UCL spinout helps heavy industry get closer to net zero target

The new technology is based on sustainability research from UCL and Cambridge University academics. It could help the cement industry, and other energy-intensive businesses, reduce their CO2 emissions by 20%.

The Clean Growth Fund has co-led a £1 million investment in Carbon Re, alongside the UCL Technology Fund and UCL Business (UCLB)’s Portico Ventures, the University of Cambridge Enterprise Fund (co-managed by Parkwalk Advisors), and Blue Impact Ventures (founded by Tier CEO, Lawrence Leuschner).

The investment will commercialise Carbon Re’s work, which originally started at UCL’s Energy Institute and the University of Cambridge’s Institute for Manufacturing. 

UCLB, part of UCL Innovation & Enterprise, is UCL’s commercialisation company. Its track record of success includes over £1.5 billion raised in investment for UCL spinouts. The UCL Technology Fund is managed by AlbionVC in collaboration with UCLB.

Professor David Price, Vice-Provost (Research, Innovation & Global Engagement) at UCL, said: “We’re delighted to be a part of creating Carbon Re and to support them in their mission to help heavy industry reduce its emissions and get closer to the target of net zero.

“The use of AI, alongside industrial sustainability expertise from UCL academics has the potential to help change the way industries are run and protect the planet in the long-term.”

Read the full story on the UCL News website.

Links

Find out more about:

• UCL Innovation & Enterprise support for staff
• UCL Business
• UCL Technology Fund
• Carbon Re
• Clean Growth Fund
• Cambridge Enterprise

Photo © Carbon Re