investment Round; Laing O'Rourke Joins Investor Group

LONDON, January 26, 2011 - Novacem, the carbon negative cement company, today announced that Laing
O'Rourke had joined its investment group as part of a GBP1.6m round. All
three of Novacem's existing financial investors - Imperial Innovations, the
London Technology Fund, and the Royal Society Enterprise Fund - also
participated in the round. This follows the announcement by Imperial
Innovations of its own GBP140m fundraising in December 2010.

Novacem's 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. Novacem videos
with more information can be seen at novacem.com/news/videos/

Novacem will use the GBP1.6m raised to continue the development of its
carbon negative cement and manufacturing process, and to expand its
commercial activities in the run up to an expected Series-A financing.

Laing O'Rourke's participation in the investment round follows its
successful earlier collaboration in a two year (2008-10) GBP1.5m Technology
Strategy Board project led by Novacem. The two companies are already planning
further joint development activities.

Ray O'Rourke, Laing O'Rourke's Chairman and Chief Executive, said
"Clients are seeking increasingly more viable and sustainable construction
solutions, and the industry can no longer drag its heels on this issue. At
Laing O'Rourke we know our clients are looking to us to collaborate with the
cement industry to overcome this challenge. Good progress has been made over
the last ten years, but much more needs to be done. Although we recognise
there is a limit to what is possible to improve the sustainability of
conventional Portland cement, we are excited by the radical innovation being
developed through our partnership with Novacem. I look forward to forging
stronger working relationships with the company through this investment, and
to delivering a viable carbon-negative Novacem product to use in our own
projects."

Novacem Chairman Stuart Evans commented "Cement is a truly vital
strategic commodity but faces enormous challenges in a low carbon world. The
addition of Laing O'Rourke to our investor group is exciting as we continue
to build the eco-system of industrial partners to deploy our technology
across the world. We are also delighted that our original investors have
chosen to make follow-on investments. These both endorse the huge potential
in the Novacem technology. This new investment makes us very excited about
2011."

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. In 2010 the company announced its Green Cement Bond with Lafarge,
the world leader in building materials, as the first subscriber. Novacem is a
World Economic Forum Technology Pioneer for 2011.

Novacem is currently working on a development programme to design
construct and operate an Industrial Pilot Plant (up to 25,000 tonnes per
year) to be co-located with an existing cement plant. It will work closely
with Green Cement Bond subscribers and other industrial partners in this
project 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.

The company raised a GBP1.1m Seed Round in 2009 from Imperial
Innovations, the Royal Society Enterprise Fund and the London Technology
Fund. It has also received financial and other support from the Technology
Strategy Board, the Carbon Trust and industrial collaborators.

Laing O'Rourke www.laingorourke.com

As an international engineering enterprise with a 162-year history of
achievement, Laing O'Rourke funds, designs, manufactures, constructs and
maintains the built environment. Our business model comprises the full range
of engineering, construction and specialist services capabilities. Our offer
is fully integrated to deliver a single-source solution for some of the
world's most prestigious client organisations. Overall, our delivery is
founded on a collaborative approach working with clients from concept to
completion, advising on and providing the best ways to manage their projects
and achieve the greatest value.

The Group is implementing a long-term strategy which aims to create
sustainable value that will be shared by all our stakeholders - employees,
clients, shareholders and the community

Imperial Innovations www.imperialinnovations.co.uk

Innovations creates, builds and invests in pioneering technologies
addressing global problems in healthcare, energy and engineering. It combines
deep understanding of science and technology with commercial acumen and
strong investment expertise.

Innovations has achieved significant success with its early investments
and recently announced a GBP140m equity raising to accelerate the making of,
and increase the size of, investments in companies established under its
existing intellectual property pipeline agreement with Imperial College
London. The Group also intends to invest in companies founded by or based on
technology from the University of Oxford, the University of Cambridge and
University College London.

London Technology Fund www.londontechnologyfund.com

The London Technology Fund (LTF) is London's specialist investor in new
technology companies. LTF is focused on the funding gap for new, high growth
technology companies based in Greater London and bridges the gap by leading
and building a syndicate of investors or by completing the gap in an existing
syndicate. It invests from GBP50,000 to over GBP1m in individual investment
rounds, resulting in investment rounds from LTF and co-investors ranging from
GBP100,000 to over GBP10m. It is managed by Company Guides Venture Partners
Ltd.

The Royal Society Enterprise Fund
www.royalsociety.org/Enterprisefund

The Royal Society is the UK's national academy of science. Founded in
1660, the Society has three roles, as a provider of independent scientific
advice, as a learned Society, and as a funding agency. Our expertise is
embodied in the Fellowship, which is made up of the finest scientists from
the UK and beyond. Our goals are to:

    - Invest in future scientific leaders and in innovation
    - Influence policymaking with the best scientific advice
    - Invigorate science and mathematics education
    - Increase access to the best science internationally
    - Inspire an interest in the joy, wonder and excitement of scientific
      discovery

For more information contact: Dr John Prendergast, Marketing Manager, +44(0)20-7594-9531, +44(0)7800-644620, john.prendergast at novacem.com; Matthew Moth/ Charles Reynolds, Madano Partnership, +44(0)20-7593-4000; Diana Crisp, PR Manager, +44(0)20-7594-6589, London Technology Fund; David McMeekin, Chairman, +44(0)20-7247-6300, Company Guides Venture Partners Ltd; Nicola Kane, Press Officer, +44(0)20-7451-2508, The Royal Society