Today Northern Gritstone announced that it has invested in carbon dioxide capture company C-Capture as part of a funding round of up to £10 million.
C-Capture has patented a unique, solvent-based technology that offers a safe, low-cost way to capture carbon dioxide (CO2) from emissions sources across various industries.
It uses up to 40 percent less energy than currently available approaches, offering a safer, more efficient, and more cost-effective alternative to current technologies based on traditional chemistries.
The company is making carbon dioxide removal significantly more economically viable from a wider range of large-scale processes, such as coal, gas and biomass power generation and cement, steel, and aluminium production.
Based in Leeds, C-Capture was formed in 2009 as a spin-out from the School of Chemistry at the University of Leeds with initial funding from IP Group, Drax and bp Ventures.
It has already delivered around 20 feasibility studies with end customers across various sectors and use cases.
The company has since won backing from private investors and from the UK Government to develop its innovative carbon capture technology, raised an overall £16.7 million.
Today’s investment by Northern Gritstone will support C-Capture’s technology commercialisation strategy, which includes further testing of its one tonne per day, fully-integrated carbon removal pilot plant that is currently operating at Drax power station in Yorkshire.
The funding will also scale up C-Capture’s technology by delivering a commercial demonstration plant that will capture around 100-200 tonnes of carbon dioxide daily.
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.”
Lead image via C-Capture. Photo: Uncredited.