Portico Ventures spinout, Carbon Re, secures £1m investment
Carbon Re, a spinout based on innovative research from UCL and Cambridge University, has secured £1m funding to accelerate its AI technology which could help the global cement industry and energy-intensive industries to reach Net Zero targets.
Investment was secured from the Clean Growth Fund, alongside the UCL Technology Fund (managed by Albion VC in collaboration with UCL Business), the University of Cambridge Enterprise Fund (co-managed by Parkwalk Advisors), and Blue Impact Ventures (founded by Tier CEO, Lawrence Leuschner).
The company’s cloud-based platform, Delta Zero, utilises powerful AI tools to achieve operational efficiencies in energy-intensive industries, such as cement production, reducing operational costs and carbon emissions to otherwise unachievable levels. Delta Zero enables immediate reductions in energy consumption, cost and carbon emissions, with no capital expenditure.
Carbon Re was supported through UCLB’s Portico Ventures commercialisation route, which helps researchers to set up businesses that can thrive in a fast-moving ecosystem. The spinout combines world-class deep reinforcement learning, a field of artificial intelligence best suited to managing complex decision-making, and industrial sustainability expertise from academics at the two universities.