UK carbon capture, utilisation, and storage (CCUS) company Carbon8 has announced the closure of a £5m funding round led by industrial cement group Vicat and energy giant EDF Group.
The firm, a spin-out from the University of Greenwich, announced yesterday that it had clinched £4m of investment from Vicat, EDF Group, and its corporate venture arm EDF Pulse Ventures, and “near £1m” from an existing private investor.
Carbon8 has developed a process which combines industrial residues with CO2 captured at industrial sites to produce “high value minerals” that can be reused as aggregates for construction and fertilisers.
Carbon8 CEO, John Pilkington, said the investment would help the business scale up and help more industrial sites to decarbonise.
“The investment made by EDF and Vicat is hugely valuable as we accelerate the growth of our business, and maximise the positive impacts – capturing carbon, re-using residues – that we can offer to industry,” he said. “We are delighted to have the support of these two major companies, and the continued backing of our other investors.”
Carbon8’s technology is currently installed at a Vicat cement plant in France, and is offered by EDF Group as part of “CO2 as a service” package to industrial customers looking to decarbonise.
“We were drawn to Carbon8’s two-part technology: capturing the CO₂ that Montalieu emits, and using it to produce an aggregate that can be marketed in the construction industry,” said Laury Barnes-Davin, scientific and R&D director of Vicat Group. “It opens up great potential for our operations not just in France but also in all the countries where we work across the globe.”
Carbon8 said its plug-and-play, scalable, and modular CCUS solution is suitable for a range of emisisons-intensive sectors, including cement, steel and paper and energy-from-waste.