Terms
- Announced
- 18 Dec 2025
- Instrument
- Debt
- Amount
- US$2.68mReported as GBP 2m of a GBP 4m package, converted at 1.3387 USD/GBP (December 2025 average)
Parties
- Project developer
- Black Bull Biochar Ltd
- Recipient type
- Technology company
- Country
- United Kingdom
- Capital providers
Capital providers and the amount counted for each Party Role Amount Basis Innovate UK Investor US$2.68m Sole provider: the whole transaction
Carbon
- Pathway
- Biochar
Structure and cover
- Structure flag
- Plain loan
What happened
- The debt half of a GBP 4m package, lent by Innovate UK through its Future Economy Facility rather than by a bank. Whether the GBP 2m is drawn or a facility ceiling is not disclosed. Security package not disclosed.
Kumo note
- A UK government agency lending rather than granting, on a biochar developer whose equity half came almost entirely from public and university sources.
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