MOF Technologies secures EUR 5 million investment in carbon capture technology
MOF Technologies is extremely proud to announce that through Barclays and the Clean Growth Fund, we have secured a EUR 5 million investment in our Nuada carbon capture technology.
With the backing of both funders, MOF Technologies is now able to begin the much-needed decarbonisation of these heavy industries. Our bespoke MOF filtration system is specifically designed to target CO2 and as a result, has one of the highest known capacities for the gas. More importantly, Nuada uses 80% less energy than any traditional CO₂ capture technologies currently available.
With hard-to-abate industries accounting for 30% of our global CO2 emissions, our ultra-energy efficient carbon capture technology will allow for the mass adoption of carbon capture in industries such as cement and steel manufacturing as well as energy-to-waste plants, to name but a few. In May 2022, as part of the GCCA’s pledge to carbon-neutral cement by 2050, MOF Technologies formed partnerships with Heidelberg Cement, Buzzi Unicem and Cementir Holdings to improve deep decarbonisation within the cement industry.
This investment will accelerate our ambitions as a solution provider for carbon capture, allowing us to scale Nuada, providing a commercially viable path for heavy polluting industries to meet their Net Zero targets.
“I’m delighted that Clean Growth Fund and Barclays have chosen to invest in our company” said MOF Technologies, Co-CEO, Dr. Conor Hamill. “The willingness of these two leading funders in cleantech reinforces our own confidence in our work and gives us scope to expand our operations in Belfast and secure new business opportunities. With our cost-competitive end of pipe system, we can make commercial carbon capture a reality and a key part of the climate solution.”
Dr Jose Casaban, MOF Technologies, Co-CEO, said “We are thrilled to work with Clean Growth Fund and Barclays to accelerate the roll out of our unique MOF-based CO₂ capture technology to deliver against the pressing demand from heavy industries to meet their Net Zero targets.”
Through the commercialisation support offered by both Barclays and the Clean Growth Fund, MOF Technologies look forward to rolling out our Nuada carbon capture technology, delivering a sustainable solution to help meet our global Net Zero targets and ensuring a safe and greener future for all in the years to come.