TSP Ventures co-led the round, supported by Foresight Group, the British Business Bank, the University of Nottingham, and angel investors.
"We are delighted to be joining the Promethean Particles team and becoming a part of their onward journey. On the current trajectory, global warming is predicted to reach 2.7°C by 2100. Hitting the 1.5°C target established in the 2015 Paris Agreement will require a 45% reduction in annual global emissions by 2030. However, even with all the current climate pledges and commitments, global emissions are set to increase significantly over this period. At TSP, we believe that hitting, or even getting close to this target without carbon capture is now virtually impossible. Bringing down the cost of carbon capture (both point-source and Direct Air Capture) is essential and as Venture Capitalists, we believe it is our role to support emerging, World-changing technologies through the difficult development period to full commercialisation. Under the experienced leadership of CEO James Stephenson, we are certain that the Promethean team have all the necessary knowledge and expertise to scale this technology."
TSP Ventures has led a seed funding round into Wastewater Fuels to support the development of microbial electrolysis technology.
"We are over the moon to have TSP Ventures join our journey. The guidance we’ve received from Chris, Mike and team has helped shape our vision for Wastewater Fuels and set solid foundations for rapid technology exploitation. Our goal now is to deliver the promise of MEC technology – zero emission hydrogen, produced adjacent to where the need for clean energy is greatest; and net energy positive wastewater treatment. Our researchers and engineers are building hundreds of prototypes that push the frontier of energy efficient fuel creation and wastewater treatment. We foresee our modular and scalable system changing the world for the better, from lowering utility and fuel bills, to reducing the spread of disease and fighting climate change."
The Edinburgh start-up has raised £150k in a round led by British Design Fund to expand its manufacturing capabilities.
"Rocketing fuel prices are plunging many households into fuel poverty, which highlights the need for easier, more affordable ways to reduce window heat loss. Our Gecko Panes provide provide an affordable and easy way to reduce heat loss and emissions from the UK’s poorly insultated housing stock. We aim to install Gecko Panes in thousands of homes per year, not just in the UK, but in key export markets too."
The Kent-based firm secured equity finance to fund international expansion and new product development.
"The need to have power to critical and remote locations without the reliance on fossil fuels is growing more acute by the day. We see this latest fundraise as just the start of another period of exceptional growth."
The pre-seed round was led by Jenson Funding Partners with backing from angel investors.
"Water is a critical part of our diet, but too often it’s neglected. At Sküma, we’ve developed the Super-Filter® cartridge to enhance the benefits of water. With our selection of Infusions®, customers can optimise their personal health with an easy-to-install system, while being 100% sustainable."
