C-Capture has tapped £8M in new funding from its shareholders IP Group, Drax, and BP Ventures, with additional funding from the British Business Bank’s Future Fund.
The company is working on a ‘post combustion’ carbon capture technology that could be used for the flue gases from cement or steel production as well as for use in power plants, such as energy from waste plants. It has a pilot plant at Drax in Yorkshire and in November announced an InnovateUK-funded demonstration project at glass manufacturers Pilkington.
Tom White, C-Capture chief executive, said: “Additional investment from our shareholders supports C-Capture in further optimising its carbon capture technology, improving performance whilst driving down costs. The benefits our technology can offer over current state-of-the-art carbon capture technologies may help deployment across a range of sectors to be accelerated. Securing this round of investment allows our technical team to really focus on developing a product that will change the way the world thinks about carbon capture.”
Martin Sellers, low carbon digital technology principal at BP and C-Capture director, said:“Carbon capture is an essential technology for the energy transition, as according to the International Energy Agency (IEA) Sustainable Development Scenario, it will account for 7% of the cumulative emissions reductions needed globally by 2040. bp ventures recognises C-Capture’s progress in developing the technology, and in helping to meet that important target.”