Freeths advise Carbon8 on Series A Investment from Vicat and EDF Group

Freeths Corporate team has advised Carbon8 on its £5m Series A investment led by the French multinational companies Vicat Group and EDF Group, and its venture capital arm, EDF Pulse Ventures.

Carbon8, the UK-based clean technology company specialising in carbon capture, utilisation and storage (CCUS), have a patented an award-winning technology that enables heavy industry to achieve its goals of zero landfill and Net Zero emissions ambitions.Carbon8's patented ACT (Accelerated Carbonation Technology) process combines industrial residues with captured CO₂ emissions to produce high-value minerals.  Through the deployment of its innovative CO₂ntainer, Carbon8's process becomes a Plug 'n Play solution, which is scalable and modular. The CO₂ntainer can be deployed directly to an industrial site, capturing carbon from the point source and permanently storing it in the output materials of the ACT process.Vicat Group, the international cement company, was Carbon8's first commercial strategic customer in 2020 when a CO₂ntainer was deployed at Vicat's Montalieu-Vercieu cement plant, near Lyon in France. For EDF Pulse Ventures, the solution developed by Carbon8 enables EDF Group to support its industrial customers in their decarbonization strategy with a “CO₂ as a service” offer, finding new outlets for their residues.The Freeths team led by Tom Brown and Mohammed Abbas, together with support from Baljit Atwal, Alex Angelides and Freeths' wider market-leading multi-disciplinary teams provided strategic legal advice to Carbon8 to help it progress the Series A investment.John Pilkington, Chief Executive Officer of Carbon8, said: “Freeths' advice and support in our fundraising process was incredibly helpful, especially as it was a cross-border transaction.  The investment made by Vicat and EDF places Carbon8 in a strong position to grow our business activities in the UK and in global markets.  We have been delighted in the commercial interest in our carbon capture technology since the investment was announced.”Tom Brown, Corporate Partner at Freeths, added, “We'd like to congratulate Carbon8, its talented management team and all other shareholders on the Series A investment from Vicat and EDF. Having been a trusted legal advisor to Carbon8 for a number of years, this investment represents an important milestone in our journey with Carbon8. We look forward to seeing the accelerated growth of Carbon8 following this Series A investment and continuing to support Carbon8 in this next phase.”