Three global investors, WAVE Equity Partners, Chevron Technology Ventures and Marubeni Corporations, have invested £12.3 million in UK carbon dioxide separation technology innovator, Carbon Clean Solutions Limited (CCSL).
CCSL, a UK-based start-up founded in 2009, is pioneering the way of developing affordable carbon capture technology for utilisation and storage, as used by steel, cement, refining and petrochemicals and waste incineration plants.
Aniruddha Sharma, CEO of CCSL has revealed, “this investment demonstrates the confidence our new investors have in our technology and its commercial scalability… we can now grow our company to a size that can help deliver projects to make a ‘net zero’ emissions world possible and expand our modularised CO2 capture technology to heavy industry.”
The investment aims to commercialise and scale carbon capture utilisation and storage technologies and unlock numerous markets. In particular, the investment will be used on existing projects to lower emissions from industry, as well as advance the development of “containerised” solutions to achieve $30/tonne cost of CO2 by 2021.
With the growing movement behind the global fight against climate change, the continual innovative work conducted by CCSL will seek to make a significant contribution to create and deliver more reliable, cost-effective and cleaner energy to achieve big emission reductions.