Southampton’s ViridiCO2 raises £3m in seed funding round

By Sam Pither

9 March 2023

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ViridiCO2, a Southampton-based firm aiming to decarbonise the chemical industry, has raised £3 million in a recently closed seed funding round.

The University of Southampton spinout develops carbon capture technology for the foundation, formulation and chemicals industries, taking and storing CO2 emissions and repurposing it into chemical products such as surfactants.

Co-Founder and CEO, Daniel Stewart said: “In the face of climate change, businesses have realised that sustainability is the fulcrum of their corporate strategy.

“Rather than an add-on – our technology truly helps these heavy emitting manufacturers transition towards a circular economy, reduce scope 1, 2 & 3 emissions and enable the first ‘carbon-positive plastics’ to hit the market.”

Ali Mitchell, a partner at EQT Ventures which led the seed round, said: “We look to back generation-defining companies and ViridCO2 is definitely one that has the potential to accelerate the energy transition of a whole industry.

“The tech enables the chemical industry to cut the use of petrochemicals – with a path to removing this feedstock completely – and reduce CO2 emissions which is crucial to limit global warming to below 2 degrees Celsius, to save our planet from a climate catastrophe.”

By Sam Pither

Sam is the Regional Editor of Biz News, responsible for both Hampshire and Dorset.

A new recruit to journalism, Sam started writing for the Business Magazine as a freelancer in May of 2022 after completing his degree in English at University College London. His passion for local businesses and ability to tell a story soon caught the attention of the publication’s management team and have led to his meteoric rise.

Sam, who lives in central Reading, takes a particular interest in technology, gaming and food and drink, having been a chef before starting his degree.