Carbon Clean Solutions Ltd (CCSL), which develops carbon dioxide (CO2) separation technology for industrial and gas treating applications, has secured an equity investment of $16 million from US-based WAVE Equity Partners, Chevron Technology Ventures, and Japan’s Marubeni Corporation, it announced on Monday.
The company will use the funds to deliver an existing pipeline of global projects to lower emissions from industry. CCSL will also invest in the development of ‘containerise’ solutions to bring down the cost of CO2 capture to $30 per tonne by by 2021, it said in a statement.
UK-headquartered CCSL develops affordable carbon capture technology for utilisation and storage, as used by steel, cement, refining & petrochemicals and waste incineration plants. The company operates an industrial-scale carbon capture and utilisation plant in Tuticorin, India.
INDIA DEAL MONITOR
Here are some prominent venture capital transactions in India from February 14-February 17.
