With backing from leaders in the energy industry, the company is scaling its molten borate carbon capture technology, which could cut costs by more than half
BOSTON--(BUSINESS WIRE)--Mantel Capture, Inc. (Mantel), the technology provider of a carbon capture system using molten borates, today announced it has raised $30 million in Series A funding co-led by Shell Ventures and Eni Next. Additional participating investors include Engine Ventures, New Climate Ventures, Hartree, bp Ventures, Arosa Ventures, Vale Ventures, Newlab, MCJ Collective, and others. The funding will be used to implement a demonstration project at an industrial site and help pave the way for full-scale commercial deployment of Mantel’s high-temperature carbon capture systems. The company’s technology has already demonstrated carbon capture at lab scale of half a tonne per day, and the upcoming project will be around 10 times larger, rated to capture 1,800 tonnes of CO2 emissions per year at an industrial site....
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