Eversheds Sutherland Poland advised Icos Capital on its investment in Carbon Clean Solutions

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25-08-2020

Carbon Clean Solutions Ltd. (CCSL) announced the completion of a new equity investment of $22 million from a Series B investment round with Icos Capital as one of co-investors. In legal matters the fund was advised by a joint team of Polish and UK lawyers of Eversheds Sutherland led by Michał Karwacki (partner, Warsaw) and Charlotte Singh (associate, Birmingham). CCSL is a leader in low-cost carbon dioxide (CO2) capture and separation technology, based in London, UK.

Icos Capital joined Series B funding to help, inter alias, scale the CCSL CO2 capture and separation technology and expansion into Poland as a new market in Europe.

Aniruddha Sharma, CEO of CCSL, said: “While renewable energy is growing exponentially, decarbonising heavy industry will be equally or more challenging. That is exactly where our innovative and modularised technology will play a fundamental role.”

Peter van Gelderen, Partner at Icos Capital, said: “We are proud to become part of the international investor base of CCSL and to invest in and support the roll-out of its carbon capture and utilisation solution in multiple application markets. For Icos, carbon capture and utilisation is not only an urgent necessity from a climate change perspective, but it also has huge business potential now and in the near future. We are confident that the CCSL team is on the right track to capture this phenomenal opportunity.”

Icos Capital is a European wide early growth venture capital investor based out of Rotterdam. It is a collaborative venture capital firm working at the intersection of digital and sustainable industry. The Icos Capital Fund III (ICF III) plans to invest EUR 50 million in innovative scale-ups active in chemical, food and materials sectors. The fund has European corporations as anchor investors and strategic partners in Nouryon, Bühler Group and Royal Cosun. Funding also comes from Polish Public Limited Partner – PFR Ventures, which manages a fund of funds dedicated to CVC investments (PFR NCBR CVC supported by the National Centre for Research and Development).

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