Carbon Re, a spinout from UCL and Cambridge University, has secured £1m of funding to progress its AI technology which helps energy-intensive industries operate more efficiently, and reach Net Zero targets.
The £1m investment has been secured from the Clean Growth Fund, alongside UCL Technology Fund (managed by Albion VC in collaboration with UCL Business Ltd), the University of Cambridge Enterprise Fund (co-managed by Parkwalk Advisors), and Blue Impact Ventures (founded by Tier CEO, Lawrence Leuschner).
Carbon Re utilises AI technology to assess a customer’s manufacturing data, and then help them to become more operationally efficient. As a result, customers can reduce operational costs and carbon emissions to otherwise unachievable levels.
The technology is used within energy-intensive industries, such as cement production, and Carbon Re is currently running pilot projects at cement plants in the EU, Turkey, thailand and Vietnam.
Read the full story from Carbon Re.
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