MOF Technologies Raises £4.4 Million
MOF Technologies, based in Belfast, has raised £4.4 million in a Series A funding round to accelerate the roll-out of its carbon capture technology. The Clean Growth Fund and Barclays’ Sustainable Impact Capital program co-led the round and is making its first investment in Northern Ireland’s clean-tech sector.
MOF Technologies, a Queen’s University Belfast spin-off, has developed an energy-efficient carbon capture system that uses MOFs (metal-organic frameworks) to reduce emissions from cement plants, steel plants, and energy-from-waste plants. MOFs are highly porous materials capable of storing, separating, and capturing specific gases. They have potential in a variety of industries, including food, drug, and natural gas transportation.
MOF Technologies co-CEO Conor Hamill said, “The willingness of these two leading funders in clean-tech reinforces our own confidence in our work and gives us scope to expand our operations in Belfast and secure new business opportunities.”
“With our cost-competitive end-of-pipe system, we can make commercial carbon capture a reality and a key part of the climate solution,” he further added.