C-Capture, which designs chemical processes for carbon dioxide removal, has closed up to £10 million in funding. The round was led by Northern Gritstone alongside existing investors, including bp Ventures, Drax, and Kiko Ventures (which is known for backing Mixergy and Oxccu), with the potential for additional investors to follow.
This investment comes shortly after the UK government has announced £20 billion of funding to support four carbon capture clusters that will support thousands of jobs across the UK.
The fresh funds will support C-Capture’s technology commercialisation strategy, which includes further testing of its one tonne per day, fully-integrated carbon removal pilot plant, operating at Drax power station in Yorkshire. The funding will also be used to scale up C-Capture’s technology through the delivery of a commercial demonstration plant which will capture around 100-200 tonnes of carbon dioxide per day.
Tom White, CEO of C-Capture, said: “There has never been a more critical time to take action – decisive action – against climate change than right now. This investment brings us one step closer to realising our mission of mitigating climate change by allowing our team to focus on scaling our technology. From our first meeting with Duncan and his team, we knew that our priorities and values are very much aligned so we’re very pleased to welcome Northern Gritstone as an investor. With their expertise in backing visionary companies in the North of England, I see a very bright future ahead of us.”
Duncan Johnson, CEO of Northern Gritstone, said: “Carbon capture is critical for the energy transition and C-Capture’s unique technology has the potential to be applied at scale around the world as part of the global drive to tackle climate change. The company is a testament to how the world-leading science in the North of England could shape the world for the better. We look forward to joining forces with Tom and his team, and the company’s existing shareholders, as C-Capture looks to further scale its technology, helping global efforts to address climate change.”
Unique approach to remove carbon dioxide
Founded by Prof. Chris Rayner as a spin-out of the University of Leeds in 2009, C-Capture is a carbon capture company that offers a unique, solvent-based technology. It is a safe, low-cost way to remove carbon dioxide from emissions sources such as power stations, industrial plants, and anaerobic digesters for positive environmental benefits.
C-Capture’s next-generation solvent technology offers a sustainable solution to decarbonisation, using up to 40% less energy than currently available approaches. It is extremely robust and suitable for use even within hard-to-abate industries. Making carbon dioxide removal significantly more economically viable from a wider range of large-scale processes, such as power generation from coal, gas and biomass, and the production of cement, steel, and aluminium is central to C-Capture’s vision.
