Biotechnology company Ingenza is delighted to announce 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. This 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.
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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.”