Ingenza announced that its recent partnership with Johnson Matthey has been selected to receive vital funding of £441,632.88 from the Department of Business, Energy and Industrial Strategy as part of the £1 billion fund from the Net Zero Innovation Portfolio to slash emissions and energy costs.
Ingenza advises the project aims to develop a novel CO2 conversion technology, which will capture industrial CO2 emissions and convert them into formate, a versatile chemical that can be used across various industries, including pharmaceuticals and agriculture.
This venture will build on the success of the existing partnership between Ingenza and Johnson Matthey, bringing together the unique expertise of each team to make carbon capture technology a feasible and appealing solution for industry. As a world leader in industrial biotechnology, Ingenza will develop a bespoke engineered biocatalyst that will allow efficient hydrogenation of industrial CO2 emissions into formate. Johnson Matthey will then develop these biocatalysts into a cost competitive and scalable format for industry. This solution aims to encourage the adoption of carbon capture technologies by converting industrially emitted CO2 into a valuable and versatile commodity chemical that can be sold on for a profit, while simultaneously reducing the emissions that leak into the atmosphere.
Reuben Carr, Head of Chemical Biology at Ingenza, commented: “We are delighted to receive this funding and support from the government, which will be instrumental in our development of a carbon capture technology for the waste that industry produces. We look forward to working with Johnson Matthey to deliver on this project.”
Fraser Brown, Head of Chemistry at Ingenza, added: “This is a fantastic opportunity to work with the Johnson Matthey team again and draw on their chemical engineering expertise. Together, we will turn industrial CO2 into a platform chemical feedstock, encouraging industry everywhere to invest in sustaining the planet.”