Parallel Carbon

What Parallel Carbon does

Parallel Carbon is a UK-based climate technology company building an integrated direct air capture (DAC) and hydrogen production hardware platform for the post-fossil-fuel economy. Founded in 2021 and headquartered in London with R&D operations in Manchester, the company's core technology is a proprietary membrane-free water electrolyzer that simultaneously produces hydrogen, acids, and bases; the acids and bases are used to extract CO2 from a mineral sorbent, while the hydrogen is recovered as a near-zero-carbon-intensity output. The system is designed to operate on off-grid and intermittent renewable power (e.g., solar) and claims 10x higher current density than comparable electrolyzers, 99% of energy directed into electrolysis, zero sorbent degradation over cycling, and lower CAPEX than high-temperature mineral looping DAC systems.

The company's three product outputs are: (1) carbon-negative hydrogen intended to meet local regulatory definitions of renewable or green hydrogen; (2) high-integrity carbon dioxide removal (CDR) credits issued as Carbon Removal Certificates (CORCs) under the Puro Standard with geological storage; and (3) e-fuel feedstocks (CO2 and H2) for downstream synthesis of e-methanol, electro-sustainable aviation fuels (e-SAFs), and carbon-negative ammonia. Revenue is generated through pre-purchase agreements and long-term enterprise supply contracts, with pricing not publicly disclosed. The named anchor customer is Zurich Insurance Group, which has pre-purchased 1,200 metric tons of CDR credits covering the majority of Parallel Carbon's CDR credit volume through 2030.

Parallel Carbon raised a $3.6 million seed round led by Aramco Ventures in January 2024, with participation from Axon Partners Group, Counteract, DNX Ventures, Rumbo Ventures, and Voyagers. The team grew from 4 to 9 employees during 2024. Go-to-market is enterprise field sales targeting three primary segments: corporate carbon removal buyers (insurance, corporates with net-zero commitments), e-fuel producers serving aviation and maritime, and low-carbon ammonia producers. Strategic partnerships with Repsol Foundation (pilot testing), Black & Veatch (US DOE-supported IgniteX CDR program), Newlab (US DOE-funded Carbon Management Program), Sustainable Ventures, and UpLink/World Economic Forum support pilot validation, demonstration-site access, and pathway to industrial-scale deployment.

Name

Parallel Carbon

Legal name

Parallel Carbon Limited

Website

https://parallelcarbon.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

1–10 employees

Short description

Parallel Carbon is a UK-based climate technology company that builds a proprietary membrane-free electrolyzer co-producing carbon-negative hydrogen and atmospheric CO2 capture, serving CDR credit buyers, e-fuel producers, and low-carbon ammonia producers.

Ownership category

akta.pro rank

Product category

Direct Air Capture and Green Hydrogen Hardware

NAICS

Electric Power Generation (22111)

SIC

Motors & Generators (3621)

akta.pro primary industry

Direct Air Capture (DAC) Project Development (EUABABAJ)

Keywords

• Direct air capture
• Green hydrogen production
• Carbon removal credits
• Water electrolysis
• E-fuel feedstocks

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Infrastructure, Supply Chain, Operations

Revenue model

1. Carbon Dioxide Removal (CDR) Credits: Sale of high-integrity carbon removal credits (CORCs) issued under the Puro Standard, generated by the DAC+H2 production process with geological storage. Majority of CDR credits through 2030 have been sold via pre-purchase agreements.
2. Carbon-Negative Hydrogen: Production and sale of hydrogen with near-zero carbon intensity to low-carbon ammonia producers and e-fuel producers. Hydrogen expected to meet local definitions of renewable/green hydrogen.
3. E-Fuel Feedstocks: Supply of cost-effective CO2 and hydrogen feedstocks for downstream synthesis of e-methanol, e-SAFs (electro-sustainable aviation fuels), and carbon-negative ammonia.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels7 records

Core offering

Parallel Carbon builds an integrated hardware platform that combines a proprietary membrane-free water electrolyzer with direct air capture (DAC) technology to simultaneously produce carbon-negative hydrogen and capture atmospheric CO2 using a mineral sorbent process. The system runs on off-grid solar power and delivers 24/7 CO2 output, producing CDR credits (CORCs under the Puro Standard), carbon-negative hydrogen, and e-fuel feedstocks (e-methanol, e-SAFs, carbon-negative ammonia) for enterprise customers.

Product overview

Parallel Carbon offers a single unified product: the DAC+H2 Integrated System—a hardware platform that combines proprietary membrane-free water electrolysis with direct air capture technology. The platform simultaneously produces carbon-negative hydrogen and captures CO2 from atmospheric air using a mineral sorbent process. Key product outputs include CDR credits (under Puro Standard), carbon-negative hydrogen meeting renewable/green hydrogen specifications, and feedstocks for e-fuels (e-methanol, e-SAFs, carbon-negative ammonia). The core Parallel Processing Technology enables 10x higher current density and 99% energy efficiency, positioning it as the lowest capex air CO2 capture equipment available.

Differentiator

Problem solved

Functional benefit

Products and services

• DAC+H2 Integrated System An integrated hardware platform combining membrane-free water electrolysis with direct air capture technology. The system simultaneously produces carbon-negative hydrogen and captures CO2 from air using a mineral sorbent process, enabling 24/7 CO2 delivery even from intermittent renewable power sources. Sold to e-fuel producers, low-carbon ammonia producers, and CDR credit buyers.
• Parallel Processing Technology (Membrane-Free Water Electrolyzer) Proprietary membrane-free water electrolyzer that produces hydrogen alongside acids and bases used to extract CO2 from mineral sorbent. Achieves 99% energy efficiency into electrolysis and 10x higher current density versus similar electrolyzers, with zero sorbent degradation during cycling. Forms the technical core of the DAC+H2 Integrated System.
• Carbon-Negative Hydrogen Hydrogen produced through the DAC+H2 integrated process with near-zero carbon intensity. Sold to low-carbon ammonia producers and e-fuel producers; expected to meet local definitions of renewable or green hydrogen.
• Carbon Dioxide Removal (CDR) Credits High-integrity carbon removal credits issued as Carbon Removal Certificates (CORCs) under the Puro Standard, generated by the DAC+H2 production process with geological storage. Majority of CDR credits through 2030 pre-sold to Zurich Insurance Group.
• E-Fuel Feedstocks (CO2 and Hydrogen) Integrated supply of cost-effective CO2 and hydrogen feedstocks from the DAC+H2 platform for downstream synthesis of e-methanol, electro-sustainable aviation fuels (e-SAFs), carbon-negative ammonia, and fertilizers. Sold to e-fuel producers in aviation, maritime, and fertilizer sectors.

Quantifiable outcome

• >90% reduction in equipment capacity costs in 2024
• +3 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Five partnerships are on record, tiered core, key and minor.

• Repsol FoundationcoreStrategic or Co-development Partner · 1 January 2025Funding and structured support to test Parallel Carbon's integrated DAC+H2 pilot system through the Repsol Foundation's 14th Entrepreneurs Fund. Pilot will validate real-world performance, accelerate technology development, and prepare for future industrial deployment. Goal to establish longer-term strategic partnership with integrated oil and gas company.
• UpLink (World Economic Forum)keyStrategic or Co-development Partner · 1 December 2024Recognised as Top Innovator in Carbon Capture and Utilization Challenge. UpLink connects innovators, experts, and partners to address global challenges aligned with UN Sustainable Development Goals.
• Sustainable VenturesminorStrategic or Co-development Partner · 1 September 2024Named top 10 finalist in Hydrogen Innovation Challenge. Three-month collaboration with Sustainable Ventures team to build partnerships and refine technology approach.
• Black & VeatchcoreStrategic or Co-development Partner · 1 January 2024Selected for Black & Veatch IgniteX CDR program supported by U.S. Department of Energy. Collaboration with experts to engineer, evaluate, and improve design of demonstration facility. Black & Veatch's century-long experience in global infrastructure provides insights for scaling DAC and hydrogen technologies.
• NewlabcoreStrategic or Co-development Partner · 1 January 2024Joined Newlab's US DOE-funded Carbon Management Program to explore demonstration opportunities in the Gulf Coast's industrial corridor. Part of $50 million Newlab facility at old Navy Base in New Orleans housing nine climate-tech startups. Network includes Shell, Carbonvert, and Louisiana State University.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Captura: Captura uses an electrochemical direct air capture process that shares the same fundamental architecture as Parallel Carbon's membrane-free electrolyzer approach. Both target low-cost CO2 capture via electricity-driven chemistry, targeting similar e-fuel and CDR buyers.
• CarbonCapture Inc. CarbonCapture Inc. develops DAC systems targeting gigaton-scale deployment, and has gone public via SPAC. Competes for the same corporate CDR buyers and policy-driven project pipelines as Parallel Carbon.
• Heirloom Carbon: Heirloom is a leading DAC company using limestone-based sorbents and has raised significant capital with major corporate offtake agreements. Competes for the same voluntary CDR credit market with corporate buyers like Zurich, Microsoft, and Stripe.
• Avnos: Avnos is the closest comparable: it produces DAC + green hydrogen from seawater using a hybrid capture/water-splitting approach. Same dual-output business model (CDR credits plus low-carbon hydrogen) targeting aviation, maritime, and e-fuel customers — making it the most directly competitive peer.
• Mission Zero Technologies: UK-based electrochemical DAC company that has raised tens of millions and is building commercial pilot facilities. Closest geographically competitive peer with a similar electrochemistry-driven approach to CO2 capture.
• C-Zero: C-Zero decarbonizes natural gas by producing hydrogen and sequestered carbon in a single step using molten salt chemistry. The dual-product hydrogen + CO2 economics and target use cases (clean fuel production) closely parallel Parallel Carbon's positioning.

Emerging players

• CarbonOrO: CarbonOrO is a UK-based DAC company producing carbon-negative hydrogen and CDR credits. Direct emerging competitor in the integrated DAC+H2 category with comparable go-to-market targeting e-fuels and aviation.
• Phlair: Phlair is an early-stage DAC company using a novel alkaline-based capture process to drive down costs. Addresses the same CDR credit and e-fuel feedstock markets but is at an earlier commercialization stage than Parallel Carbon.

Others

• Electric Hydrogen: Electric Hydrogen is a leading low-cost electrolyzer manufacturer focused on industrial-scale green hydrogen. Shares the membrane/electrolyzer technology base but does not integrate DAC; competes for the same low-carbon hydrogen customer segment.

Broad incumbents

• Climeworks: Climeworks is the largest and most established DAC operator globally with multi-ton commercial plants and partnerships with major corporates. As the broad incumbent in the DAC category, it shapes customer expectations, pricing benchmarks, and policy engagement relevant to Parallel Carbon's go-to-market.

Market position

Strengths5 records

Weaknesses6 records

Competitive moat4 records

Key highlights7 records

Customer concentration

• Xx.com/ParallelCarbon
• Facebookfacebook.com/ParallelCarbon
• LinkedInlinkedin.com/company/parallel-carbon
• Instagraminstagram.com/Parallel.Carbon

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds3 records

Investors7 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Parallel Carbon