UK-based startup Immaterial has successfully completed its Series A, with plans to decarbonize the world.
The Cambridge University spinout is on a mission to make carbon capture economically viable and tackle the challenges of green hydrogen storage. With a focus on advanced materials, they aim to create solutions with lower capital and operating costs.
The investment round was led by SLB, with participation from AP Ventures, Cepsa, Chevron Technology Ventures, Energy Revolution Ventures, JERA, TRIREC, Ultratech Capital Partners, and other existing investors.
Immaterial’s patented technology, monolithic metal-organic frameworks (m-MOFs), has huge potential. It’s a customizable porous material capable of selectively absorbing and releasing target gases with a smaller footprint than existing options.
Funding will go towards a manufacturing plant to supply large quantities of these materials for carbon capture and hydrogen storage.
If implemented on a large scale, Immaterial’s technology could have great effects on industrial decarbonization.