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Mantel Capture raised $30 million in a Series A funding round led by Shell to develop technology for capturing CO2 emissions using molten salts.

Sep 05, 2024over 1 year ago

Amount Raised

$30 Million

Round Type

series a

CambridgeManufacturing

Investors

EniShell

Description

Mantel Capture has secured $30 million in a Series A funding round to advance its technology for capturing carbon emissions from industrial sites. The investment, led by Shell, aims to demonstrate the effectiveness of molten salts in reducing CO2 output significantly.

Company Information

Company

Mantel

Location

750 Main Street

Cambridge, Massachusetts, United States

About

Mantel is developing the first molten-salt based carbon capture technology. Our molten borates are designed to operate at the high temperatures found inside boilers, kilns, and furnaces – enabling highly efficient carbon capture that has not been possible until now. Carbon capture can be applied across industry to reduce emissions - and even achieve net-negative emissions. By solving for efficiency Mantel can reduce energy losses by more than 60% and cut costs in half, unlocking carbon capture’s role in reaching global net zero.

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Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
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