What is Mantel?
Founded in 2022 and headquartered in Cambridge, Massachusetts, Mantel is dedicated to creating a suite of solutions designed to mitigate emissions within challenging industrial sectors. Its technology is applicable to hard-to-abate geographies where traditional energy sources are likely to persist for decades. Furthermore, Mantel's platform can be leveraged for atmospheric carbon dioxide removal by integrating with biogenic emission sources such as bioenergy, waste-to-energy, and pulp & paper processes. The core of their innovation lies in proprietary molten salts that selectively absorb CO2, yielding a pure stream for storage or utilization.
How much funding has Mantel raised?
Mantel has raised a total of $32M across 2 funding rounds:
Angel/Seed
$2M
Series A
$30M
Angel/Seed (2022): $2M with participation from The Engine
Series A (2024): $30M led by Hartree Partners, New Climate Ventures, and Shell Ventures
Key Investors in Mantel
The Engine
The Engine, built by MIT, is a venture firm investing in the next generation of Tough Tech, focusing on transformative technologies for human health, climate change, and advanced systems. They aim to unlock opportunities for a more sustainable world by transforming industry foundations.
Hartree Partners
Hartree Partners, LP is a global merchant commodities firm based in New York, specializing in energy and associated industries. They focus on identifying value across the commodity supply chain and anticipating market opportunities.
New Climate Ventures
New Climate Ventures (NCV) is an investment firm backing early-stage startups transforming resource production, power, and consumption. They offer operational guidance, investment, and access to a global network for companies contributing to carbon reduction.
What's next for Mantel?
The recent major strategic investment positions Mantel for accelerated growth and market penetration. With a focus on hard-to-abate industries, the company is poised to address significant environmental challenges. This capital infusion will likely fuel further research and development, scale manufacturing capabilities, and expand its commercial outreach. Mantel's trajectory suggests a pivotal role in the global effort towards industrial decarbonization and carbon removal, potentially setting new benchmarks for emissions reduction technologies.
See full Mantel company page
