PeroCycle has announced strategic partnerships with Beijing Peking University Pioneer Technology Corporation (PKU Pioneer) and io consulting to accelerate the development and commercialisation of its closed-loop carbon recycling technology for hard-to-abate industries.
The collaborations combine PeroCycle’s carbon recycling technology with PKU Pioneer’s expertise in gas separation and purification, and io’s engineering capabilities in complex energy and industrial projects. Together, the partners aim to advance the technology from pilot development towards commercial-scale deployment.
Developed from research at the University of Birmingham, PeroCycle’s technology uses a perovskite-based catalyst to convert captured CO2 into carbon monoxide (CO) at lower temperatures than conventional approaches. The resulting CO can be reused within industrial processes as a feedstock or reducing agent, creating a circular carbon loop rather than treating CO2 as waste.
The technology is targeting foundation industries including steel, cement and chemicals, where emissions are difficult to eliminate through electrification or renewable energy alone. In steelmaking, the process could help reduce reliance on fossil-based reducing agents such as coal and coke by recycling carbon-containing gases back into the production cycle.
Under the partnership with PKU Pioneer, the companies will develop a roadmap for the design, construction and commissioning of PeroCycle’s first commercial-scale facility. The collaboration combines PeroCycle’s catalyst and reactor technology with PKU Pioneer’s experience in industrial gas processing and purification.
io will support PeroCycle’s pilot plant development and undertake front-end engineering design (FEED) and owner’s engineer activities for a proposed 20 ktpa (CO2 treated) demonstration plant, followed by a planned 2 Mtpa (CO2 treated) first-of-a-kind commercial facility.
Grant Budge, CEO of PeroCycle, said: “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 engineering expertise provides the certainty required to deploy at pace. Together, we are demonstrating how heavy industry can reduce emissions while improving resource efficiency and supporting long-term competitiveness.”
By enabling captured carbon to be reused within industrial processes, PeroCycle’s approach represents a carbon utilisation pathway that complements broader CCUS efforts. The technology is aimed at sectors where emissions remain challenging to address, offering a route to reduce industrial carbon intensity while making greater use of existing production infrastructure.
PeroCycle will present its technology at the World CCUS Conference 2026 in Edinburgh, UK. CEO Grant Budge will deliver a presentation titled “The value of closed carbon loops in steel” on 24 September 2026 at 11:50 during the “Capture Technology III” session, highlighting the role of carbon recycling technologies in supporting the decarbonisation of steel and other hard-to-abate industries.
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About PeroCycle: PeroCycle is a UK-based industrial technology company spun out from the University of Birmingham. It specialises 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.
About PKU Pioneer: Beijing Peking University Pioneer Technology Corporation Ltd (PKU Pioneer) is a high-tech enterprise specializing in PSA/VPSA gas separation technology, with over 400 plants commissioned globally, serving the steel, chemical, and metallurgical industries worldwide.
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.
Photo courtesy of io consulting