C-Capture, a UK-based company specializing in chemical processes for carbon dioxide (CO2) removal, has successfully secured up to £10 million (approx. $12.3 million) in funding to scale its innovative carbon capture technology.
The investment round was led by Northern Gritstone, with participation from existing investors including bp Ventures, Drax, and Kiko Ventures, with a possibility of additional investors joining the round in the future, C-Capture said in a statement on its website.
This funding injection coincides with the UK government’s commitment to allocate £20 billion ($45.3 million) to support four carbon capture clusters, which are expected to create thousands of jobs across the country.
C-Capture intends to utilize this fresh capital to further its technology commercialization strategy, including extensive testing of its fully-integrated carbon removal pilot plant operating at Drax power station in Yorkshire with a daily capacity of capturing one ton of CO2.
Additionally, the funding will be instrumental in scaling up C-Capture’s technology, enabling the construction of a commercial demonstration plant capable of capturing an impressive 100-200 tons of CO2 daily.
“This investment brings us one step closer to realizing our mission of mitigating climate change by allowing our team to focus on scaling our technology,” Tom White, CEO of C-Capture, commented, highlighting Northern Gritstone’s expertise and the alignment between the two companies.
“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,” Duncan Johnson, CEO of Northern Gritstone, added.
Founded in 2009 as a spin-out of the University of Leeds by Prof. Chris Rayner, C-Capture’s carbon capture solutions offer a safe, cost-effective method for removing CO2 emissions from sources such as power plants, industrial facilities, and anaerobic digesters.
Notably, the company’s next-generation solvent technology requires up to 40% less energy than existing methods, which makes it suitable for deployment in challenging industrial sectors, such as power generation, cement production, steel manufacturing, and aluminum production.