Mantel, a developer of a novel solution to carbon capture, announced a $2 million investment led by The Engine, a venture firm spun out of 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, kilns and furnaces, this approach is inherently efficient and therefore low cost. The funding will accelerate Mantel’s technology development, prototype testing, and initial deployment. Additionally, the expansion of the Carbon Capture Tax Credit in the new Infrastructure Reduction Act greatly increases the opportunity for Mantel.
Molten salts of the mantle selectively absorb CO2 and regenerate a net stream of CO2 that can either 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 advantage to carrying out the sequestration process at higher temperatures and addressing thermodynamics is the only way to significantly reduce the cost of carbon capture,” said Cameron Halliday, co-founder and CEO of Mantel. “Using liquid phase chemistry we can overcome the challenges of pursuing 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 difficult industries such as industrial heating, cement, steel and hydrogen. This also applies to geographies where coal-fired power and natural gas are likely to remain dominant for decades. Additionally, the technology can be used to remove carbon dioxide from the atmosphere by combining bioenergy, waste-to-energy, and biogenic sources of emissions such as pulp and paper. Because organic matter pulls 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), more than 10 billion tons of carbon dioxide needs to be reduced to net zero by 2070, which means a global market worth hundreds of billions of dollars. “Carbon capture is essential to meeting the world’s climate goals and low-cost solutions are critical for countries and companies to meet net zero emissions goals,” said Michael Kearney, partner at The Engine and newly appointed board member of Mantel. “To drive decarbonization in strategic energy-intensive industries, low-cost carbon capture is a critical requirement, and Mantel’s system has the potential to significantly reduce the cost of carbon capture. Net zero emissions can be a cost-efficient, achievable reality.”
Founded in 2022 by Cameron Halliday, CEO, Daniel Colson, COO, and CTO Sean Robertson, Mantel was spun out of MIT and completed research with professors T. Alan Hatton and Takuya Harada. After lab-scale flow loop demonstration is achieved, the company plans to use the new capital to build a commercial-scale demonstration plant.
Mantel is developing the first molten salt-based carbon capture technology. Our materials are designed to operate at the high temperatures found in boilers, kilns and furnaces – enabling highly efficient carbon capture not previously possible. Carbon capture can be implemented across industries to reduce emissions – and net-negative emissions can also be achieved. By solving for efficiency, 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, visit: https://www.mantelcapture.com/
About the engine
Engine, a spin-out from MIT, invests in early-stage companies solving the world’s biggest problems through the convergence of breakthrough science, engineering and leadership. We accelerate the path to market for tough tech companies through a combination of capital, infrastructure, and network. Engine is headquartered in Cambridge, MA. For more information, visit www.engine.xyz.
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