Capital investor BGF is backing a Northern Ireland business innovating in the field of next-generation carbon capture to help firms meet global climate goals.

Belfast-based Nuada is set to benefit from £3.4m in support from BGF, an investor in the UK and Ireland.

Formerly known as MOF Technologies, Nuada is aiming to redefine the capture of carbon dioxide from foundational and hard-to-abate industries. It builds energy-efficient filtration machines that capture CO2 from industrial off-gases.

Its next generation ‘heatless’ capture technology removes deployment barriers such as energy intensity and cost, enabling industrial emitters to decarbonise their operations efficiently and economically.

Nuada is working with cement manufacturers Heidelberg Materials, Cementir Holding and Buzzi Unicem, including deployment of a first-of-a-kind plant at Buzzi’s Monselice plant in northern Italy.

The BGF funding will support construction of an additional pilot plant at an energy-from-waste facility in the UK.

Nuada has previously benefitted from a £4.5m Series A round co-led by the Clean Growth Fund and Barclays’ Sustainable Impact Capital portfolio, and recently secured close to £3m in grant-funded projects from UKRI and the Department of Energy Security and Net Zero.

Dr Conor Hamill, co-chief executive officer of Nuada, said: “There is no net zero without carbon capture. However, incumbent solutions are notoriously costly and energy intensive.

“Investment from BGF will further catalyse the scale-up and deployment of our technology, ensuring we are primed to efficiently decarbonise heavy industries.”

Dr Jose Casaban, co-chief executive officer of Nuada, said: “We look forward to working with BGF and drawing on their expertise in climate tech to make carbon capture more accessible and affordable for businesses and governments around the world.”

Dennis Atkinson and Rowan Bird from BGF said: “We are delighted to announce this investment in Nuada, a company that can play a significant role in the transition to a net zero carbon future using advanced technology.

“We are excited by the fact that the company’s technology is already being deployed by industry leaders in the cement sector and note that it is also applicable to other industries.

“We welcomed the opportunity to invest in and support a disruptive business that will make a meaningful contribution towards achieving net zero.”

BGF was set up in 2011 and has since invested £3.5bn in more than 500 companies, including around £70m into Northern Irish businesses, making it one of the most significant investors in the region.

Reporting:www.belfasttelegraph.co.uk