What is Mantel?
Founded in 2022, Mantel operates at the intersection of material science and climate technology. The company has developed a sophisticated platform utilizing molten salts that selectively absorb carbon dioxide, allowing for the regeneration of a pure CO2 stream suitable for storage or industrial utilization. This technology is specifically engineered for hard-to-abate sectors, including steel, cement, and industrial heat production, as well as for carbon dioxide removal when paired with biogenic emission sources.
By targeting geographies where fossil fuel reliance remains entrenched, Mantel provides a pragmatic pathway to net-zero goals without requiring an immediate, total overhaul of existing energy infrastructure. Its market position is defined by its ability to integrate into current industrial processes, offering a bridge technology that is both economically viable and technically robust.
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 Shell Ventures, New Climate Ventures, and Hartree Partners
Key Investors in Mantel
Shell Ventures
Shell Ventures is the corporate venture capital arm of Shell, focusing on investing in startups that can accelerate the energy transition through innovative technology and sustainable solutions.
New Climate Ventures
New Climate Ventures is an investment firm dedicated to early-stage startups that aim to transform resource production and consumption, with a specific focus on carbon reduction and avoidance.
Hartree Partners
Hartree Partners is a global merchant commodities firm that specializes in energy and associated industries, leveraging deep market expertise to identify value across the global supply chain.
What's next for Mantel?
With the successful closure of this Series A round, Mantel is expected to prioritize the commercialization of its molten salt capture systems. The strategic involvement of energy-focused investors suggests a roadmap centered on pilot projects and industrial partnerships that validate the technology at scale. Future growth will likely focus on expanding the company's operational footprint and refining its supply chain to meet the increasing demand for carbon management solutions in heavy industry.
As the global regulatory landscape shifts toward stricter carbon accountability, Mantel's ability to provide a pure, manageable CO2 stream will be a critical differentiator. The company is now tasked with demonstrating long-term durability and cost-efficiency in real-world industrial environments, a move that will be essential for securing future growth capital and establishing itself as a leader in the climate tech ecosystem.
