Leeds-based C-Capture, a company that designs chemical processes for carbon dioxide removal, announced that it has secured £10M (approximately €11.59M) in a fresh round of funding.
The UK-based company has patented a solvent-based technology that offers a safe and affordable solution for capturing carbon dioxide (CO2) emissions from various industries.
This funding comes shortly after the UK government announced £20B of funding to support four carbon capture clusters that will support jobs across the UK.
Investors in this round
The investment came from Northern Gritstone along with existing investors, including bp Ventures, Drax, and Kiko Ventures.
Duncan Johnson, CEO of Northern Gritstone says, “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.”
Promising method for capturing CO2 emissions
Founded in 2009, C-Capture is a spin-out from the University of Leeds. The company has developed an innovative carbon capture technology, supported by private investors and the UK Government.
The company’s technology helps prevent CO2 emissions from industrial processes from entering the atmosphere.
According to C-Capture, its solvent technology represents a sustainable approach to decarbonisation, distinguished by its lower energy consumption, up to 40 per cent less than existing methods.
C-Capture uses its proprietary solvents to eliminate CO2 emissions at their source, presenting a safer, more efficient, and cost-effective alternative to conventional chemical-based carbon capture technologies.
The company’s central vision is to make carbon dioxide removal economically viable for a broader array of large-scale processes, including power generation from coal, gas, and biomass, as well as cement, steel, and aluminum production. By doing so, it provides these industries with a pathway to decarbonisation.
C-Capture has already conducted approximately 20 feasibility studies in collaboration with end customers, spanning various sectors and applications.
In May 2018, C-Capture partnered with Drax Group for a pilot project at a North Yorkshire power station. The project captured CO2 from biomass power generation and showcased the potential of C-Capture’s technology for removing existing CO2 from the atmosphere through Bioenergy with Carbon Capture and Storage (BECCS).
Capital utilisation
C-Capture says it will use the funds to bolster its technology commercialisation strategy.
This includes further testing and refinement of their one-tonne-per-day carbon removal pilot plant at the Drax power station, as well as the development of a commercial demonstration plant capable of capturing 100-200 tonnes of carbon dioxide per day.
Tom White, CEO of C-Capture says, “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.”
