PeroCycle, backed by Anglo American & University of Birmingham, has appointed experienced carbon capture executive Grant Budge as CEO while launching a £4M funding round. The company's innovative perovskite-based technology converts CO₂ into carbon monoxide within existing steelmaking processes, offering a practical decarbonisation solution for an industry responsible for 8% of global emissions. The funding will support development of a pilot unit processing 1,000 metric tons of CO₂ annually, marking a crucial transition from research toward commercial deployment.