UK-based industrial automation company Gigaton has raised US$26m in a Series A funding round to accelerate deployment of its AI-powered plant optimisation technology across energy-intensive industries.
Formerly known as Carbon Re, the company develops autonomous process control software that uses artificial intelligence to optimise industrial operations by adjusting parameters such as fuel mix, kiln speed and oxygen levels in real time.
Gigaton said its technology is already being used by major cement producers including Adani Cement, Heidelberg Materials and Holcim, delivering annual savings of US$1m-3m per plant while reducing CO2 emissions by around 30,000tpa.
The company plans to use the funding to expand its workforce fivefold and broaden deployment into steel, glass and chemical production.
The investment round was led by Plural, with participation from 2150, Semapa Next and existing investors including Planet A Ventures, Cambridge Enterprise Ventures, UCL Technology Fund and Clean Growth Fund.
Gigaton CEO Josh Vernon said the company’s technology addresses growing operational complexity, rising energy costs and decarbonisation challenges facing heavy industry.
