Carbon Clean Solutions Limited (CCSL), a London, UK – based low-cost carbon dioxide (CO2) capture and separation technology maker, completed a new equity investment of $22m from a Series B funding round.
Backers included Equinor Ventures (EV) and ICOS Capital (ICOS), which joined the three global backers WAVE Equity Partners, Chevron Technology Ventures, and Marubeni Corporation, who invested $16m into CCSL in February.
The company intends to use trhe funds to grow the team and deliver its proven CO2 capture technology for carbon capture, utilization and storage (CCUS) projects across the steel, cement, waste management and refining & petrochemicals sectors. CCSL will also continue to invest in the production of their “containerised” solution to achieve $30/tonne cost of CO2 capture not including carbon credits by 2021.
Led by Aniruddha Sharma, CEO, CCSL is at the forefront of developing affordable carbon capture technology for utilization and storage. The technology has been proven at demonstration scale in over 10 locations, including the UK, USA, Germany, India, Norway and the Netherlands, and is currently in use at the world’s largest industrial-scale carbon capture and utilisation plant in Tuticorin, India. CCSL is headquartered in London and also operates offices in India and the United States.