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- Carbon Clean Solutions
Carbon Clean Solutions Valuation, Funding & Investors
Carbon Clean Solutions is valued at $620M as of May 2022.
Last Carbon Clean Solutions valuation
$620M
Series C · May 2022
Last Carbon Clean Solutions funding round
$153M
Series C · May 2022
Cumulative funding Carbon Clean Solutions raised
$205M
across 6 funding rounds
Key investors in Carbon Clean Solutions
WAVE Equity Partners
Marubeni
Chevron Technology Ventures
Equinor Ventures
Cemex Ventures
ICOS Capital Management
About Carbon Clean Solutions
Carbon Clean Solutions is a carbon capture technology provider offering modular systems that remove up to 90% of CO2 from flue gases in power plants and industrial facilities. London-headquartered, the company deploys its CycloneCC solvent-based technology worldwide, including installations in India, the U.S., and the Middle East. Systems retrofit existing plants or integrate into new builds, using regenerable amines for energy-efficient operation. Notable deployments serve natural gas plants and steel mills, with over 20 commercial units operational. Carbon Clean partners with EPC firms for global project delivery and supplies captured CO2 for enhanced oil recovery.
Founded
2009
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Licensing
Valuation
$620M (May 2022)
Carbon Clean Solutions Valuation
Carbon Clean Solutions is currently valued at $620M, based on its Series C in May 2022.
The $153M round was led by Chevron, with participation from WAVE Equity Partners, Samsung Ventures, AXA Investment Managers, TC Energy, Marubeni and 3 other investors.
Carbon Clean Solutions valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| May 2022 | Series C | $620M |
Carbon Clean Solutions Funding History
Carbon Clean Solutions has raised a total of $205M across 6 funding rounds.
Carbon Clean Solutions' first fundraising round was a $5M Series A in October 2015. The most recent completed round was a $153M Series C in May 2022.
Carbon Clean Solutions funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| May 2022 | Series C | Chevron (lead); WAVE Equity Partners; Samsung Ventures; AXA Investment Managers; TC Energy; Marubeni; Bloomberg; Cemex Ventures; Saudi Aramco Energy Ventures | $153M | $620M | Carbon Clean Solutions is a UK-based developer of low-cost carbon capture technology focused on point-source emissions from hard-to-decarbonize industries such as cement, steel, refining, waste management, and petrochemicals. Its breakthrough modular solution, CycloneCC, is the world's smallest industrial carbon capture unit, aiming for capture costs as low as $30 per tonne of CO2. The company has deployed technology at sites like the world's largest commercially funded industrial-scale plant in Tuticorin, India, and reached 1.5 million tonnes of CO2 captured in the 12 months prior to May 2022. On May 11, 2022, Carbon Clean closed a $150 million Series C funding round, the largest ever for a point-source carbon capture company, led by Chevron Technology Ventures with participation from CEMEX Ventures, Marubeni Corporation, WAVE Equity Partners, and new investors AXA IM Alts, Samsung Ventures, Saudi Aramco Energy Ventures, and TC Energy. This brought total funding to $195 million following a $30 million Series B in August 2021 and earlier rounds including $22 million in July 2020 with Equinor and others. Funds will scale production, expand commercial deployments, and support pilots like CycloneCC testing at Chevron's San Joaquin Valley co-generation plant in California. Carbon Clean has partnerships with majors like Veolia, CEMEX, Chevron, and the UK Acorn Project for carbon capture and storage/hydrogen. It has received government support from the UK and US, and recognition as a Global Cleantech 100 three times, PwC Net Zero Future50, and CEMEX Ventures Top50. Chevron highlighted the investment as advancing lower-carbon solutions amid ambitions for 25 million tonnes annual CO2 equity storage by decade-end, positioning Carbon Clean to revolutionize industrial CCUS adoption. |
| Aug 2021 | Series B | WAVE Equity Partners; Westerly Winds; ICOS Capital Management; Equinor Ventures; Cemex Ventures | $8M | - | - |
| Jul 2020 | Series B | Equinor Ventures (lead); ICOS Capital Management (lead); WAVE Equity Partners; Chevron Technology Ventures; Marubeni | $22M | - | Carbon Clean Solutions Limited (CCSL), a UK-headquartered company, develops low-cost carbon dioxide (CO2) capture and separation technology using its patented APBS solvent-based system, which is claimed to be 40% cheaper to operate and 20% cheaper to build than industry-standard monoethanolamine systems. The technology targets carbon capture, utilisation, and storage (CCUS) projects in sectors including steel, cement, waste management, refining, and petrochemicals, with a modular 'containerised' solution aiming for $30 per tonne CO2 capture cost by 2021. CCSL had previously showcased its technology at the world's largest commercially funded industrial-scale carbon capture and utilisation plant in Tuticorin, India. In July 2020, CCSL closed a $22 million Series B funding round with new investors Equinor Ventures and ICOS Capital Management as leads, joining existing investors WAVE Equity Partners, Chevron Technology Ventures, and Marubeni, who had contributed $16 million earlier in February 2020, for a total Series B of approximately $38 million. The funds were allocated to expand the team, deploy proven CO2 capture technology across target industries, and advance the containerised solution to meet cost targets, enabling large emitters to potentially offset capture costs with carbon taxes. CEO Aniruddha Sharma highlighted the investment's alignment with net-zero goals amid pandemic recovery, emphasizing CCSL's role in decarbonizing heavy industry where renewables alone are insufficient. Investors like ICOS Capital noted the technology's climate urgency and business potential. |
| Feb 2020 | Series B | WAVE Equity Partners; Chevron Technology Ventures; Marubeni | $16M | - | Carbon Clean Solutions (CCSL) develops low-cost carbon dioxide (CO2) capture and separation technology for industrial emissions. The company completed a $16 million equity investment from WAVE Equity Partners, Chevron Technology Ventures, and Marubeni Corporation in February 2020 to deliver its existing pipeline of global projects and develop containerised solutions targeting $30/tonne CO2 capture cost by 2021. Founded in 2009, CCSL focuses on reducing carbon capture costs by more than half for hard-to-abate sectors like industry, turning CO2 into an asset for capture and reuse. The investors aim to commercialize and scale the technology globally, leveraging networks in oil and gas, trading, and private equity. CCSL had built an industrial-scale plant in India and planned collaborations with Chevron and Marubeni. |
| Aug 2017 | Seed | - | $2M | - | - |
| Oct 2015 | Series A | - | $5M | - | Carbon Clean Solutions raised $5.2 million in a Series A funding round in October 2015. The company develops low-cost carbon dioxide capture and separation technology for heavy industries including steel, cement, waste management, and refining. Earlier, it received a $6.36 million grant in September 2012 and angel funding. |
Who has invested in Carbon Clean Solutions?
13 investors have backed Carbon Clean Solutions across its funding rounds, including WAVE Equity Partners, Marubeni, Chevron Technology Ventures, Equinor Ventures, Cemex Ventures and ICOS Capital Management.
Lead investors include Chevron, Equinor Ventures and ICOS Capital Management.
Carbon Clean Solutions Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Participant | Feb 2020 | ||
| 3 | Participant | Feb 2020 | ||
| 2 | Lead | Jul 2020 | ||
| 2 | Participant | Feb 2020 | ||
| 2 | Lead | Jul 2020 | ||
| 2 | Participant | Aug 2021 | ||
| 1 | Participant | Aug 2021 | ||
| 1 | Lead | May 2022 | ||
| 1 | Participant | May 2022 | ||
| 1 | Participant | May 2022 | ||
| 1 | Participant | May 2022 | ||
This data is available for Pro users. Sign up to see all 13 Carbon Clean Solutions investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialCarbon Clean Solutions Competitors
Carbon Clean Solutions competitors include listed companies like Suzhou Thvow Technology and Array Technologies, and private ones like Asuene, Fulcrum Bioenergy, HIF Global and NEXT Renewable Fuels.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $380M | $32M | $619M | - | ||
| Private | - | - | $630M | - | ||
| Private | - | - | $603M | - | ||
| Private | - | - | $600M | - | ||
| Publicly listed | $1.3B | $34M | $650M | 1.1x | ||
| Private | - | - | $666M | - |
Carbon Clean Solutions Public Comps
Carbon Clean Solutions is still privately-owned, but its public comps include Suzhou Thvow Technology, Zhejiang Netsun, Array Technologies, JinkoSolar, CW Enerji, Chrysos Corp., NYAB, Kalyon Güneş Teknolojileri, Hansen Technologies and Ballard Power Systems.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $380M | $32M | 2.8x | - | 32.4x | - | |||
| $79M | ($2M) | 7.4x | - | (289.0x) | - | |||
| $1.3B | $34M | 1.2x | 1.1x | 47.5x | 7.5x | |||
| $9.8B | ($44M) | 0.6x | 0.6x | (139.6x) | 25.8x | |||
| $336M | $74M | 2.2x | - | 10.0x | - | |||
| $63M | $19M | 8.9x | 8.5x | 29.1x | 26.6x | |||
| $630M | $41M | 0.8x | 0.7x | 12.3x | 9.8x | |||
| - | - | - | - | - | - | |||
This data is available for Pro users. Sign up to see all Carbon Clean Solutions competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Carbon Clean Solutions
| When was Carbon Clean Solutions founded? | Carbon Clean Solutions was founded in 2009. |
| Where is Carbon Clean Solutions headquartered? | Carbon Clean Solutions is headquartered in London, United Kingdom. |
| Is Carbon Clean Solutions publicly listed? | No, Carbon Clean Solutions is a private, VC-backed company. |
| What is Carbon Clean Solutions' valuation? | Carbon Clean Solutions was last valued at $620M in its Series C in May 2022. |
| How much funding has Carbon Clean Solutions raised? | Carbon Clean Solutions has raised $205M across 6 funding rounds. |
| What was Carbon Clean Solutions' last funding round? | Carbon Clean Solutions' last funding round was a $153M Series C in May 2022, led by Chevron. |
| Who are Carbon Clean Solutions' investors? | Carbon Clean Solutions' investors include WAVE Equity Partners, Marubeni, ICOS Capital Management, Chevron Technology Ventures, Equinor Ventures, Cemex Ventures, Westerly Winds, Chevron, Samsung Ventures, AXA Investment Managers and 3 others. |
| Which companies are comparable to Carbon Clean Solutions? | Companies comparable to Carbon Clean Solutions include Suzhou Thvow Technology, Asuene, Fulcrum Bioenergy, HIF Global, Array Technologies and NEXT Renewable Fuels. |
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