BGF, a prominent growth capital investor in the UK and Ireland, has infused £3.4 million into Nuada, a UK-based company revolutionising carbon dioxide capture from foundational and hard-to-abate industries.
Nuada’s cutting-edge ‘heatless’ capture technology removes barriers related to energy intensity and cost, facilitating efficient and cost-effective decarbonisation for industrial emitters.
The company collaborates with leading cement manufacturers like Buzzi Unicem, Heidelberg Materials, and Cementir Holding. It is currently deploying a groundbreaking plant at Buzzi Unicem’s facility in Northern Italy. With BGF’s funding, Nuada plans to construct an additional pilot plant at a UK energy-from-waste facility, showcasing the versatility of their award-winning technology.
This investment expands on Nuada’s £4.5 million Series A round, co-led by the Clean Growth Fund and Barclays’ Sustainable Impact Capital portfolio. Additionally, the company secured nearly £3 million in grant-funded projects from UKRI and the Department of Energy Security and Net Zero (DESNZ).
Dr Conor Hamill, co-Chief Executive Officer of Nuada, said: “There is no Net Zero without carbon capture. However, incumbent solutions are notoriously costly and energy intensive. Investment from BGF will further catalyse the scale-up and deployment of our technology, ensuring we are primed to efficiently decarbonise heavy industries.
Dr Jose Casaban, co-Chief Executive Officer of Nuada, said: “We look forward to working with BGF and drawing on their expertise in climate tech to make carbon capture more accessible and affordable for businesses and governments around the world.”
Dennis Atkinson / Rowan Bird from BGF, said: “We are delighted to announce this investment in Nuada, a company that can play a significant role in the transition to a net zero carbon future using advanced technology.
“We are excited by the fact that the company’s technology is already being deployed by industry leaders in the cement sector and note that it is also applicable to other industries. We welcomed the opportunity to invest in and support a disruptive business that will make a meaningful contribution towards achieving net zero.”
