Promethean Particles secures new funding led by TSP Ventures to advance carbon capture technology.
TSP Ventures co-led the round, supported by Foresight Group, the British Business Bank, the University of Nottingham, and angel investors.
Promethean Particles has engineered a continuous flow manufacturing system designed to produce high-value nanomaterials at scale, including metal-organic frameworks for carbon capture applications.
Promethean Particles has secured new capital in a funding round co-led by TSP Ventures, with participation from returning backers including Foresight Group, the British Business Bank through EMEGF, the University of Nottingham, and angel investors.
The company specialises in continuous flow manufacturing technology for producing advanced nanomaterials, specifically metal-organic frameworks that capture gases such as carbon dioxide. The fresh funds will support the commercialisation of its carbon capture solutions.
TSP Ventures backed the round due to the critical role of carbon capture in meeting global emissions targets. Promethean operates under the leadership of CEO James Stephenson.
From the founder
"We are delighted to receive this new investment from TSP Ventures in addition to the continued support from Foresight, the University, the British Business Bank and some of our private individual investors. TSP joining the Promethean team with their climate-focused investment thesis is a strong endorsement for our strategic focus. We look forward to benefitting from their experience in this space as we drive towards a more energy-efficient carbon capture solution via MOFs."
James Stephenson
CEO at Promethean Particles
Investor perspective
"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."
Mike Doswell
Co-Founder, TSP Ventures
Use of funds
- 01Fund research and development
- 02Scale operations
Investors
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About the company
Promethean Particles
Promethean Particles manufactures high-value nanomaterials at scale for applications such as carbon capture.