Carbon dioxide removal specialist C-Capture has received funding from UK investment company Northern Gritstone as part of a funding round of up to £10m alongside existing investors bp Ventures, Drax and Kiko Ventures (IP Group).
Launched in 2009, C-Capture received initial funding from IP Group and has since expanded its operations to advance development of its amine-free solvent technology.
The company uses its solvent technology to remove CO2 emissions post-combustion at source.
According to the company, its solution uses up to 40% less energy than currently available approaches.
This could enable the company to make CO2 removal more economically viable for industries as far ranging as gas and biomass, power generation from coal, and the production of steel, cement and aluminium.
“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,” said Tom White, CEO of C-Capture.
Having developed around 20 feasibility studies with end users, C-Capture’s latest investor will add to the company’s technology commercialisation strategy which includes further testing of its one tonne per day carbon removal pilot plant that is currently operating at Drax power station in Yorkshire.
The funding will also go towards development of a commercial demonstration plant which will capture around 100-200 tonnes of CO2 per day.
Duncan Johnson, CEO of Northern Gritstone, emphasised the need to harness carbon capture technologies for the energy transition, adding, “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.”
Earlier this month, C-Capture received a visit from UK Shadow Chancellor of the Exchequer Rachel Reeves to their Leeds headquarters.
The visit aimed to explore the potential of C-Capture’s solvent-based capture technology to mitigate climate change.
Commenting on the visit, Rachel Reeves, Labour MP for Leeds West and Shadow Chancellor, said, “It was fantastic to visit C-Capture in Leeds to see the incredible work taking place on carbon capture and storage (CCS).”
Rachel Reeves, Labour MP for Leeds West and Shadow Chancellor, taking a tour of C-Capture with CEO, Tom White. Credit Tom Arran
“It’s these types of businesses that show the huge potential we have as a region and a country to be a world leader in the industries of the future.”