Melbourne Decarbonisation Startup Captures $10 Million Raise

KC8 Capture Technologies, founded in 2021, was backed by local energy giant Woodside, and the VC arm of Mexican cement producer Cemex, among others.

The funding is earmarked for team expansion and deploying the technology in sectors such as construction, steel, energy and chemical production.

While carbon capture has its doubters as a solution to emissions reduction, KC8 claims its technology can capture up to 95% of CO2 emissions from heavy industrial sources at a 50% lower than existing acid gas removal methods, using 15% less energy.

KC8 has developed a non-toxic solvent to treat low pressure, high volumes exhaust gases at lower cost. The solution is currently going into a commercial demonstration phase in both cement kiln flue gas and gas turbine flue gas.

The Melbourne-based startup has offices Perth and the US.

In Australia, KC8 is working with Cement Australia to build a commercial demonstration plant in Gladstone, Queensland, and will work with Cemex in Mexico at cement plants, hoping to capture more than 100 tons per day (TPD) of CO2. A US project with the Department of Energy’s National Carbon Capture Center is also underway.

Woodside VP of carbon solutions Jayne Baird said KC8 technology has the potential to help in reducing the company’s carbon emissions.

“As a global energy company, we understand the need to innovate and develop efficient and cost-effective ways to produce safe, lower carbon, affordable and reliable energy through the energy transition,” said Baird.

“We want to ensure we enable the technological innovation required to do this.”

KC8 Capture Technologies director Greg Ross said: “Our mission is to provide the most sustainable, cost-effective solution for large scale abatement — particularly for industries that don’t currently have a clear pathway to emission reduction.”

This article originally appeared in The Startup Daily - https://www.startupdaily.net/topic/funding/decarbonisation-startup-captures-10-million-raise/