C-Capture announced that it has completed an £8M funding round supported by existing shareholders IP Group, Drax, and bp Ventures, with additional funding from the British Business Bank’s Future Fund. The investment reflects the confidence of the C-Capture board in C-Capture’s groundbreaking technology, and the government’s support for companies who have the potential to help solve the climate crisis.
Tom White, C-Capture CEO, said: “Additional investment from our shareholders supports C-Capture in further optimizing 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.”
“Carbon removal technologies are essential in addressing the climate crisis. Drax and C-Capture will continue to work together to develop the vital negative emissions technology, bioenergy with carbon capture and storage, expected to make a significant contribution towards the UK reaching its legally binding net zero by 2050 target,” said Jason Shipstone, Chief Innovation Officer at Drax Group and C-Capture Director.
Courtesy of C-Capture.