Climate tech startup Mantel to use molten salt to capture factory flue CO2 with $30 million funding from Shell, VCs
The $30 million raised in the Series A round will allow Mantel to build a demonstration project at a paper mill that can capture 1,800 metric tons of emissions a year, around 10 times more than the half a ton a day captured in a laboratory setting.
SAN FRANCISCO/LONDON, Sept 5 (Reuters) - European oil majors Shell (SHEL.L) and Eni (ENI.MI) have led an early stage funding round for climate technology start-up Mantel Capture, which aims to use molten salts to capture carbon dioxide emissions at refineries, factories and other industrial sites.
Capturing carbon where it is produced, or "point source" capture, allows polluters to reduce emissions and retain existing, expensive infrastructure, although it has been criticized by some environmentalists for perpetuating emissions.
Boston-based M( article continues at Reuters )