Carnot Ltd Secures £2m To Scale High-Efficiency Multi-Fuel Engines

London-based Carnot Ltd is developing engine technology capable of reaching over 70% thermal efficiency, more than double the 30-35% achieved by standard internal combustion units. The company has secured an estimated £2m funding round at a post-money valuation of £22.3m. Founded in 2019, the business manufactures power systems designed to reduce fuel consumption by approximately 50% for heavy-duty applications including long-haul trucks, marine vessels, and stationary power generators.

The core technology allows for fuel flexibility, enabling operators to switch between hydrogen, ammonia, methanol, biofuels, and liquefied natural gas. This versatility aims to de-risk decarbonisation strategies for industrial sectors by allowing a single powertrain to adapt to various energy sources. Carnot, which focuses on mathematical modelling and mechanical engineering, is currently preparing to move from validated core technology into a series of commercial trials.

The £2m raised this year follows a smaller funding injection of £327.6k recorded in 2025. While the company's latest accounts for the period ended 31 August that same year listed nine employees, its LinkedIn profile currently indicates a headcount of 86 staff members. Documentation for the recent share allotment was filed in August, following an initial allotment in February.