Carbon capture materials company Promethean Particles has closed an £8 million funding round. Mercia Ventures and Aramco Ventures led the investment, with participation from existing investors including Midlands Engine Investment Fund I (managed by Foresight), the University of Nottingham, TSP Ventures and the East Midlands Early Growth Fund (managed by British Business Bank).
Promethean manufactures metal-organic frameworks (MOFs), a class of materials consisting of metal ions that interconnect with organic molecules to form a porous lattice-like structure.
Their unique architecture gives them an extremely high surface area and adaptable pore sizes, allowing them to trap and store gases and liquids efficiently. This makes MOFs highly effective for applications such as gas storage and separation, carbon capture and catalysis
The Nottingham-based company has developed a proprietary continuous flow reactor that not only dramatically improves the efficiency and cost of MOF production, but also increases process reliability and consistency, without sacrificing critical quality parameters. Promethean currently produces a broad MOF portfolio for various applications, including carbon capture and storage (CCS), biogas upgrading, water harvesting, and gas separation and storage.
The new investment will enable the company to build a scalable manufacturing facility, expand the team, and further implement projects that demonstrate the potential of MOFs in energy transition applications.