LONDON, UK – PeroCycle, a pioneer in closed-loop carbon recycling technology, and io consulting (io), a leading international engineering consultancy, are pleased to announce the execution of a strategic partnership aimed at bringing PeroCycle’s transformative decarbonisation technology to the global market.
Under the terms of the agreement, io will provide comprehensive technical support to PeroCycle through its pilot plant development phase. Following the pilot, io will undertake Front End Engineering Design (FEED) and Owner’s Engineer duties for the delivery of a proposed 20ktpa (CO2 treated) demonstration plant, followed by a 2mtpa (CO2 treated) First-of-a-Kind (FOAK) commercial facility.
PeroCycle’s proprietary technology addresses the urgent need to decarbonise foundation industries such as steel, cement, and chemicals. By utilising a novel thermochemical process, the technology captures CO2 emissions and converts them back into carbon monoxide for reuse on site. This creates a sustainable circular carbon economy that integrates seamlessly into existing industrial infrastructure without requiring a total overhaul of assets.
The partnership leverages io’s deep expertise in complex energy projects and systems integration to ensure PeroCycle’s technology achieves the “Decarbonisation Trinity“:
- Reduced Emissions: Significant reduction in greenhouse gas output through high-efficiency carbon recycling.
- Reduced Energy Demand: Lower operating temperatures and integrated heat recovery compared to traditional carbon capture methods.
- Reduced Cost: Avoiding the high capital expenditure of new-build “green” plants by retrofitting existing facilities.
Grant Budge, CEO of PeroCycle, commented:
“Partnering with io consulting marks a pivotal milestone in our journey from the laboratory to industrial scale. Our technology is designed to be a ‘plug-and-play’ solution for the world’s most carbon-intensive industries, and io’s world-class engineering pedigree provides the certainty required to deploy at pace. Together, we are proving that heavy industry can achieve net-zero goals while actually improving operational efficiency and reducing long-term costs.”
Richard Dyson, CEO of io consulting, added:
“At io, we pride ourselves on being project architects for the energy transition. PeroCycle’s technology is a genuine game-changer for hard-to-abate sectors, offering a pragmatic and scalable path to deep decarbonisation. We are excited to apply our technical and commercial expertise to guide this technology through the critical demonstration and FOAK stages, ensuring it is bankable, buildable, and ready to transform the global industrial landscape.”
About PeroCycle
PeroCycle is a UK-based industrial technology company spun out from the University of Birmingham. It specializes in advanced carbon recycling solutions, particularly for the steel and foundation industries. By employing proprietary perovskite-based catalysts, PeroCycle enables a closed-loop system that transforms from a waste product into a valuable resource, facilitating a rapid and cost-effective transition to a low-carbon future.
About io consulting
io is a project architect and systems integrator dedicated to empowering the energy transition through innovative and independent consulting services across all Front-End Loading (FEL) stages, providing the technical and commercial clarity needed to de-risk investments. Created as a JV between Baker Hughes and McDermott, io delivers value-driven solutions for greenfield and brownfield projects in the Energy, Chemicals & Resources, Resource Infrastructure, and Industrial Decarbonisation sectors.
Media Enquiries
PeroCycle Email: info@perocycle.com Website: www.perocycle.com
io consulting Email: hello@ioconsulting.com Website: www.ioconsulting.com
