CCSL has been developing technologies that capture and separate carbon dioxide (CO2) from the flue gas emitted by the industries
Carbon Clean Solutions secures $16m investment. (Credit: Carbon Clean Solutions Limited.)
UK-based Carbon Clean Solutions (CCSL) has secured an equity investment of $16m from global investors including WAVE Equity Partners, Chevron Technology Ventures, and Marubeni for the development of carbon capture and usage projects.
Established in 2009, CCSL has been developing technologies that capture and separate carbon dioxide (CO2) from the flue gas emitted by coal or gas-fired power plants, along with steel, cement, refining and petrochemicals and waste incineration plants.
CCSL CEO Aniruddha Sharma said: “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.”
“Our investors are active participants in helping to develop and scale carbon capture utilisation and storage solutions. We look forward to collaborating closely with them to advance our technology and deliver real impact, on gigatonne or 1 billion tonne CO2 abatement scale.”
CCSL develops technologies for CO2 capture at reduced cost
The investment in CCSL is planned to be used for the development of carbon capture utilisation (CCU) projects, aimed at reuse of CO2 or its conversion into other products.
In addition, the investment is expected to deliver an existing pipeline of global projects to reduce emissions and develop ‘containerised’ solutions to obtain $30 per tonne cost of CO2 capture by 2021.
CCSL has developed a new solvent, for use in the conventional chemical absorption process, to enable effective CO2 capture at lesser cost, compared to existing technologies. The company has also started developing an advanced technology, which has potential to enable further cost reduction.
Marubeni plant division chief operating officer Eiji Okada said: “With CCSL’s innovative and cost-competitive technology, we are very keen to jointly develop Carbon Capture Utilization and Storage business across the world by leveraging our global networks deeply rooted in various industries.
“We strongly believe that this breakthrough technology enables us to realize circular economy, maximizing the value of CO2 as the resources.”