Parallel Carbon Limited

Parallel Carbon Ltd, based in Manchester, UK, is a small, active company founded three years ago. With two employees and £201,431 in assets, it operates from a real address and is overseen by two directors and owners. The company is an irregular importer, primarily dealing with electrical machinery and equipment, with recent activity recorded in December 2024.

The company’s website highlights its mission to halt climate change through innovative solutions. Parallel Carbon combines Direct Air Capture (DAC) and Water Electrolysis processes, harnessing solar and wind power to remove carbon from the atmosphere and produce clean hydrogen affordably. By 2030, they aim to capture carbon for under £100 per ton and generate clean hydrogen for £1 per kilogram. The website also features a “DAConomics” section, suggesting a focus on the economic viability of their technology. They even have a blog with recent news items about cost-effective carbon removal and recognition in the UpLinks Carbon Capture and Utilization Challenge.

Financially, Parallel Carbon Ltd presents a mixed picture. While cash bank increased by a staggering 1500% to £33,000, net assets actually decreased by 330% to -£660,000. This indicates the company is burning through cash, despite a large increase in bank holdings. Bank borrowings have also surged by 2600% to £710,000, and trade debtors have increased by 680% to £170,000—suggesting a reliance on credit terms. Creditors, however, have also increased significantly, rising by 2600% to £740,000. The company’s small size (meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) allows for agility, but the substantial equity decline and increased debt raise concerns about its long-term sustainability. There is no auditor mentioned, meaning the financial statements are unaudited.

Despite these financial pressures, Parallel Carbon’s focus on cutting-edge technology and its commitment to sustainability position it for potential growth. The company's ability to secure funding and manage its debt will be key to its future success.

Registered in England/Wales under the registration number 13535368, with a registered address at M17 1AY, United Kingdom, Manchester, Unit 4 Westbrook Park, Trafford Park Road.

WARNING:The numbers have been rounded for simplicity and may be inaccurate.Please, refer to the latest financial report for verification.