HomeFundingUK-based Levidian signs a deal with Baker Hughes and hits valuation of...

UK-based Levidian signs a deal with Baker Hughes and hits valuation of €148 million

UK-based climate tech pioneer, Levidian, has just received new investment from US energy giant, Baker Hughes as the push towards decarbonisation reaches the next level:  global collaboration. 

Creating a carbon-neutral world is a common goal right around the world. From San Francisco to Sarajevo, decarbonising our global society and stimulating a planet-positive energy transition is a top concern. While startups, governments and enterprises work together to try to achieve ambitious yet crucial targets, the decarbonisation movement is becoming an increasingly international and collaborative affair. 

Reflecting this, UK-based Levidian, which has been pioneering the British energy transition since 2012 with its patented LOOP technology, has now received investment from American energy firm, Baker Hughes. 

The details

Baker Hughes has written a cheque of about €13.7 million (£12M) to the UK climate tech scaleup, giving the company a valuation of about €148 million (£130M), and opening up the door for global collaboration opportunities. 

The cash injection will enable the further scale-up of Levidian’s business, including both LOOP, Levidian’s decarbonisation device, and graphene production capacities at its Cambridge headquarters. Levidian currently works with the National Grid and United Utilities to help accelerate the journey to net zero. 

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.”

Creating a decarbonised world

Founded in 2012, Levidian has been paving the way in climate innovation with its approach to green energy creation and provides solutions to energy and industrial customers worldwide.

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 it can be 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 new funding will bolster the production of more LOOPs, enabling the firm to convert more methane into fuels of the future and positively impact the endeavour to decarbonise the economy. 

As part of the deal, Luca Maria Rossi, VP – New Frontiers at Baker Hughes, will sit on the Levidian board, further deepening the relationship and establishing a route to ongoing support and collaboration. 

Luca Maria Rossi commented: “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 decarbonization of hard-to-abate sectors.”

Patricia Allen
Patricia Allen
is the Head of Content at EU-Startups. With a background in politics, Patricia has a real passion for how shared ideas across communities and cultures can bring new initiatives and innovations for the future. She spends her time bringing you the latest news and updates of startups across Europe, and curating our social media.

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