Carbogenics, an Edinburgh, Scotland, UK-based developer of proprietary technology that boosts green energy production, raised £1M in funding.
The round was led by Green Angel Ventures along with existing investors Scottish Enterprise and Old College Capital.
The company intends to use the funds to open first production facility in Scotland.
Founded in 2016 as a spin-out from the University of Edinburgh and led by CEO Ed Craig, Carbogenics develops a bio-additive known as CreChar, which, made utilising a high-temperature low-oxygen process called Pyrolysis, stabilizes the performance of anaerobic digestion plants and enhance green energy production from food and farming waste. This results in higher quantities and quality of biogas and biochar infused digestate which sequesters carbon and enhances the fertilisation process.
The product is patent protected in Europe and China.
Based on lab and industrial trials, Carbogenics’ growth plan includes building its first production facility in Perthshire to enable the launch of CreChar into the UK anaerobic digestion market. It’s anticipated the facility will be operational by the end of Q1 2024. The company is also creating new roles across production, operations and business development doubling its size and is in the process of raising further debt and investment finance in the coming months.
FinSMEs
03/06/2023