Oxford Circulation, a spin-out from the College of Oxford’s Thermofluids Institute, has raised €23.7 million in a Collection C funding spherical co-led by bp Ventures and Power Affect Companions (EIP).
The funding will allow the corporate to scale its operations, develop manufacturing capability, and advance its valve and regulator applied sciences, which goal to boost reliability, scale back upkeep, and minimise fugitive emissions within the power sector.
Neil Poxon, CEO of Oxford Circulation, commented: “Since our inception on the OTI on the College of Oxford, we have now been all about creating options for the power sector. Oxford Circulation was borne out of a need to revolutionise valve expertise that appeared to have stay ed stagnant for greater than 100 years.
We’re pleased with what we’ve achieved during the last 9 years , having been granted virtually 60 patents for our expertise. With this latest funding we look ahead to increasing our workforce and manufacturing capability, and most significantly, exploring methods Oxford Circulation will help the business scale back fugitive emissions,” he added.
Based in 2015 by Professor Thomas Povey, Oxford Circulation specialises in reimagining valve design. Their product vary contains fuel and liquid regulators, actuated valves and ancillary merchandise. Its expertise goals to remove mechanical drive trains, stems, and diaphragms, considerably decreasing put on and mitigating failure dangers. This makes its merchandise related for addressing challenges similar to methane emissions—an vital focus space for world greenhouse fuel discount efforts.
Gareth Burns, Vice President of bp Ventures, stated: “Oxford Circulation’s expertise may very well be vital for bp’s core operations, serving to scale back upkeep and downtime prices at our manufacturing amenities , in addition to being utilised for different rising companies similar to hydrogen. We’re excited to be investing in a UK enterprise and the financial system as we search for new methods to extend reliability in our operations.”
“We look ahead to supporting Oxford Circulation in partnership with bp Ventures as the corporate scales up its operations,” commented Steven Yang, Principal at EIP. “Methane emission discount is without doubt one of the most value – efficient methods for world greenhouse fuel abatement. We consider Oxford Circulation’s progressive valves and regulators are strategically vital for upstream, midstream, and fuel utility operators centered on minimising fugitive emissions and reducing working prices. We additionally see Oxford Circulation taking part in an vital function in enabling infrastructure to be used – instances similar to hydrogen, ammonia, and captured CO2.”
