Northern Gritstone invests in C-Capture of Leeds

Northern Gritstone has invested in C-Capture, the designer of chemical processes for carbon dioxide (CO2) removal, as part of a funding round of up to £10 million alongside existing investors bp Ventures, Drax and Kiko Ventures, with the potential for additional investors to follow.

C-Capture has patented a solvent-based technology which offers a safe, low-cost way to capture carbon dioxide (CO2) from emissions sources across a range of industries.

Northern Gritstone is the investment business focused on university spin-outs and science and technology enabled businesses in the North of England.

Based in Leeds, C-Capture was formed in 2009 as a spin-out from the School of Chemistry at the University of Leeds with initial funding from IP Group.

The company has since won backing from private investors and from the UK Government to develop its innovative carbon capture technology, which can prevent CO2 emissions from industrial processes from entering the atmosphere.

Northern Gritstone CEO Duncan Johnson said: “Carbon capture is critical for the energy transition and C-Capture’s unique technology has the potential to be applied at scale around the world as part of the global drive to tackle climate change.

“The company is a testament to how the world-leading science in the North of England could shape the world for the better.

“We look forward to joining forces with Tom and his team, and the company’s existing shareholders, as C-Capture looks to further scale its technology, helping global efforts to address climate change.”

C-Capture CEO Tom White said: “There has never been a more critical time to take action – decisive action – against climate change than right now.

“This investment brings us one step closer to realising our mission of mitigating climate change by allowing our team to focus on scaling our technology.

“From our first meeting with Duncan and his team, we knew that our priorities and values are very much aligned so we’re very pleased to welcome Northern Gritstone as an investor.

“With their expertise in backing visionary companies in the North of England, I see a very bright future ahead of us.”

Launched in July 2021 by the Universities of Leeds, Manchester and Sheffield, Northern Gritstone was founded with the philosophy of Profit with Purpose, combining strong returns for investors with wider positive, societal and economic impact.

The company is deploying more than £300 million of capital, having secured commitments from a broad and diverse base of investors including British Patient Capital, Greater Manchester Pension Fund, West Yorkshire Pension Fund, M&G and Columbia Threadneedle.