C-Capture, at the forefront of carbon dioxide removal technology, has successfully secured up to £10 million in funding. The round, spearheaded by Northern Gritstone and joined by established investors including bp Ventures, Drax, and Kiko Ventures, signals a significant milestone for the company. With the UK government committing £20 billion to support carbon capture clusters nationwide, C-Capture's innovative approach promises to play a pivotal role in addressing climate change.
Founded in 2009 by Prof. Chris Rayner as a spin-out of the University of Leeds, C-Capture is revolutionizing carbon capture with its solvent-based technology. Offering a safe and cost-effective means to extract carbon dioxide from emissions sources, including power stations and industrial plants, C-Capture's approach promises environmental benefits of immense significance.
The newly secured funds will be instrumental in advancing C-Capture's technology commercialization strategy. This includes further testing of their one-tonne-per-day carbon removal pilot plant at Drax power station in Yorkshire. Additionally, the investment will drive the establishment of a commercial demonstration plant capable of capturing 100-200 tonnes of carbon dioxide daily.
Tom White, CEO of C-Capture, underscores the urgency of climate action and the significance of this investment in realizing their mission. He emphasizes the alignment of priorities and values with Northern Gritstone, expressing optimism about the company's future.
Duncan Johnson, CEO of Northern Gritstone, recognizes the critical role carbon capture plays in the global energy transition. C-Capture's unique technology, rooted in North England's world-leading scientific prowess, has the potential to drive meaningful change in the fight against climate change.
C-Capture's next-generation solvent technology stands out as a sustainable solution for decarbonization, consuming up to 40% less energy than existing methods. Its robustness and adaptability make it suitable for deployment across hard-to-abate industries, significantly enhancing the economic viability of carbon dioxide removal.