A Scottish company that turns carbon dioxide into dry ice that can be used in industry has hailed a major deal with a specialist investment manager.
Carbon Capture Scotland Limited (CCSL) is to capture and re-use green CO2 from London-based Iona Capital’s biomethane plants across the UK.
Green biogenic CO2 is to be captured and re-used as dry ice, a vital product in the food, cold logistics and pharmaceutical industries.
It is claimed it will help these industries reach net zero.
CCSL has signed an agreement with Iona Capital, a UK low carbon investment fund manager, to capture and reuse green carbon dioxide from Iona’s biomethane plants located across the UK.
READ MORE: 500 jobs to be created by carbon capture dry ice firm in £120m push
The agreement between Iona and CCSL is an extension of their existing partnership at Iona’s Crofthead Anaerobic Digestion and biogas plant in Dumfries, which is claimed to be “the first and only biomethane facility in Scotland to operate with carbon capture”.
At its adjacent site to the Crofthead plant, CCSL takes the CO2 from Crofthead to make dry ice for commercial use.
The two companies plan to extend their agreement to any future plants that Iona may develop in the UK, Europe and North America.
Alex Todhunter, investment manager at Iona Capital, said: “This partnership with CCSL offers the food, cold logistics and pharmaceutical industries a 'green' dry ice that will help towards their Net Zero and sustainability goals.
“The utilisation of CO2 generated from farm waste and crops is yet another demonstration of how anaerobic digestion contributes to a sustainable low carbon future and the circular economy.”
READ MORE: Scotland should become 'carbon capture hub'
Richard Nimmons, director of CCSL, said it partnership with Iona “will accelerate our business growth in our home market of Scotland and further afield”.
He also said: “Importantly, it represents a scalable framework for clear, measurable carbon removal that brings us closer to our goal of removing one million tons of CO2 from the atmosphere per year.”
CO2 is an essential compound used in the food, cold logistics and pharmaceutical industries and is most commonly produced as a by-product during ammonia production, with around 80% of the ammonia produced by industry is used in agriculture as fertiliser.
Ammonia production is an energy and carbon intensive process, taking up nearly 2% of annual global energy production, while it is claimed 100% biogenic green CO2 from farm wastes and crops, using renewable electricity, provides a low energy green alternative.
Iona is a leading specialist investment manager with a focus on investing in long term projects in the renewable and low carbon energy infrastructure sectors. Iona manages four funds and has invested in 24 projects to date. It also has an experienced team of renewable energy, waste industry and private equity specialists.
READ MORE: Dry ice brothers secure funding to help overcome Britain's CO2 challenges
It is part of a wider push unveiled by CCSL last year that will benefit the environment and create hundreds of jobs in coming years.
It said its Project Nexus, a carbon removal initiative which it claims will remove one million tons of CO2 from the atmosphere per year, would generate up to 500 jobs in rural Scotland by 2030.
Brothers Richard and Ed Nimmons said then that their focus is on capturing biogenic CO2 emissions – CO2 that is produced via organic processes such as whisky fermentation, anaerobic digestion and biomass incineration – and transporting to sequestration sites where the CO2 is permanently removed.
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