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Carbon capture startup Nuada extends Series A with £3.4m

Carbon capture startup Nuada
Image credit: Nuada

Carbon capture startup Nuada has secured a £3.4m extension to its Series A funding round from the Business Growth Fund (BGF).

Nuada, a startup that has developed a process to capture carbon emissions from cement manufacturers, recently raised £4.5m in a round led by the Clean Growth Fund and Barclays’ Sustainable Impact Capital portfolio.

“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,” said Dennis Atkinson from BGF.

Nuada is currently deploying a plant to capture carbon emissions at a construction facility in Northern Italy. The additional funding will go towards a further pilot being deployed in the UK.

“There is no net zero without carbon capture. However, incumbent solutions are notoriously costly and energy intensive,” said Dr Conor Hamill, co-chief executive officer of Nuada.

“Investment from BGF will further catalyse the scaleup and deployment of our technology, ensuring we are primed to efficiently decarbonise heavy industries.”

Fellow co-CEO Dr Jose Casaban added: “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.”

In addition to the Series A round, Nuada recently secured nearly £3m of grant money from UKRI, the government’s innovation agency.