Carbon capture technology developer Mantel has raised $18 million in a strategic investment round led by Constellation Technology Ventures (CTV) and Azimut Investments, alongside existing backers.
The round brings Mantel’s total funding to $50 million and aims to accelerate the commercial deployment of its molten-borate carbon capture technology across heavy industrial sectors in North America and Europe.
Unlike traditional carbon capture systems that face high capital costs and integration complexities, Mantel utilizes a modular, systems-engineering design.
This approach is structured to lower capital intensity, simplify on-site installation, and allow direct integration with existing industrial plant infrastructure without disrupting operations.
Company CEO Cameron Halliday stated that the new funding focus centers on execution speed and partner collaboration to build out large-scale energy infrastructure projects.
Strategic Capital Supports North American Industrial Rollouts
The participation of CTV – the venture arm of major US clean energy producer Constellation – highlights growing demand across the power sector for reliable industrial decarbonization solutions.
Concurrently, global investment firm Azimut brings international project finance capabilities to support Mantel’s planned market expansion outside North America.
Relevant: Mantel Partners With Aalborg CSP To Modularize Molten Salt Carbon Capture
The newly raised funds will directly support Mantel’s active project pipeline across the power generation, oil and gas, and pulp and paper sectors. Key active developments include:
- TerraSpark Energy Campus: Providing carbon capture technology for a 1.6-gigawatt facility in West Virginia.
- Kruger Wayagamack Mill: Deploying technology at Kruger’s industrial facility in Québec, Canada.
- Canadian Energy Producers: Partnering on capture projects with major Canadian oil and gas operators.
Mantel plans to use the capital to further expand its project development queue while offering heavy industries a method to reduce emissions without compromising operational affordability.
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