What is Mantel?
Founded in 2022, Mantel is a climate technology firm specializing in the development of molten salt-based platforms for carbon dioxide capture. The company's core technology selectively absorbs CO2 from industrial processes, such as steel and cement production, and regenerates a pure stream of the gas for storage or utilization. This approach is particularly critical for hard-to-abate industries and regions where fossil fuel reliance remains entrenched. By providing a scalable solution for both industrial heat and atmospheric carbon removal, Mantel occupies a vital niche in the global energy transition, offering a pathway to decarbonize sectors that are essential to the modern economy but difficult to transition to renewable energy sources.
How much funding has Mantel raised?
Mantel has raised a total of $50M across 3 funding rounds:
Angel/Seed
$2M
Series A
$30M
Unspecified
$18M
Angel/Seed (2022): $2M with participation from The Engine
Series A (2024): $30M led by Shell Ventures, New Climate Ventures, and Hartree Partners
Unspecified (2026): $18M supported by Azimut Investments and Constellation
Key Investors in Mantel
Shell Ventures
A corporate venture arm focused on investing in startups that accelerate the energy transition and support the development of sustainable industrial technologies.
New Climate Ventures
An investment firm dedicated to early-stage startups that transform resource production and consumption, with a specific focus on carbon reduction and avoidance.
Hartree Partners
A global merchant commodities firm that identifies value across the energy supply chain and invests in opportunities that anticipate shifts in industrial production and consumption.
What's next for Mantel?
With the successful closure of this major strategic investment, Mantel is expected to focus on the commercialization of its molten salt technology. The company will likely prioritize the deployment of its systems within high-emission industrial facilities, leveraging the expertise of its diverse investor base to navigate complex supply chains and regulatory environments. Future milestones will likely include the expansion of its engineering team and the establishment of strategic partnerships with major industrial players to validate the technology at scale. As the global demand for carbon capture and storage (CCS) solutions intensifies, Mantel's ability to integrate its technology into existing infrastructure will be a key determinant of its long-term market leadership.
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