Carbon Clean Solutions

UK-based Carbon Clean Solutions (CCS) provides modularized carbon capture solutions for a variety of industries including steel, cement, refinery, waste to energy, and biogas. As of November 2021, CCS had 45+ carbon capture projects around the world, including in the US, Europe, India, and Indonesia. CCS has captured more than one million metric tons of carbon dioxide (CO2) since its inception in 2009. 

CCS claims that its next-generation proprietary CCUS technology has a carbon capture rate of over 90%. CCS’s modularized and containerized carbon capture solution is reported to be around 10x smaller and around 50% cheaper than traditional open-plant designs. CCS’s cost of capture as of November 2021 is estimated to be around USD 40 per metric ton of carbon dioxide. The company expects the cost of capture to further reduce to USD 30 per metric ton in 2022. 

In July 2022, CCS partnered with Kellogg Brown and Root (KBR), an NYSE-listed engineering solutions company, to collaborate on a front-end engineering design (FEED) contract. The project is planned to be deployed at CEMEX’s (a Mexican supplier of building materials) Rudersdorf cement plant in Germany.

The company’s most recent funding was in May 2022, when it raised USD 135 million in a Series C funding round led by Chevron. In August 2021, CCS raised USD 8 million as the third tranche of its Series B funding round from CEMEX and existing investors WAVE Equity Partners, ICOS Capital, and Equinor Ventures. The first tranche of the Series B round of USD 16 million was raised in February 2020, followed by the second tranche of USD 6 million in February 2020. Total funds raised in the Series B round were USD 30 million with the latest round. The funds were to be used to grow its team and expand services to help achieve CCS’s cost target of USD 30 per metric ton.