On October 20, 2021 Carbon Re, a spinout based on innovative research from UCL and Cambridge University, reported that it has secured £1m funding to accelerate its AI technology which could help the global cement industry and energy-intensive industries to reach Net Zero targets (Press release, UCLB, OCT 20, 2021, https://www.uclb.com/2021/10/20/portico-ventures-spinout-carbon-re-secures-1m-investment/ [SID1234591638]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

Investment was secured from the Clean Growth Fund, alongside the UCL Technology Fund (managed by Albion VC in collaboration with UCL Business), the University of Cambridge Enterprise Fund (co-managed by Parkwalk Advisors), and Blue Impact Ventures (founded by Tier CEO, Lawrence Leuschner).

The company’s cloud-based platform, Delta Zero, utilises powerful AI tools to achieve operational efficiencies in energy-intensive industries, such as cement production, reducing operational costs and carbon emissions to otherwise unachievable levels. Delta Zero enables immediate reductions in energy consumption, cost and carbon emissions, with no capital expenditure.

Carbon Re was supported through UCLB’s Portico Ventures commercialisation route, which helps researchers to set up businesses that can thrive in a fast-moving ecosystem. The spinout combines world-class deep reinforcement learning, a field of artificial intelligence best suited to managing complex decision-making, and industrial sustainability expertise from academics at the two universities.