Levidian secures £12m investment from US energy giant Baker Hughes
Levidian Nanosystems, the Cambridge-based green energy creator, has secured a £12m investment from US energy technology giant Baker Hughes which values its world-first decarbonisation technologies at £130m – opening up global collaboration opportunities.
Levidian’s LOOP technology decarbonises methane by cracking it into its components: carbon (in the form of graphene) and hydrogen. The hydrogen can be used immediately as a hydrogen-rich gas blend, supporting industrial decarbonisation, or separated and stored.
The graphene can be added to a wide range of materials to extend their life, improve their performance, and deliver additional decarbonisation benefits.
This technology will enable Baker Hughes to expand its current core offerings and provide decarbonised solutions to adjacent sectors and industries.
The cash injection will enable the further scale-up of Levidian’s business, including both the LOOP portable decarbonisation device and graphene production capacities, at its Mercers Row headquarters.
Levidian CEO John Hartley said: “This investment comes at a critical phase of Levidian’s development. Baker Hughes has a long track record in energy technology and their expertise will be valuable as we scale Levidian quickly to meet the growing demand for decarbonisation, especially from the industrial sectors. Their commitment is a strong endorsement of our LOOP technology, our graphene, and our team.”
Luca Maria Rossi, VP new frontiers at Baker Hughes, said: “We continue to show our commitment to advancing our climate goals by investing in innovative technologies. Graphene is a game-changing material for many applications and Levidian’s technology stands out with its consistent high-quality product.
“The joint production of graphene and hydrogen will also enable economically effective decarbonisation of hard-to-abate sectors.”
Ian Hopkins, chief production officer at Levidian, added: “Over the coming months, we will be building out our production capability here in our Cambridge headquarters. This will give us capacity to deliver more LOOPs more quickly, as well as scaling our in-house graphene production. We are also rapidly growing our research and development capability, with new members of staff joining and more roles to come in order to deliver the scaleup of LOOP to meet our customers’ needs.”
The investment shows how rapidly Levidian has progressed – the company, which is based on Mercers Row, had fewer than 10 employees at the start of 2022 and has already more than tripled, with more staff growth still to come.
“Most of these roles are highly skilled working at the cutting edge of green technology,” notes Levidian’s marketing director Rebecca Zeitlin. “We are also exploring how we best offer opportunities for apprentices and graduates as we grow.
Luca Maria Rossi will sit on the Levidian board, further deepening the relationship. He has more than 25 years of experience in the energy industry in both engineering and commercial roles – including as chief technology officer of Baker Hughes’ turbomachinery and process solutions business prior to taking his current role as VP new frontiers, its strategic investment platform.
