Mirico accelerates climate change monitoring with investment led by Shell Ventures

July 14, 2022

Mirico accelerates climate change monitoring with investment led by Shell Ventures

Mirico announced today that it had raised £2m to accelerate roll out of its greenhouse gas emissions monitoring solutions. Shell Ventures and New Climate Ventures participated in the funding round alongside all existing institutional investors (Longwall Ventures, Foresight Williams, UK Innovation & Science Seed Fund, and STFC Innovations).

This latest investment will enable Mirico to scale its gas emissions monitoring business which quantifies greenhouse gasses (such as methane and carbon dioxide) across entire industrial sites with just a single instrument, through continuous, wide-area monitoring.

Mirico is one of the top emerging climate tech companies in the PwC Future50 report published earlier in the year and this funding will enable Mirico to address the significant increase in demand with net zero targets and emissions monitoring becoming a key focus across a wide range of industries and applications globally.

Mirico and Shell have been collaborating for several years to measure and reduce greenhouse gas emissions and this funding follows successful results at a Shell gas processing site in the Netherlands.

Andrea Course at Shell Ventures said “Shell has successfully collaborated with Mirico over recent years to validate their technology and understand and quantify emissions at our sites. We are pleased to consolidate the relationship further with an investment that will help accelerate Mirico’s expansion and support Shell’s journey towards net-zero emissions.”

Mark Volanthen, Chairman of Mirico commented, “I am delighted to welcome Shell Ventures and New Climate Ventures as investors in Mirico. In addition to funding to expand the business, their involvement represents an endorsement of Mirico’s capability and our potential impact on global climate change.”

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You can download the full press release here.