C-Capture News

Biomass Magazine – C-Capture raises £3.5M in funding round led by BP, Drax, IP Group

Biomass Magazine

5th February 2019

http://biomassmagazine.com/articles/15923/c-capture-raises-l3-5m-in-funding-round-led-by-bp-drax-ip-group

C-Capture raises £3.5M in funding round led by BP, Drax, IP Group

C-Capture, the designer of world-leading chemical processes for carbon dioxide removal, has raised £3.5 million in new equity funding in a round led by BP Ventures, Drax, and IP Group.

The funding strongly underlines the credibility of C-Capture’s technology as the company positions itself to help mitigate climate change by providing systems that remove carbon dioxide emissions from power stations and cement, steel and aluminum facilities.

C-Capture is currently conducting a demonstration project at Drax Power Station in North Yorkshire, which will remove carbon dioxide from emissions produced by generating electricity from sustainable biomass. The project, which is the first of its kind in Europe, is highly significant because it has the capacity to produce negative emissions, whereby carbon dioxide is removed from the atmosphere and stored.

C-Capture will use the new funding to further develop the technology, support larger pilot projects in other industries, and increase marketing globally. Carbon capture and storage (CCS) is widely-regarded as an essential component of strategies to combat climate change—both by removing carbon dioxide from processes that use fossil fuels and producing negative carbon dioxide emissions from power generation that uses biomass. The U.K. government is committed to developing and deploying CCS technology to cut emissions.

Tristan Fischer, chairman of C-Capture, said, “We’re delighted that Drax, IP Group and now BP have all seen that our unique technology has the potential to be applied at scale around the world as part of the global drive to tackle climate change. 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. 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 aluminum, as well as biogas, across a range of territories including India and China.”

C-Capture’s technology uses new proprietary solvents to remove carbon dioxide, offering a safer and less expensive alternative to current technologies based on the use of amines. It provides a means to make the removal of carbon dioxide significantly more economic from a range of large- scale processes, such as power generation from coal, gas and biomass, and the production of cement, steel, and aluminium. C-Capture, based in Leeds, was formed in 2009 as a spin-out from Leeds University with funding from IP Group and has raised over £2.2m from the U.K. government and £1.7 m illion from IP Group so far to develop its technology.

Will Gardiner, CEO of Drax Group, said, “At Drax we are focused on enabling a zero-carbon, lower-cost energy future, and want to take advantage of the environmental and business opportunities created by a growing net zero carbon economy. The innovative technology C-Capture has developed and is piloting at Drax Power Station is putting the U.K. 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 (BECCS) 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.”

David Eyton, BP’s group head of technology said, “BP believes carbon capture, use and storage has a key role to play in reducing emissions, in line with global climate ambitions. C-Capture’s technology could reduce the cost of capturing carbon dioxide. Our investment in C-Capture supports our ambition to advance the energy transition, and we look forward to working with them to explore opportunities to trial their technology.”

Ben Murphy, Cleantech Investment Manager at IP Group plc, said. “C-Capture provides new, world- leading technology for capturing carbon dioxide from large-scale emissions. It has great potential to address climate change by facilitating negative emissions. This funding round further shows IP Group’s ability to build world-changing companies on the back of cutting-edge science. BP and Drax are excellent partners to work with as C-Capture looks to take its technology to global markets.”

 

Business Link – Carbon capture initiative raises £3.5m of funding to mitigate climate change

Business Link

4th February 2019

Carbon capture initiative raises £3.5m of funding to mitigate climate change

Carbon capture initiative raises £3.5m of funding to mitigate climate change

C-Capture, the designer of chemical processes for carbon dioxide removal, has raised £3.5m in new equity funding in a round led by BP Ventures, Drax, and IP Group.

The funding strongly underlines the credibility of C-Capture’s technology as the company positions itself to help mitigate climate change by providing systems that remove carbon dioxide emissions from power stations and cement, steel and aluminium facilities.

C-Capture is currently conducting a demonstration project at Drax Power Station, which will remove carbon dioxide from emissions produced by generating electricity from sustainable biomass. The project, which is the first of its kind in Europe, is highly significant because it has the capacity to produce negative emissions, whereby carbon dioxide is removed from the atmosphere and stored.

C-Capture will use the new funding to further develop the technology, support larger pilot projects in other industries, and increase marketing globally. Carbon capture and storage (CCS) is widely-regarded as an essential component of strategies to combat climate change – both by removing carbon dioxide from processes that use fossil fuels and producing negative carbon dioxide emissions from power generation that uses biomass. The UK government is committed to developing and deploying CCS technology to cut emissions.

Tristan Fischer, chairman of C-Capture, said: “We’re delighted that Drax, IP Group and now BP have all seen that our unique technology has the potential to be applied at scale around the world as part of the global drive to tackle climate change. 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. 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, across a range of territories including India and China.”

C-Capture’s technology uses new proprietary solvents to remove carbon dioxide, offering a safer and less expensive alternative to current technologies based on the use of amines. It provides a means to make the removal of carbon dioxide significantly more economic from a range of large- scale processes, such as power generation from coal, gas and biomass, and the production of cement, steel, and aluminium. C-Capture, based in Leeds, was formed in 2009 as a spin-out from Leeds University with funding from IP Group and has raised over £2.2m from the UK government and £1.7m from IP Group so far to develop its technology.

Will Gardiner, CEO of Drax Group, said: “At Drax we are focused on enabling a zero-carbon, lower-cost energy future, and want to take advantage of the environmental and business opportunities created by a growing net zero carbon economy. 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 (BECCS) 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.”

Hull Live – Region’s energy giants invest millions in company plotting carbon capture revival

Hull Live

4th February 2019

https://www.hulldailymail.co.uk/news/business/regions-energy-giants-invest-millions-2508698

 

Region’s energy giants invest millions in company plotting carbon capture revival

BP and Drax have backed Yorkshire business C-Capture, which is spearheading a revival of carbon capture technology in the Humber.

Two of the region’s biggest energy giants have invested millions of pounds into the company which is spearheading carbon capture technology in the Humber.

BP, based at Saltend Chemicals Park, and Drax have both giving a seal of approval to C-Capture, the business currently designing pioneering technology which hopes to remove harmful carbon dioxide from emissions.

C-Capture is currently piloting carbon capture at Drax Power Station, near Goole, as the technology returns to the spotlight after a three-year absence.

BP, Drax and the IP Group have between them pumped £3.5m into C-Capture.

Tristan Fischer, chairman at C-Capture, said: “We’re delighted that Drax, IP Group and now BP have all seen that our unique technology has the potential to be applied at scale around the world as part of the global drive to tackle climate change.

“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.

“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, across a range of territories including India and China.”

Carbon capture aims to remove carbon dioxide emissions before they are released into the atmosphere.

The emissions can either be stored in underground rock formations, or can be used in sectors such as drinks manufacturing.

Business bosses including Humber LEP chair Lord Haskins have backed the technology, which could one day “revolutionise” the region’s economy.

It was actually around a decade ago since the potential of carbon capture was realised in the Humber.

Talks were held over storing carbon in the North Sea’s depleted gas and oil chambers.

Years went by, but in 2015 Drax was dealt a major blow when Government funding for its carbon capture project was withdrawn, despite £100m already having been spent on proposals.

Now, carbon capture is back on the radar.

David Eyton, BP’s group head of technology, said: “BP believes carbon capture, use and storage has a key role to play in reducing emissions, in line with global climate ambitions.

 

“C-Capture’s technology could reduce the cost of capturing carbon dioxide.

“Our investment in C-Capture supports our ambition to advance the energy transition, and we look forward to working with them to explore opportunities to trial their technology.”

C-Capture will use the new funding to further develop the technology, support larger pilot projects in other industries, and increase marketing globally.

Carbon Capture Journal – C-Capture raises £3.5m in funding round led by BP, Drax and IP Group

Carbon Capture Journal

C-Capture raises £3.5m in funding round led by BP, Drax and IP Group

4th February 2019

http://www.carboncapturejournal.com/news/c-capture-raises-35m-in-funding-round-led-by-bp-drax-and-ip-group/4127.aspx

 

Capture is currently conducting a demonstration project at Drax Power Station in North Yorkshire, which will remove carbon dioxide from emissions produced by generating electricity from sustainable biomass.

The project, which is the first of its kind in Europe, is highly significant because it has the capacity to produce negative emissions, whereby carbon dioxide is removed from the atmosphere and stored.

C-Capture will use the new funding to further develop the technology, support larger pilot projects in other industries, and increase marketing globally. The UK government is committed to developing and deploying CCS technology to cut emissions.

Tristan Fischer, chairman of C-Capture, said: “We’re delighted that Drax, IP Group and now BP have all seen that our unique technology has the potential to be applied at scale around the world as part of the global drive to tackle climate change. 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. 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, across a range of territories including India and China.”

C-Capture’s technology uses new proprietary solvents to remove carbon dioxide, offering a safer and less expensive alternative to current technologies based on the use of amines. It provides a means to make the removal of carbon dioxide significantly more economic from a range of large-scale processes, such as power generation from coal, gas and biomass, and the production of cement, steel, and aluminium. C-Capture, based in Leeds, was formed in 2009 as a spin-out from Leeds University with funding from IP Group and has raised over £2.2m from the UK government and £1.7m from IP Group so far to develop its technology.

Will Gardiner, CEO of Drax Group, said: “At Drax we are focused on enabling a zero-carbon, lower-cost energy future, and want to take advantage of the environmental and business opportunities created by a growing net zero carbon economy. 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 (BECCS) 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.”

David Eyton, BP’s group head of technology said: “BP believes carbon capture, use and storage has a key role to play in reducing emissions, in line with global climate ambitions. C-Capture’s technology could reduce the cost of capturing carbon dioxide. Our investment in C-Capture supports our ambition to advance the energy transition, and we look forward to working with them to explore opportunities to trial their technology.”

Ben Murphy, Cleantech Investment Manager at IP Group plc, said: “IP Group has been involved with the company from the outset and we’re delighted to see C-Capture winning the recognition we feel the technology merits. C-Capture’s technology is world-leading, with exceptional potential to mitigate climate change. That BP and Drax have chosen to invest in the business is further strong validation of C-Capture’s technology. IP Group is delighted to support the team with this fundraising and remains extremely excited about C-Capture’s prospects.”

Gas World – C-Capture raises £3.5m in funding round

https://www.gasworld.com/c-capture-raises-35m-in-funding-round/2016482.article

C-Capture raises £3.5m in funding round

Gas World

By Joanna Sampson

4 Feb 2019

A CO2 removal specialist has captured the attention of three big companies to secure major investment for its technology.

C-Capture revealed today it has raised £3.5m in new equity funding in a round led by BP Ventures, Drax and IP Group.

The UK firm said the funding boost will be used to develop its technology, support larger pilot projects in other industries and increase marketing efforts globally.

C-Capture is currently conducting a demonstration project at Drax Power Station in North Yorkshire, which will remove carbon dioxide from emissions produced by generating electricity from sustainable biomass.

The project, which is the first-of-its-kind in Europe, is highly significant because it has the capacity to produce negative emissions, whereby carbon dioxide is removed from the atmosphere and stored.

“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.”

Will Gardiner, CEO of Drax Group

C-Capture Chairman Tristan Fischer said, “We’re delighted that Drax, IP Group and now BP have all seen that our unique technology has the potential to be applied at scale around the world as part of the global drive to tackle climate change.”

“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.”

“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, across a range of territories including India and China.”

According to C-Capture, its technology uses new proprietary solvents to remove carbon dioxide, offering a safer and less expensive alternative to current technologies based on the use of amines.

It provides a means to make the removal of carbon dioxide “significantly more economic from a range of large-scale processes”.

C-Capture, based in Leeds, was formed in 2009 as a spin-out from Leeds University with funding from IP Group. It has raised more than £2.2m from the UK government and £1.7m from IP Group so far to develop its technology.

Will Gardiner, CEO of Drax Group, said, “At Drax we are focused on enabling a zero-carbon, lower-cost energy future, and want to take advantage of the environmental and business opportunities created by a growing net zero carbon economy.”

“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 (BECCS) 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.”

Energy Live News – BP, Drax and IP Group back C-Capture with £3.5m funding

BP, Drax and IP Group back C-Capture with £3.5m funding

BP, Drax and IP Group back C-Capture with £3.5m funding

Energy Live News

By Priyanka Shrestha

4 Feb 2019

It will use the cash to further develop its technology, which removes carbon emissions from power stations and cement, steel and aluminium facilities

A company developing a new technology to capture carbon emissions has secured investment from energy companies BP and Drax as well as technology commercialisation firm IP Group.

C-Capture – a spin-out company from the Chemistry Department at the University of Leeds – said it has raised £3.5 million in a funding round led by the three firms.

It will use the cash to further develop its technology – which removes carbon dioxide emissions from power stations and cement, steel and aluminium facilities – and support larger pilot projects.

The company is currently conducting a demonstration project at Drax Power Station in North Yorkshire, which will remove emissions produced by generating electricity from biomass.

Tristan Fischer, Chairman of C-Capture, said: “We’re delighted that Drax, IP Group and now BP have all seen that our unique technology has the potential to be applied at scale around the world as part of the global drive to tackle climate change.

“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. 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, across a range of territories including India and China.”

Bioenergy Insight – £3.5 million funding raised for carbon capture project

Display News

Bioenergy Insight

4 Feb 2019

C-Capture, a company specialising in carbon dioxide emissions removal, has raised £3.5 million in an equity funding round led by BP Ventures, Drax and IP Group.

Designed to help mitigate climate change, C-Capture’s technology is a chemical process for carbon dioxide removal. It has been designed for use in power stations as well as aluminium, cement and steel facilities.

A demonstration project is currently being conducted at Drax’s North Yorkshire power station, with the aim of removing the carbon dioxide from emissions produced by generating electricity from biomass. According to a Drax statement, the project has the potential to eventually produce negative emissions, removing and storing CO2 from the atmosphere.

“We’re delighted that Drax, IP Group and now BP have all seen that our unique technology has the potential to be applied at scale around the world as part of the global drive to tackle climate change,” said C-Capture chairman Tristan Fischer.

“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. 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, across a range of territories including India and China.”

Solvent solution

At the heart of C-Capture’s technology are proprietary solvents, which the company claims are safer and less expensive than current technologies based on amines.

“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 changes. This investment gives us a long-term commercial agreement to work together with,” said Will Gardiner, CEO of Drax Group.

“We’re confident that our bioenergy carbon capture and storage (BECCS) 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,” Gardiner continued.

Explaining BP’s decision to be involved in C-Capture’s funding round, the company’s head of technology, David Eyton, said, “BP believes carbon capture, use and storage has a key role to play in reducing emissions, in line with global climate ambitions. C-Capture’s technology could reduce the cost of capturing carbon dioxide.”

Strong push for carbon capture and storage

Signs are that the UK is going to place significant weight into carbon capture and storage technologies as it looks to reduce emissions and tackle climate change.

In November 2018, the Government announced that the UK’s first carbon capture, usage and storage (CCUS) project could be operational from the mid-2020s under an action plan that forms part of the modern Industrial Strategy.

The plan commits the UK to set how to enable the first CCUS facility. This will involve investing £20 million in supporting the construction of CCUS technologies at industrial sites, and investing up to £315 million in decarbonising industry, including the potential use of CCUS.

 

Bdaily – C-Capture raises £3.5m funding to combat climate change

https://bdaily.co.uk/articles/2019/02/04/c-capture-raises-35m-funding-to-combat-climate-change

C-Capture raises £3.5m funding to combat climate change

Bdaily

By Rebecca Wayman

4 Feb 2019

C-Capture, the designer of chemical processes for carbon dioxide removal, has raised £3.5m in new equity funding in a round led by BP Ventures, Drax, and IP Group.

The funding is said to underline the credibility of C-Capture’s technology as the company positions itself to help reduce climate change by providing systems removing carbon dioxide emissions from power stations and cement, steel and aluminium facilities.

C-Capture is currently conducting a demonstration project at Drax Power Station in the region, which will remove carbon dioxide from emissions produced by generating electricity from sustainable biomass.

Tristan Fischer, chairman of C-Capture, said: “We’re delighted that Drax, IP Group and now BP have all seen that our unique technology has the potential to be applied at scale around the world as part of the global drive to tackle climate change.

“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.

“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, across a range of territories including India and China.”

C-Capture will use the new funding to further develop the technology, support larger pilot projects in other industries, and increase marketing globally.

The UK government is committed to developing and deploying CCS technology to cut emissions.

C-Capture’s technology uses new proprietary solvents to remove carbon dioxide, offering a safer and less expensive alternative to current technologies based on the use of amines.

Ben Murphy, Cleantech’s investment manager at IP Group plc, added: “IP Group has been involved with the company from the outset and we’re delighted to see C-Capture winning the recognition we feel the technology merits.

“C-Capture’s technology is world-leading, with exceptional potential to mitigate climate change. That BP and Drax have chosen to invest in the business is further strong validation of C-Capture’s technology.

“IP Group is delighted to support the team with this fundraising and remains extremely excited about C-Capture’s prospects.”

Utility Week – C-Capture raises £3.5m from Drax, BP and IP Group

C-Capture raises £3.5m from Drax, BP and IP Group

C-Capture raises £3.5m from Drax, BP and IP Group

Utility Week

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.

Business Green – C-Capture secures £3.5m backing from BP, Drax and IP Group

https://www.businessgreen.com/bg/news/3070385/c-capture-secures-gbp35m-backing-from-bp-drax-and-ip-group

C-Capture secures £3.5m backing from BP, Drax and IP Group

Business Green

By Michael Holder

4 Feb 2019

CO2 removal specialist C-Capture has secured £3.5m investment from BP, Drax, and IP Group to help further develop chemical processes designed to cut carbon dioxide emissions from power stations and industrial facilities, it announced today.

The new equity funding was raised in a round led by BP Ventures – the oil giant’s venture capital arm – as well as tech investor IP Group and energy firm Drax. The funding injection will be used to develop C-Capture’s technology, support larger pilot projects, and increase marketing efforts globally, the UK firm said.

C-Capture is currently conducting a demonstration project at Drax Power Station in North Yorkshire, where its chemical system is being trialled to remove around one tonne per day of CO2 emissions from one of the energy giant’s biomass power units.

It marks the first Bioenergy Carbon Capture and Storage (BECCS) project in Europe, which Drax believes could potentially pave the way for it to become the world’s first carbon negative power station, whereby CO2 released when burning sustainably sourced biomass is removed from the atmosphere and stored.

Tristan Fischer, chairman of C-Capture – a spin-out company from the University of Leeds – welcomed the funding raise, and said the firm’s “unique” technology had the potential to be applied at scale around the world to help tackle climate change.

“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,” he said. “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, across a range of territories including India and China.”

The firm’s technology uses proprietary solvents to remove CO2 from the flue gas, which it argues offers a safer and less expensive alternative to many other CCS technologies, making the removal of carbon dioxide “significantly more economic from a range of large-scale processes”.

Formed in 2009 at the University of Leeds, the firm has raised over £2.2m from the UK government and £1.7m from IP Group so far to develop its technology.

David Eyton, BP’s group head of technology, said carbon capture use and storage (CCUS) technologies had a key role to play in reducing emissions. “Our investment in C-Capture supports our ambition to advance the energy transition, and we look forward to working with them to explore opportunities to trial their technology,” he said.

The funding announcement came as Parliament’s Scottish Affairs Committee today published a report on the future of the oil and gas industry, which called on the government and the UK’s Oil and Gas Authority take a proactive approach to encouraging the re-use of retired oil and gas infrastructure to support the development of the fledgling CCUS industry. It also suggested the government should consider underwriting liability for such infrastructure.

Moreover, the report said the government should set out a clear plan for funding CCUS in the UK, alongside a detailed proposal from the oil and gas sector for how its three centres of excellence could support the deployment of carbon capture technology.

Stuart Haszeldine, Professor of carbon capture and storage and director of Scottish Carbon Capture & Storage (SCCS), said depleted oil and gas fields could be used to securely story CO2 and that the skills and expertise of the North Sea oil and gas sector would be crucial in enabling the UK to develop a CCUS industry.

“Scotland and the UK can be leading beneficiaries of CCS by making the right business decision, which is also the right environmental decision. CCS will enable a Just Transition for the people of Scotland, supporting the move away from oil and gas towards a future that has stable, high-value local employment while delivering reduced or net-zero carbon budgets,” he said.