Mantel, the developer of a new carbon capture solution, has announced a $2 million investment led by The Engine, the venture firm spun off from MIT that invests in early-stage Tough Tech companies. New Climate Ventures also participated in the seed round. Mantel’s solution is the first high-temperature liquid-phase carbon capture system. Designed to operate at the high temperatures found in boilers, furnaces and ovens, this approach is inherently efficient and therefore lower cost. This funding will accelerate Mantel’s technology development, prototype testing and initial deployment. In addition, the expansion of carbon sequestration tax credits in the new Infrastructure Reduction Act greatly increases the opportunities for Mantel.
Mantel molten salts selectively absorb CO2 and regenerate a clean stream of CO2 that can be stored or used. By uniquely combining liquid-phase materials with high operating temperatures, this approach can reduce energy losses by more than 60% and cut costs in half. “There is a thermodynamic benefit to running a separation process at high temperatures, and addressing the thermodynamics is the only way to significantly reduce the cost of carbon capture,” said Cameron Halliday, Mantel co-founder and CEO. “By using liquid-phase chemistry, we can overcome the challenges that hold back existing high-temperature approaches, enabling the critical role of carbon capture in the energy transition.”
Mantel is building a platform of solutions to reduce emissions in hard-to-reduce industries such as industrial heat, cement, steel and hydrogen. It also applies to hard-to-reach geographic areas where coal and natural gas-derived energy are likely to remain dominant for decades. In addition, the technology can be used to remove carbon dioxide from the atmosphere by coupling with biogenic sources of emissions, such as bioenergy, energy from waste, and pulp and paper. Because organic material draws carbon from the atmosphere as it grows, and the captured emissions are permanently stored underground in geological formations.
According to the International Energy Agency (IEA), to reach net zero, more than 10 billion tons of carbon dioxide per year would need to be captured by 2070, implying a global market measured in the hundreds of billions of dollars. “Carbon capture is necessary to meet the world’s climate goals, and lower-cost solutions are absolutely necessary for countries and companies to achieve net zero emissions goals,” said Michael Kearney, partner at The Engine and newly appointed board member. of Mantel. “To drive decarbonisation in strategic energy-intensive industries, low-cost carbon capture is a critical necessity and Mantel’s system has the potential to significantly reduce the cost of carbon capture.” Net-zero emissions can be a cost-effective, achievable reality.”
Founded in 2022 by Cameron Halliday, CEO, Daniel Colson, COO, and Sean Robertson, CTO, Mantel was spun off from MIT and research was completed with Professors T. Allen Hatton and Takuya Harada. Once a lab-scale flow cycle demonstration is achieved, the company plans to use the fresh capital to build a commercial-scale demonstration plant.
Mantel develops the first carbon capture technology based on molten salt. Our materials are designed to operate at the high temperatures found in boilers, furnaces and ovens – enabling highly efficient carbon capture that has not been possible before. Carbon capture can be applied across the industry to reduce emissions – and even achieve net negative emissions. Through an efficiency solution, Mantel can reduce energy losses by more than 60% and cut costs in half, unlocking the role of carbon capture in reaching global net zero. To learn more, go to: https://www.mantelcapture.com/
About the engine
The engine, created by MIT, invests in early-stage companies solving the world’s biggest problems by bringing together breakthrough science, engineering and leadership. We accelerate the path to market for Tough Tech companies through the combination of capital, infrastructure and network. Engine is headquartered in Cambridge, Massachusetts. For more information, visit www.engine.xyz.
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