Parallel Carbon Limited
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Parallel Carbon Limited - overview
Established
2021
Location
Essex, -, UK
Primary Industry
Renewable Energy
About
Based in Essex, UK, and founded in 2021 by CEO Ryan Anderson, Parallel Carbon Limited, a. k. a. Parallel Carbon, is a clean technology company that focuses on providing carbon capture technology for direct air carbon dioxide capture and hydrogen production through water electrolysis.
In January 2024, Parallel Carbon Limited raised USD 3. 6 million in seed funding led by Aramco Ventures, with participation from AXON Partners, DNX Ventures, Voyagers Capital, and Rumbo Newspapers. The company's process includes pulling carbon dioxide from the atmosphere while utilizing renewable energy for clean hydrogen production. Parallel Carbon’s system integrates water electrolysis and direct air capture (DAC) to reduce capital costs and better utilize low-cost renewable energy.
The company plans to use its proceeds from January 2023 funding to scale its team and technology and begin delivering carbon dioxide removal (CDR) credits to customers.
Current Investors
AXON Partners, Rumbo Newspapers, DNX Ventures
Primary Industry
Renewable Energy
Sub Industries
Renewable Energy
Website
www.parallelcarbon.com
Verticals
Clean Technology, Manufacturing
Company Stage
Angel & Seed
Total Amount Raised
Subscriber access only
Parallel Carbon Limited - financials
| Fiscal Year Ended | Jul 31, 2023 |
|---|---|
| Revenue (USD) | - |
| % Revenue Growth (YoY) | - |
| EBITDA (USD) | - |
| Operating Income (USD) | - |
| Operating Margin | - |
| % EBITDA Margin | - |
| NET Income (USD) | - |
| % Net Margin | - |
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