C-Capture raises £3.5m from Drax, BP and IP Group
By Tom Grimwood
4 Feb 2019
C-Capture has secured £3.5 million of equity funding from Drax, BP Ventures and IP Group to further develop its carbon capture technology and undertake new and larger pilot projects.
The company is already conducting a demonstration at Drax’s power station in North Yorkshire with the aim of generating negative emissions by combining carbon capture and storage with biomass.
“We’re all very excited about the pilot project with Drax and also that this new funding will help to develop our technology for use across a range of industries,” said C-Capture chairman Tristan Fischer.
“We are looking carefully at the broader market for our carbon capture technology, which includes not just power generation but also the production of cement, steel and aluminium, as well as biogas”.
Drax Group chief executive Will Gardiner said: “The innovative technology C-Capture has developed and is piloting at Drax power station is putting the UK on the map when it comes to carbon capture and global efforts to tackle climate change. This investment gives us a long-term commercial agreement to work together with them.
“We’re confident that our bioenergy carbon capture and storage pilot project will be successful, and if we scale it up, it could enable Drax to become the world’s first negative emissions power station. This significant milestone means the power we produce would help to reduce the carbon dioxide accumulating in the atmosphere.”
Since being formed in 2009, C-Capture had previously raised more than £2.2 million from the government and £1.7 million from IP Group. The company claims its proprietary solvents for extracting carbon dioxide from flue gases offer a cheaper and safer alternative to technologies based on the use of amines.