🏆 Deal of the Week · CW 19/2022
Carbon Clean raised GBP 121 million in a Series C round; no valuation was disclosed. The round was backed by eight investors spanning energy majors, industrial corporates, and specialist climate funds. This financing closed in May 2022 and was recognised as Venionaire DealMatrix Deal of the Week for KW 19/2022.
Carbon Clean — key deal facts
| Company | Carbon Clean |
| Founded | 2009 |
| Headquarters | London, United Kingdom |
| Amount raised | GBP 121M |
| Valuation | Valuation Remains Undisclosed |
| Round | Series C |
| Investors | AXA Investment Managers (https://www.axa-im.com/) Cemex Ventures (https://www.cemexventures.com/) Chevron (https://www.chevron.com/) Marubeni (https://www.marubeni.com/en/) Samsung Ventures (https://www.samsungventure.co.kr/english/jsp/investment/sector.jsp) Saudi Aramco Energy Ventures (https://aramcoventures.com/) TC Energy (https://www.tcenergy.com/) WAVE Equity Partners (https://waveep.com/) |
| Sectors | CleanTech |
Who invested in Carbon Clean?
The round drew capital from AXA Investment Managers, Cemex Ventures, Chevron, Marubeni, Samsung Ventures, Saudi Aramco Energy Ventures, TC Energy, and WAVE Equity Partners. The investor mix is strategically notable: it combines institutional asset managers with direct strategic stakes from oil and gas majors, a cement-sector corporate venture arm, and an Asian industrial conglomerate, all of whom represent potential end-customers or deployment partners for Carbon Clean's technology. This breadth of industrial backing signals strong commercial validation across the hard-to-abate sectors the company targets.
What does Carbon Clean do?
Carbon Clean, founded in 2009 by CEO Aniruddha Sharma, develops point-source carbon capture solutions for hard-to-abate industries including steel, cement, and oil and gas. Its flagship product is the CycloneCC C1 series, a columnless modular unit designed to capture up to 100,000 tonnes of CO₂ per year while reducing the physical footprint and capital cost associated with conventional carbon capture plant. The company is headquartered in London, United Kingdom. Its modular architecture is intended to accelerate deployment at industrial sites where large-scale, custom-built capture infrastructure is impractical.
Carbon Clean valuation & multiples
No existing multiples analysis was provided for this deal. Because Carbon Clean operates in the CleanTech carbon capture segment, relevant valuation benchmarks are typically drawn from clean energy technology and industrial decarbonisation comparables. For current EV/Sales and EV/EBITDA reference ranges applicable to this sector, visit the Venionaire DealMatrix CleanTech sector multiples pages.
Explore the benchmarks: Series C CleanTech.
Frequently asked questions
How much did Carbon Clean raise in its Series C?
Carbon Clean raised GBP 121 million in its Series C round, closed in May 2022.
What is Carbon Clean's valuation?
Carbon Clean's valuation was not disclosed in connection with this Series C round.
Who invested in Carbon Clean?
The Series C investors were AXA Investment Managers, Cemex Ventures, Chevron, Marubeni, Samsung Ventures, Saudi Aramco Energy Ventures, TC Energy, and WAVE Equity Partners.
When was Carbon Clean founded and where is it based?
Carbon Clean was founded in 2009 and is headquartered in London, United Kingdom.
Source: original announcement — read the full report.