Northern Gritstone has invested up to £10 million alongside C-Capture’s investors who include bp Ventures, Drax and the IP Group Kiko ventures, with more potential investors on the way.
Northern Gritstone chose to invest in C-Capture to help them on two projects the company has been working on, these include supporting C-Capture’s technology commercial strategy by enabling them to carry out further testing of their one ton per day fully integrated carbon removal pilot plant which is located at the Drax power station in Yorkshire. The other project the funding will aid is to scale-up and improve their technology, Northern Gritstone will do this by providing a demonstration plant which will capture 100-200 tons of CO2 every day. Northern Gritstone have chosen to invest in the company because after being created in 2009 and worked its way up through funding and has put a lot of effort into developing its carbon capture technology which are now able to prevent CO2 emissions created from industrial processes, entering the atmosphere.
C-Capture’s process involves innovative solvent technology which provides a sustainable solution to decarbonisation and uses up to 40% less energy than currently available approaches. It is incredibly robust and suitable for use even within hard-to-abate industries. C-Capture removes carbon dioxide emissions at the source, through using new solvents. This process offers a safer, more efficient and extremely cost-effective alternative to current technologies which run in traditional chemistries. This has the benefit of making carbon dioxide removal much more economically viable for a wider range of large-scale processes, these include power generated from coal, gas and biomass. The production of cement, steel, and aluminium are also massive focuses for C-Capture’s vision. Through this variety of processes, C-Capture offers industries which deal with the areas listed above, a route to decarbonisation. The company has previously delivered about 20 feasibility studies with end customers across a wide range of sectors and use cases.
The CEO of C-Capture, Tom White, commented, “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.”