Plans to build a £1 billion business in the South of Scotland have received backing from the region’s economic and community development agency.
South of Scotland Enterprise (SOSE) has committed almost £1 million to carbon capture specialist The Carbon Removers, helping to launch a major fundraising round that will support the company’s expansion across the UK and Europe. The early-stage investment is intended to attract further private funding and support the firm’s long-term growth, with the ambition of generating annual revenues of £1 billion by 2034/35.
The Carbon Removers aims to remove one million tonnes of carbon dioxide each year by 2030 by scaling up its carbon sequestration projects.
Headquartered near Dumfries, the company captures carbon dioxide from biogas facilities and the whisky industry and is now extending its operations into Europe. Founded by brothers Ed and Richard Nimmons, it is the only UK company to hold a licence to permanently store carbon in Denmark and operates the EU’s first CO₂ storage facility.
SOSE plans to convert its loan into an equity stake, a move it says will support the South of Scotland’s transition to net zero, particularly across agriculture, whisky production and bioenergy. The investment is also expected to strengthen business growth in the region and enhance its reputation as a centre for innovation.
The announcement comes ahead of a Scottish Parliament reception on Wednesday 7 January celebrating successful South of Scotland businesses.
Deputy First Minister Kate Forbes said carbon capture and storage was essential to Scotland’s transition to net zero, particularly for industries where emissions are difficult to reduce. She said the technology draws on skills from the oil and gas sector, helping to sustain skilled jobs, and welcomed SOSE’s support for a “home-grown” company leading developments in the UK and Europe.
Richard Nimmons, co-founder of The Carbon Removers, said the company was pleased to deepen its relationship with SOSE and proud to be based in the South of Scotland as it grows its carbon capture expertise internationally.
Russel Griggs, chair of SOSE, said the agency had supported the company from its early days, including its role in the rollout of the Pfizer COVID-19 vaccine. He said its growth into international carbon removal and storage demonstrated that rural locations are no barrier to innovation.
SOSE’s director of investment and sustainable enterprise, Martin Valenti, said the agency was backing the company’s ambition to reach £1 billion in annual revenues. He added that, as Scotland’s Natural Capital Innovation Zone, the South of Scotland had a key role to play in driving innovation and attracting responsible investment for the benefit of the region and the wider Scottish economy.
