ViridiCO2 raises £3m in a seed round led by EQT Ventures to advance its carbon utilisation technology.
The Stockholm-founded investor led the financing to help accelerate commercialisation of the firm's carbon capture technology.
ViridiCO2 develops carbon capture and utilisation technology that converts waste carbon dioxide into valuable chemical products.
ViridiCO2 has secured £3m in a seed funding round led by EQT Ventures to accelerate the commercialisation of its carbon capture and utilisation technology. The capital will help the company expand deployment of its solid catalyst systems, which enable chemical manufacturers to substitute petrochemicals with waste carbon dioxide.
Since its spin-out from the University of Southampton in 2021, the firm has advanced its platform using angel investment and grants from Innovate UK. The technology captures industrial flue gas emissions to produce circular feedstocks for consumer goods such as detergents, offering heavy industry a pathway to lower scope emissions and establish circular supply chains.
From the founder
"The foundation, formulation, and chemicals industries are some of the world's greatest polluters and many have aimed to reach carbon neutrality by 2050. ViridiCO2 is focused on assisting the chemicals industry to decarbonise by putting the 7 billion tonnes of industry waste CO2 to good use, creating sustainable products, and a new income source."
Daniel Stewart
Co-Founder and CEO at ViridiCO2
Use of funds
- 01Continue product development
- 02Expand into international markets