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Mantel has raised $30 million in Series A funding to advance its molten borate-based carbon capture technology, which operates efficiently at high temperatures and significantly reduces costs. The funding will support a large-scale demonstration project, capturing 1,800 tonnes of CO2 annually at an industrial site. This development positions Mantel to help heavy industries meet decarbonization goals through scalable, cost-effective carbon capture solutions.
The $30 Million Game-Changer: How Mantel Secures Critical Funding
Mantel has successfully raised $30 million in Series A funding, marking a pivotal moment in the company’s journey. The round was co-led by Shell Ventures and Eni Next, alongside investors such as Engine Ventures, bp Ventures, New Climate Ventures, and others. This investment will support Mantel’s shift from lab-scale testing to full-scale commercial deployment of its innovative carbon capture technology.
The funding will be allocated towards demonstrating Mantel’s carbon capture system at an industrial site, a project expected to capture up to 1,800 tonnes of CO2 annually. This step is seen as a key movement towards commercializing the company’s high-temperature carbon capture solutions. By targeting sectors like heavy industry, this investment paves the way for making carbon capture technologies more accessible and cost-efficient.
Mantel’s Carbon Capture Technology: What Sets It Apart
Mantel’s technology is based on the use of molten borates, the first high-temperature liquid-phase carbon capture system. This advanced method allows the capture of CO2 at the emission source, such as boilers and furnaces, and operates efficiently at high temperatures.
Traditional carbon capture systems, like amine-based methods, are energy-intensive and costly. Mantel’s system not only reduces costs by over 50% but also captures heat during the absorption process, which helps to offset the energy used in regenerating the material. This combination of efficiency and lower operational costs makes Mantel’s solution a viable option for industries with high carbon emissions.
Mantel’s technology also offers scalability. Initial tests successfully captured half a tonne of CO2 daily, while future plans for larger installations aim to increase this capability tenfold. The upcoming demonstration project is a critical milestone in proving the scalability and effectiveness of this technology in real-world industrial settings.
The Heavy Industrial Sector: Why Carbon Capture Matters Now More Than Ever
The pressure on heavy industries to reduce emissions has never been greater. Industries such as steel, cement, and chemicals are among the largest contributors to global CO2 emissions. These industries are often classified as “hard-to-abate,” meaning that reducing their carbon footprint requires advanced technologies.
Carbon capture presents one of the most feasible solutions for these industries. It allows companies to continue operations while preventing CO2 from entering the atmosphere. As governments and regulatory bodies implement stricter emissions regulations, the demand for affordable and efficient carbon capture technologies is increasing.
According to the International Energy Agency (IEA), current carbon capture capabilities fall far short of meeting the necessary targets for achieving net-zero emissions by 2050. Significant scaling of carbon capture deployment is essential to meet global climate goals. Mantel’s technology, with its lower cost and higher efficiency, could contribute significantly to closing this gap.
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Mantel’s Vision: How They Plan to Scale and Succeed
Mantel is moving from lab-scale success to full-scale industrial implementation. The demonstration project at an industrial site is expected to capture 1,800 tonnes of CO2 per year, a significant increase from previous lab-based tests. This scaling effort represents a critical next step toward commercializing their technology.
Partnerships with leading investors and industry players, such as Shell Ventures and Eni Next, play an essential role in supporting Mantel’s growth. These collaborations provide not only capital but also industry expertise and networks, which are vital for Mantel’s strategy to expand its technology across multiple sectors.
The company envisions a future where its carbon capture system can be implemented in diverse industrial settings, helping industries reduce emissions while maintaining operational efficiency. With the rising global emphasis on decarbonization, Mantel is positioning itself to meet the increasing demand for carbon capture solutions.
Turning Investment Into Action: Mantel’s Next Steps
Mantel plans to use the recent $30 million funding to implement its first large-scale demonstration project. This project, designed to capture 1,800 tonnes of CO2 per year, will provide critical data and insights needed for future commercial deployments.
As the company prepares for full-scale operations, it aims to partner with heavy industries to install its carbon capture systems. Mantel’s system is designed to integrate seamlessly with existing industrial processes, making it a viable solution for companies looking to reduce their carbon footprint without undergoing extensive operational overhauls.
Mantel’s success in scaling its technology could spark further investment in carbon capture infrastructure. By reducing the costs associated with CO2 capture, Mantel is also laying the groundwork for broader adoption of these technologies in sectors where decarbonization has historically been challenging.
The Future of Carbon Capture: Why Mantel Is Positioned for Success
Mantel’s unique approach to carbon capture has the potential to significantly impact the future of emissions reduction. By offering a cost-effective solution tailored to the needs of heavy industries, Mantel is helping industries take a critical step toward meeting global net-zero goals.
As more companies and industries adopt carbon capture technologies, Mantel’s innovations will play a crucial role in driving down costs and improving the efficiency of carbon capture across sectors. This contribution is essential in the larger context of global efforts to combat climate change and reduce greenhouse gas emissions.
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