Carbon seize know-how firm C-Capture has introduced that it has accomplished an £eight million ($11.13 million) funding spherical supported by present shareholders IP Group, Drax, and bp Ventures, with extra funding from the British Business Bank’s Future Fund.
The funding displays the boldness of the C-Capture board in C-Capture’s carbon seize know-how and the Government’s assist for firms who’ve the potential to assist remedy the local weather disaster.
C-Capture has patented a novel, solvent-based know-how that provides a protected, low-cost option to take away carbon dioxide from emissions utilizing a post-combustion seize method. It supplies a way to make the removing of carbon dioxide considerably extra financial from a variety of large-scale processes, comparable to energy technology from coal, fuel and biomass, and the manufacturing of cement, metal, and aluminum.
See our different tales on carbon seize, utilization and sequestration (CCUS) tasks
C-Capture is likely one of the applied sciences being evaluated as a part of a pilot program at Drax, to display carbon-negative energy manufacturing. C-Capture was lately acknowledged by bp’s advancing low carbon program and was highlighted in a current UK authorities report as an essential rising carbon seize know-how.
C-Capture was based in 2009 as a spin-out from the Department of Chemistry on the University of Leeds with backing from IP Group.
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Tom White, C-Capture CEO, mentioned: “Additional funding from our shareholders helps C-Capture in additional optimising its carbon seize know-how, enhancing efficiency while driving down prices. The advantages our know-how can supply over present state-of-the-art carbon seize applied sciences could assist deployment throughout a variety of sectors to be accelerated. Securing this spherical of funding permits our technical group to actually give attention to creating a product that may change the way in which the world thinks about carbon seize.”
Ben Murphy, funding director at IP Group and C-Capture Director, mentioned: “C-Capture is a testomony to the potential for brand new science to form the world for the higher. C-Capture has the potential to be one of the vital impactful startups on the earth’s future power system. At IP Group we’re proud to have been there from the start, serving to to construct the corporate up from its foundations.”
Martin Sellers, low carbon digital know-how principal at bp and C-Capture Director, mentioned: “Carbon seize is a vital know-how for the power transition, as in line with the International Energy Agency (IEA) Sustainable Development Scenario, it can account for 7% of the cumulative emissions reductions wanted globally by 2040. bp ventures acknowledges C-Capture’s progress in creating the know-how, and in serving to to fulfill that essential goal.”
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