C-Capture, a UK-based developer of carbon dioxide (CO2) separation technology, has raised £8m ($11.3m) in funding from investors including petroleum provider BP and power producer Drax Power.
BP Ventures took part on in the round behalf of BP, and it included technology commercialisation firm IP Group and the state-owned British Business Bank’s Future Fund.
Spun out of University of Leeds in 2009, C-Capture has built CO2 capture and storage systems intended to enable factories and power plants to catch and eliminate combustion furnace gases in the smoke flue.
C-Capture chief executive Tom White said: “Additional investment from our shareholders supports C-Capture in further optimising its carbon capture technology, improving performance whilst driving down costs.”
BP Ventures, Drax and IP Group co-led a $4.6m round for C-Capture in early 2019. IP Group had backed the company’s $263,000 seed round in 2011 with Finance for Business North East Technology Fund, having incubated C-Capture and invested an undisclosed sum two years before.
