This month, we are excited to feature Mantel Capture, a company developing carbon capture materials and systems to remove CO2 from flue emissions in heavy industrial sectors. Mantel's novel application of molten alkali metal borates enables efficient recovery of heat energy, which in turn allows for a more efficient carbon capture method. Mantel's solution is the first high-temperature, liquid-phase carbon capture system that can recover useful energy as high-quality steam or heat.
Mantel recently closed a $30 million Series A round with funding co-led by Shell Ventures and Eni Next with additional participation from Engine Ventures, New Climate Ventures, and others. The new raise will allow Mantel to move forward with a demonstration project at a paper mill with the potential for capturing 1,800 metric tons of emissions per year. By pairing with biogenic sources of emissions, such as pulp & paper, bioenergy, and waste-to-energy, Mantel can compound the benefits realized by more efficient carbon capture.
Designed to operate at the high temperatures found inside boilers, kilns, and furnaces, this approach is inherently more efficient and therefore lower cost than other more energy-intensive carbon capture alternatives. By uniquely combining liquid phase materials with high operating temperatures, Mantel's approach can nearly eliminate energy losses and cut costs in half. This technology has applications in hard-to-abate geographies where energy derived from coal and natural gas is likely to remain prevalent for decades.
Mantel's CEO and Co-Founder, Cameron Halliday, remarked: "With support from both investors and industry leaders, we are eager to showcase the effectiveness of Mantel's technology across industrial applications and demonstrate a low-cost pathway to net zero emissions for our industrial customers. This investment enables us to transition from lab-pilot success to working with customers to design and prepare for the deployment of full-scale commercial projects."
"Point source carbon capture is a critical piece to cost-effectively decarbonize heavy industry," said Michael Kearney, Mantel Board Member and General Partner at Engine Ventures. "With new capital and commercial opportunities emerging across the world, Mantel is positioned to rapidly scale its low-cost carbon capture technology."
Mintz is proud to support the Mantel Capture team in their mission to transform carbon capture technology!
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