HexSeed Technology Secures New Funding
Bristol-based HexSeed Technology has successfully raised £600,000 in an undisclosed funding round. The round was led by Carbon13 with participation from Net Zero Technology Centre and Vento Ventures. HexSeed is known for its innovative approach in transforming captured CO₂ into valuable supermaterials, such as low-carbon lab-grown industrial diamonds.
Company Background
Founded by Mark Tandy, who serves as the Chief Executive Officer, HexSeed Technology is making strides in the carbon capture and utilization (CCU) sector. The company's focus is on converting captured carbon dioxide into high-value materials, thereby contributing to sustainability efforts in various industries.
Strategic Use of Funds
The newly acquired funds will be directed towards the development of low-temperature diamond coating technology. According to CEO Mark Tandy, "This funding will allow us to take our low-temperature diamond coating technology from laboratory demonstration to working GaN devices." This advancement is particularly significant as data centres are projected to consume a growing share of the UK’s grid capacity, with much of that energy lost as heat during power conversion.
Additional Support
In addition to the funding, HexSeed Technology will also gain access to a Partnership Grant from Innovate UK. This grant, provisionally awarded earlier in the year, will provide further support as the company continues to enhance its carbon utilization technologies.