Compact Membrane Systems Raises Oversubscribed Series A Round To Develop Revolutionary Carbon Capture Technology

Compact Membrane Systems (CMS), a pioneer in advanced membrane technology, is pleased to announce the successful completion of an oversubscribed Series A funding round of $16.5 million. The round was led by Pangaea Ventures and included GC Ventures, Solvay Ventures, Chevron Technology Ventures, and Technip Energies.

CMS membranes are a breakthrough solution designed for carbon capture in hard-to-abate sectors like steel, cement, and other kiln-process operators that represent over 11% of worldwide emissions. For decades, traditional carbon capture technologies relied on expensive and energy-intensive processes. CMS’s modular, fully electrified, and cost-effective solutions are designed to be contaminant resistant, low energy, and easy to use, eliminating the need for regeneration, steam, or chemical solvents. 

“We are delighted to have secured such a strong group of investors who share our vision for delivering a revolutionary carbon capture technology for industrial applications,” said Erica Nemser, CEO of Compact Membrane Systems. “This oversubscribed funding round catalyzes our ability to deliver large projects. Deployment of our commercial systems by 2026 will have measurable environmental and economic benefits to our customers and society.”

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Positioned to be a game-changer in efficiently and sustainably reducing up to 1 gigaton of carbon emissions in heavy industry by 2040, CMS membranes are enabling the equitable creation of the materials we use while preserving the planet we need.

CMS’s Series A funding will accelerate the development and commercialization of their olefins and carbon capture solutions, with the goal of delivering a low-cost, fully electrified solution by 2026.

CMS’s innovation in carbon capture technology follows its successful demonstration of the technology platform for olefins separation, a bolt-on solution for chemical plants to economically boost production from existing systems while reducing GHGs by up to 70% compared to distillation columns.

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CMS is the second investment of Pangaea Ventures’ new fund, Pangaea Ventures Impact Fund, LP. “We are excited to support CMS as they work to bring their innovative carbon capture technology to market,” said Chris Erickson, Partner at Pangaea Ventures. “Their technology has the potential to significantly reduce carbon emissions from industrial processes, and we look forward to seeing their continued progress.”

“GC is excited to be part of CMS’s journey as their team continues to innovate and commercialize their technology,” said Kamel Ramdani, CTO of PTT Global Chemical Public Company Limited (GC) and President of GC Ventures America. “CMS’s platform technology has the potential not only to help GC and the GC ecosystem achieve net-zero goals, but also make a significant impact on reducing industrial emissions at a global scale.”

Solvay Ventures, the venture capital arm of Solvay, a global leader in advanced materials and specialty chemicals, also participated in the funding round. “At Solvay, we are committed to driving progress and delivering sustainable solutions to the world’s most pressing challenges,” said Coppelia Marincovic, Partner of Solvay Ventures. “CMS’s low energy approach using advanced materials aligns with our mission to reinvent the chemicals industry and find new pathways of using CO2 to produce materials of the future. We are thrilled to support their efforts in this space.”

Read more: The Top 10 Carbon Capture Companies In 2023!

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