BP is supporting another step towards advancing the commercialization of technology that captures carbon emissions by investing in UK tech firm C-Capture.
The company designs innovative chemical processes that can remove carbon dioxide emissions from power stations and industrial facilities.
BP Ventures, along with UK power plant owner Drax and tech commercialization firm IP Group, led a funding round to raise $4.6 million so that the firm can further develop its technology.
A trial of C-Capture’s technology is currently under way at Drax's power station in Yorkshire, UK. It will remove CO₂ emissions created when sustainable biomass is used to generate electricity and so, once the carbon dioxide is removed from the atmosphere and stored, could result in negative emissions, the firm says.
The C-Capture process can potentially apply to power generation from coal, gas and biomass, as well as the production of cement, steel and aluminium.
BP's investment is its second step to progress carbon capture, use and storage (CCUS) developments in the space of four months, following its support for the Clean Gas Project, announced in November.
CCUS is a key innovation that will have a vital role to play in meeting the objectives of the Paris Agreement by capturing greenhouse gases and securely storing them.
The UK Government has also granted $2.6 million in funding for C-Capture, as it looks to develop and deploy CCUS technology across the country.
C-Capture was formed in 2009 as a spin-out from Leeds University in the UK. The firm plans on rolling out larger pilot projects with the latest round of funding.