No Result
View All Result
  • Private Data
  • Membership options
  • Login
  • COUNTRY
    • ITALY
    • IBERIA
    • FRANCE
    • UK&IRELAND
    • BENELUX
    • DACH
    • SCANDINAVIA&BALTICS
  • PRIVATE EQUITY
  • VENTURE CAPITAL
  • PRIVATE DEBT
  • DISTRESSED ASSETS
  • REAL ESTATE
  • FINTECH
  • GREEN
  • PREMIUM
    • ItaHubHOT
      • ItaHub Legal
      • ItaHub Tax
      • ItaHub Trend
    • REPORT
    • INSIGHT VIEW
    • Private Data
Subscribe
  • COUNTRY
    • ITALY
    • IBERIA
    • FRANCE
    • UK&IRELAND
    • BENELUX
    • DACH
    • SCANDINAVIA&BALTICS
  • PRIVATE EQUITY
  • VENTURE CAPITAL
  • PRIVATE DEBT
  • DISTRESSED ASSETS
  • REAL ESTATE
  • FINTECH
  • GREEN
  • PREMIUM
    • ItaHubHOT
      • ItaHub Legal
      • ItaHub Tax
      • ItaHub Trend
    • REPORT
    • INSIGHT VIEW
    • Private Data
Home GREEN

British recycling startup PeroCycle opens €4.5 million round to decarbonise steelmaking

EU Startupsby EU Startups
August 7, 2025
Reading Time: 3 mins read
in GREEN, UK&IRELAND, VENTURE CAPITAL
Share on FacebookShare on Twitter

Cambridge-based PeroCycle, an industrial decarbonisation startup advancing closed-loop carbon recycling for steelmaking, has opened a €4.5 million Seed to fund pilot deployment and accelerate commercial growth.

Investors include Cambridge Future Tech and Anglo American.

“PeroCycle can reshape one of the world’s most emissions-intensive sectors. Its technology stands out for its ability to cut carbon emissions from existing steelmaking infrastructure – a rare combination. I’m thrilled to join at this pivotal stage,” said CEO Grant Budge.

Founded in 2024, PeroCycle is an industrial decarbonisation company transforming how heavy industries manage carbon emissions. By converting carbon dioxide into carbon monoxide during production, PeroCycle enables a circular carbon pathway that allegedly reduces reliance on fossil feedstocks.

Using a perovskite-based catalyst and proprietary process and reactor system, it converts carbon dioxide into carbon monoxide, providing a closed-carbon-loop approach to deep decarbonisation within the steelmaking process.

PeroCycle is built on research by Professor Yulong Ding and Dr Harriet Kildahl. The company was spun out by the University of Birmingham and Cambridge Future Tech, a DeepTech venture builder and early investor, in collaboration with Anglo American to commercialise its novel carbon recycling technology.

This announcement coincides with the appointment of Grant Budge as CEO. Grant brings 30 years of experience leading carbon capture projects and advising on decarbonisation across energy and heavy industry. He has raised public and private funding and led delivery of large-scale CCS infrastructure. His appointment signals a new phase of commercial growth for PeroCycle as it advances towards pilot-scale deployment.

“Recycling carbon dioxide within steelmaking infrastructure presents a scalable pathway to deep decarbonisation in one of the world’s most hard-to-abate sectors,” said Professor Yulong Ding, founding Chamberlain Chair of Chemical Engineering at the University of Birmingham. “Advancing this technology to industrial deployment requires the right leadership and investment and this next stage puts both in place.”

The steel industry is responsible for around 8% of global CO₂ emissions, with more than 3 gigatonnes produced annually.  In the UK, the sector is grappling with rising costs and industrial restructuring, while across Europe, steelmakers face mounting emissions pressure.

Carbon recycling technologies like PeroCycle offer a route to low-carbon, commercially viable steel production – particularly as the Carbon Border Adjustment Mechanism (CBAM) begins to reshape international competitiveness.

The Seed round will support the development of PeroCycle’s first pilot unit, with a targeted capacity of 1 kilotonne of CO₂ processed per year. With the funding, the company will also expand its technical and commercial team.

“This is a major step forward for PeroCycle’s mission to decarbonise steel from within,” said Owen Thompson, CEO and Co-founder of Cambridge Future Tech. “From Co-founding and building the company to now investing in this round, we’ve supported its journey from the very beginning. With Grant’s leadership and the momentum of this raise, PeroCycle is well-positioned to deliver real-world industrial impact.”

By enabling in-process carbon recycling at blast furnace-compatible temperatures, PeroCycle’s technology offers a “practical route” to decarbonisation, addressing a key need in a sector where each tonne of crude steel can emit around 2 tonnes of CO₂.

With emissions from steelmaking needing to fall within the next decade to align with net-zero pathways, scalable industrial solutions like PeroCycle’s could be critical to the global climate response.

“Anglo American is committed to working with like-minded partners to make meaningful steps toward lower-emission steelmaking. Our investment in PeroCycle reflects our belief in the potential of carbon recycling for this purpose. We look forward to seeing this next phase of development bring the technology closer to industrial application,” said Matt Walker, CEO of Anglo American’s Marketing business.

Read the orginal article: https://www.eu-startups.com/2025/08/british-recycling-startup-perocycle-opens-e4-5-million-round-to-decarbonise-steelmaking/

Gateways to Italy

Gateways to Italy – Offer your services to funds and investors willing to explore opportunities in Italy. Become a partner!

Gateways to Italy – Offer your services to funds and investors willing to explore opportunities in Italy. Become a partner!

by Partner
June 6, 2023

Sign up to our newsletter

SIGN UP

Related Posts

GREEN

Apatura set to develop data center campus outside Falkirk, Scotland

August 8, 2025
BENELUX

Dutch drone maker Destinus to acquire AI pilot startup for $225m

August 8, 2025
BENELUX

Dutch Freelance Management System Bubty joins Upwork’s enterprise arm to shape the future of contingent work

August 8, 2025

ItaHub

Crypto-assets supervision rules in Italy, Banca d’Italia will supervise payment systems and Consob on market abuse

Crypto-assets supervision rules in Italy, Banca d’Italia will supervise payment systems and Consob on market abuse

November 4, 2024
Italy’s SMEs export toward 260 bn euros in 2025

Italy’s SMEs export toward 260 bn euros in 2025

September 9, 2024
With two months to go before the NPL Directive, in Italy the securitization rebus is still to be unraveled

With two months to go before the NPL Directive, in Italy the securitization rebus is still to be unraveled

April 23, 2024
EU’s AI Act, like previous rules on technology,  looks more defensive than investment-oriented

EU’s AI Act, like previous rules on technology, looks more defensive than investment-oriented

January 9, 2024

Co-sponsor

Premium

AlixPartners: Automotive, retail and manufacturing sectors may go through restructuring in 2025

AlixPartners: Automotive, retail and manufacturing sectors may go through restructuring in 2025

July 11, 2025
Funds vying for management consulting firm BIP, a CVC portfolio company. All deals in the sector

Funds vying for management consulting firm BIP, a CVC portfolio company. All deals in the sector

March 6, 2025
Private equity, Italy 2024 closes with 588 deals as for investments and divestments from 549 in 2023. Here is the new BeBeez’s report

Private equity, Italy 2024 closes with 588 deals as for investments and divestments from 549 in 2023. Here is the new BeBeez’s report

February 10, 2025
Crypto-assets supervision rules in Italy, Banca d’Italia will supervise payment systems and Consob on market abuse

Crypto-assets supervision rules in Italy, Banca d’Italia will supervise payment systems and Consob on market abuse

November 4, 2024
Next Post

Europe doesn’t have a startup problem, it has a storytelling problem

Contentsquare, a Paris-based scaleup, acquires Loris.AI, a conversational AI giant

Contentsquare, a Paris-based scaleup, acquires Loris.AI, a conversational AI giant

EdiBeez srl

C.so Italia 22 - 20122 - Milano
C.F. | P.IVA 09375120962
Aut. Trib. Milano n. 102
del 3 aprile 2013

COUNTRY

Italy
Iberia
France
UK&Ireland
Benelux
DACH
Scandinavia&Baltics

CATEGORY

Private Equity
Venture Capital
Private Debt
Distressed Assets
Real Estate
Fintech
Green

PREMIUM

ItaHUB
Legal
Tax
Trend
Report
Insight view

WHO WE ARE

About Us
Media Partnerships
Contact

INFORMATION

Privacy Policy
Terms&Conditions
Cookie Police

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • COUNTRY
    • ITALY
    • IBERIA
    • FRANCE
    • UK&IRELAND
    • BENELUX
    • DACH
    • SCANDINAVIA&BALTICS
  • PRIVATE EQUITY
  • VENTURE CAPITAL
  • PRIVATE DEBT
  • DISTRESSED ASSETS
  • REAL ESTATE
  • FINTECH
  • GREEN
  • PREMIUM
    • ItaHub
      • ItaHub Legal
      • ItaHub Tax
      • ItaHub Trend
    • REPORT
    • INSIGHT VIEW
    • Private Data
Subscribe
  • Login
  • Cart