Carbon capture company Mantel has announced a $30 million Series A round.
The fundraising was led by Shell Ventures and Eni Next, with additional investments from Engine Ventures, New Climate Ventures, Hartree, bp Ventures, Arosa Ventures, Vale Ventures, Newlab, MCJ Collective, and others.
The startup’s molten borate technology offers a low-cost, energy-efficient method to capture CO2 at high temperatures—perfect for industries like cement, steel, and glass that are notoriously hard to decarbonize. This tech could reduce carbon capture costs by over 50%.
Their demo project aims to capture 1,800 tonnes of CO2 annually. Mantel’s solution could be a part of helping industries meet their climate commitments while keeping operations cost-effective.
