John Crane receives UK government funding for CCUS project

LONDON - 30 June 2023: John Crane, a division of the FTSE 100 industrial technology company, Smiths Group, in partnership with Cranfield University and The University of Edinburgh has been awarded £924,895.86 grant funding through the Carbon Capture, Usage & Storage (CCUS) Innovation 2.0 competition – part of the Department for Energy Security and Net Zero’s (DESNZ) £1 billion Net Zero Innovation Portfolio (NZIP).

The grant was awarded for John Crane’s innovative, high temperature sealing solution for supercritical CO₂ power cycle, and forms part of the British government’s multi-million boost to help UK businesses tackle carbon emissions, as the government encourages industry to stop using costly fossil fuels for cleaner alternatives.

Supercritical CO₂ power cycles are a novel process currently under consideration across the energy sector, including for CCUS. Compared with conventional steam-driven systems, they deliver higher cycle efficiencies, reduced emissions from compact turbomachinery, resulting in reduced fuel and water consumption and lower capital expenditures. Through this project, John Crane aims to develop an innovative, uncooled high-temperature dry gas seal solution for supercritical CO₂ power cycles by using new simulations, material compositions and testing validations.

This innovation, expected to work at high temperatures and pressure values, should significantly reduce leakages and potentially even enable the inclusion of an additional turbine expansion stage. Through a supercritical CO₂ cycle efficiency improvement, overall emissions will be significantly reduced, cutting the cost of CCUS and accelerating the adoption of supercritical CO₂ power cycles into existing and future power plants.

Bernard Cicut, President of John Crane, said: “The growth of technologies such as CCUS are playing a crucial and growing role in the efforts of governments and industry across the world to accelerate the energy transition. This is a major growth area for Smiths Group, particularly for John Crane, and we are constantly looking for ways to help our customers navigate the transition by reducing emissions and driving efficiency.”

Lord Callanan, Minister for Energy Efficiency and Green Finance, said: “Britain has a long and proud history of pushing the boundaries in science – and our backing with over £80 million for these cutting-edge projects today will help make way for the next era of innovation. The transition away from fossil fuels presents a huge opportunity for our growing green energy sector and we will continue to make sure UK business can benefits from its full potential.”

Minister for Energy Security and Net Zero Graham Stuart said: “Whether it's the first meal of the day or a night cap, the great manufacturers of our country are striving to cut their carbon emissions and their energy bills - and in turn, support our efforts to boost our energy security. Our investment of over £80 million will help them to go further and faster, using the latest science, technologies, and new energy sources to cut ties with fossil fuels and futureproof their industries."

John Ostergren, Chief Sustainability Officer at Smiths, said: “Our partnerships with top universities such as the University of Edinburgh and Cranfield University, are helping us to develop and bring to market cutting edge technology and innovative solutions that will help solve customer challenges and accelerate the decarbonisation agenda.”

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About Smiths Group

For over 170 years, Smiths Group has been pioneering progress by improving the world through smarter engineering. We serve millions of people every year, to help create a safer, more efficient and better-connected world, across four major global markets:  Energy, General Industry, Security & Defence, and Aerospace. Listed on the London Stock Exchange, Smiths employs c.14,600 colleagues in over 50 countries. For more information visit www.smiths.com.

About John Crane

John Crane is a global leader in rotating equipment solutions, supplying engineered technologies and services to process industries. The company designs and manufactures a variety of products, including mechanical seals and systems, couplings, filtration systems and digital diagnostics technologies. John Crane customer service is accessed through a global network of more than 200 sales and service facilities in over 50 countries. Global reported revenue for fiscal year 2022 was $1.2 billion USD. John Crane is part of Smiths Group.

About the Department for Energy Security and Net Zero 

The Department for Energy Security and Net Zero will provide dedicated leadership focused on delivering security of energy supply, ensuring properly functioning markets, greater energy efficiency and seizing the opportunities of net zero to lead the world in new green industries.  

The funding from the CCUS Innovation 2.0 programme comes from the  department’s  £1 billion Net Zero Innovation Portfolio which provides funding for low-carbon technologies and systems and aims to decrease the costs of decarbonisation helping enable the UK to end its contribution to climate change. 

Contacts

Media enquiries

Tom Steiner, Smiths Group
+44 (0) 7787 415891
tom.steiner@smiths.com

Alex Le May, FTI Consulting
+44 (0)7702 443312
smiths@fticonsulting.com

Annie Westmoreland Wood, John Crane
+1 (817) 456-6209
annie.wood@johncrane.com

Investor enquiries

Stephanie Heathers, Smiths Group
+44 (0)7584 113633
stephanie.heathers@smiths.com