Mantel
- Company typePrivate
- Founded2022
- HeadquartersCambridge, United States
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What Mantel does
Mantel Capture, Inc. is a venture-backed climate technology company founded in 2022 as an MIT spinout and headquartered in Cambridge, Massachusetts, with an operational presence in Calgary, Canada. The company develops a proprietary high-temperature molten borate liquid-phase carbon capture system designed to operate directly inside industrial boilers, kilns, and furnaces at temperatures up to 600°C. Unlike conventional carbon capture systems that require cooling and reheating of CO2 streams — a process that imposes large energy penalties and economic costs — Mantel's molten salt loop captures CO2 at process temperature while continuously recovering thermal energy as high-pressure steam that is fed back into the host facility's steam header. The technology claims 97% lower energy losses than conventional capture, CO2 purity exceeding 99.9%, capture rates up to 98%, and target capture costs below $50 per tonne at scale (vs. industry average above $100/tonne).
Mantel generates revenue through project-based custom sales and licensing of its carbon capture systems to heavy industrial operators across power generation, oil & gas (SAGD), pulp & paper, coal-fired power, BECCS, and emerging hard-to-abate sectors including cement, steel, hydrogen, and ammonia. The company employs an enterprise field sales motion with engineering-led sales cycles involving FEED studies and custom integration, supported by strategic partnerships with Wood Group (preferred integration partner), Babcock & Wilcox, Sargent & Lundy, and Advanced Resources International. Mantel has raised $32M in total funding ($2M seed in August 2022 led by The Engine and New Climate Ventures; $30M Series A in September 2024 led by Shell Ventures and Eni Next with bp Ventures and a broader syndicate). Active projects include the D-1 demonstration at Kruger Inc.'s Wayagamack Pulp & Paper mill in Quebec (2,000+ tonnes CO2/year, 1 MW steam), the M-10 commercial SAGD project in Western Canada (~60,000 tonnes CO2/year, ~150,000 tonnes steam/year), and selection as the carbon capture technology partner for the 1.6 GW TerraSpark Energy Campus in West Virginia ($18.5M DOE-backed).
Mantel firmographics
Firmographics- Name
- Mantel
- Legal name
- Mantel Capture, Inc.
- Website
- https://mantelcapture.com
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
Mantel industry classification
Industry- Product category
- Industrial Carbon Capture Systems
- NAICS
- Power Boiler and Heat Exchanger Manufacturing (33241), Power Boiler and Heat Exchanger Manufacturing (332410), Steam and Air-Conditioning Supply (22133), Steam and Air-Conditioning Supply (221330), Industrial Process Furnace and Oven Manufacturing (333994)
- SIC
- Cogeneration Services & Small Power Producers (4991), Industrial Process Furnaces & Ovens (3567), Fabricated Plate Work (Boiler Shops) (3443), Gaskets, Packg & Sealg Devices & Rubber & Plastics Hose (3050)
- akta.pro primary industry
- Post-combustion Capture Systems (Solid Sorbents & Structured Adsorbents) (EUABAGAB)
- akta.pro secondary industries
- Waste Heat Recovery & Heat Integration (HRSG/ORC, Pinch Analysis, Heat Exchangers) (EUABAJAF), Industrial Process CHP (Refineries, Chemicals, Pulp & Paper, Metals) (EUACAKAI), Industrial Heat Pumps & Mechanical Vapor Recompression (Low–Mid Temp Heat) (EUABAJAB), Thermal Power Plant EPC (Gas/Coal/Oil) (EUAEAAAA)
Keywords
Where Mantel is headquartered
LocationHeadquarters
- HQ city
- Cambridge
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Mantel business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Personnel, Technology or R&D, Operations, Supply Chain, Marketing or Sales, Infrastructure
Revenue model
- Carbon Capture System Sale / Integration: Mantel sells or licenses its proprietary molten-borate carbon capture systems to industrial operators. Revenue is generated through technology licensing fees, equipment sales, and integration/commissioning services. The company designs and deploys custom systems for each industrial application (pulp & paper, SAGD, coal-fired power, etc.), with recurring revenue potential from ongoing support, spare parts, and system optimization.
- Steam Co-generation / Energy Recovery: The capture system generates high-pressure steam as a byproduct, which is fed into host facilities' existing steam headers. This co-generation of steam creates additional value for customers and supports system ROI, differentiating Mantel from conventional capture solutions.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Project-based custom pricing for industrial carbon capture installations |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels6 records
Mantel product offering
Product offeringCore offering
Mantel develops and sells a proprietary high-temperature molten borate liquid-phase carbon capture system that operates directly inside industrial boilers, kilns, and furnaces at temperatures up to 600°C. The system captures CO2 while continuously recovering thermal energy as high-pressure steam that is fed back into the host facility, eliminating the energy-wasting cooling and reheating steps required by conventional capture systems. Mantel designs, engineers, and deploys custom carbon capture installations for heavy industrial operators in power generation, oil & gas (SAGD), pulp & paper, and other hard-to-abate sectors.
Product overview
Mantel offers a single unified product: its high-temperature molten borate carbon capture system. This liquid-phase system uses a proprietary molten borate salt loop to capture CO₂ at extreme temperatures directly inside industrial facilities (boilers, kilns, furnaces) while recovering thermal energy as usable high-pressure steam. The system is deployed across multiple project types: the D-1 demonstration project at Kruger's Wayagamack Mill (capturing 2,000+ tonnes CO₂/year) and the M-10 commercial SAGD project (capturing 60,000 tonnes CO₂/year). Sector-specific applications span boilers/OTSGs, combined heat & power, natural gas combined cycle, bioenergy (BECCS), and coal-fired power. The company is developing solutions for hard-to-abate industries including cement, steel, aluminum, glass, ceramics, hydrogen, and ammonia.
Differentiator
Problem solved
Functional benefit
Products and services
- High-Temperature Molten Borate Carbon Capture System Proprietary high-temperature, liquid-phase carbon capture system using a molten borate salt loop. Operates at extreme temperatures (up to 600°C) already present inside industrial facilities (boilers, kilns, furnaces), capturing CO2 while recovering thermal energy as high-pressure steam fed back into the host facility. Designed for direct integration into existing industrial operations.
- DEMO (D-1) - Kruger Wayagamack Demonstration Project Mantel's first operating deployment of its molten borate carbon capture system inside a commercial industrial facility. Rated to capture over 2,000 tonnes of CO2 per year and generate 1 MW of steam for the host pulp & paper mill's main steam header.
- Commercial OTSG (M-10) - SAGD Project Commercial-scale integration of Mantel's molten borate capture system into existing steam-assisted gravity drainage (SAGD) operations in central-western Canada. Will capture approximately 60,000 tonnes of CO2 and generate 150,000 tonnes of high-pressure steam annually.
Quantifiable outcome
- 97% lower energy losses compared to conventional carbon capture
- +7 more outcomes
Companies that use Mantel
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles3 records
Mantel technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Mantel partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered flagship and core.
- TerraSpark Energy CampusflagshipMantel serves as the carbon capture technology partner for the proposed TerraSpark Energy Campus — a 1.6 GW coal-fired power and carbon capture project in Grant County, West Virginia. The project received $18.5M in DOE funding. Mantel's molten borate technology will capture up to 98% of CO2 emissions from the facility. The consortium includes Sargent & Lundy, Babcock & Wilcox, and Advanced Resources International.
- Wood GroupcoreWood Group signed a memorandum of understanding with Mantel to serve as its preferred fired-equipment integration partner, accelerating deployment of Mantel's high-temperature carbon capture technology for industrial applications. The partnership is advancing Mantel's first commercial project at a SAGD facility in Western Canada, where Wood will provide engineering and equipment integration. Backed by major energy investors Shell Ventures and bp Ventures.
- Alberta InnovatescoreAlberta Innovates supported the initiation of a front-end engineering design (FEED) study for Mantel's commercial-scale carbon capture project in Canada. The project integrates Mantel's molten borate capture system into existing SAGD operations in Alberta to capture approximately 60,000 tonnes of CO2 annually.
- Kruger Inc.coreMantel partnered with Kruger Inc. to install its first operating deployment (D-1) at Kruger's Wayagamack Pulp & Paper mill in Trois Rivières, Quebec. This demonstration project captures over 2,000 tonnes of CO2 per year and generates 1 MW of steam for the mill. Backed by Canadian government investment.
- Babcock & WilcoxcoreBabcock & Wilcox (B&W) partnered with Mantel to supply supercritical boilers and emissions control equipment for the TerraSpark Energy Campus project in West Virginia, integrating Mantel's carbon capture technology. B&W is a major player in energy generation technology.
- Sargent & LundycoreSargent & Lundy is part of the TerraSpark Energy Campus project consortium, providing engineering and design support for the 1.6 GW coal-fired power and carbon capture project alongside Mantel's technology.
- Advanced Resources InternationalcoreAdvanced Resources International is part of the TerraSpark Energy Campus project consortium supporting the development and engineering of the large-scale coal-fired power and carbon capture project in West Virginia.
Scale indicators10 records
Recent moves6 records
Expansion highlights7 records
Mantel competitors and assessment
Company assessmentDirect peers
- CarbonCapture Inc. California-based developer of industrial-scale point-source post-combustion carbon capture systems. Direct competitor to Mantel in supplying capture technology to heavy industrial emitters, with overlapping customer segments in cement, power, and gas processing.
- ION Clean Energy: U.S. developer of proprietary solvent-based post-combustion CO2 capture technology targeted at industrial and power-generation applications. Highly comparable to Mantel in addressing point-source industrial capture economics, though using amine-based rather than molten-salt chemistry.
- Aker Carbon Capture: Norwegian carbon capture specialist spun out of Aker Solutions, offering amine-based post-combustion systems for cement, power, and industrial applications. Direct peer with deeper commercial track record and comparable target customer base.
- Carbon Clean: UK-based provider of modular post-combustion carbon capture solutions using its proprietary CycloneCC technology for industrial emitters. Direct peer targeting similar hard-to-abate sectors with a similar licensed/equipment sale business model.
Emerging players
- C2CNT: U.S. startup developing a molten electrolysis process that converts CO2 emissions directly into carbon nanotubes, providing an alternative point-source capture pathway for industrial emitters. Emerging peer with overlapping industrial customer pipeline and similar climate-tech funding profile.
- Climeworks: Swiss direct air capture company operating the world's largest DAC facility in Iceland. Competes with Mantel for capital, policy support, and CDR-related corporate offtake, but addresses atmospheric rather than point-source emissions.
- Heirloom Carbon: California-based DAC company using limestone-based capture technology. Adjacent competitor in the broader carbon removal market, competing for the same pool of corporate CDR buyers and DOE-backed deployment funding.
- LanzaTech: U.S.-headquartered carbon capture company using gas-fermentation technology to convert industrial off-gases into fuels and chemicals. Targets overlapping industrial customers (steel, gas processing) with a different capture pathway but comparable decarbonization value proposition.
Broad incumbents
- JGC Corporation: Large Japanese engineering, procurement, and construction firm with active CO2 capture project development, including hydrogen and ammonia plant integrations. A broad incumbent executing on similar industrial decarbonization projects, including some that integrate Mantel-adjacent technologies.
- SLB Capturi: Joint venture between SLB and Aker Carbon Capture delivering industrial-scale carbon capture solutions, including the amine-based Just Catch technology. Operates as a broad incumbent in the same point-source capture market Mantel targets.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Mantel social profiles
Digital presenceMantel financial estimates
Financial estimateRevenue estimate
Valuation estimate
Mantel leadership team
Management profileNumber of profiles
Profiles8 records
Mantel funding detail
Funding detailFunding overview
Funding rounds4 records
Investors17 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Mantel M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Mantel
What does Mantel do?
Mantel develops and sells a proprietary high-temperature molten borate liquid-phase carbon capture system that operates directly inside industrial boilers, kilns, and furnaces at temperatures up to 600°C. The system captures CO2 while continuously recovering thermal energy as high-pressure steam that is fed back into the host facility, eliminating the energy-wasting cooling and reheating steps required by conventional capture systems. Mantel designs, engineers, and deploys custom carbon capture installations for heavy industrial operators in power generation, oil & gas (SAGD), pulp & paper, and other hard-to-abate sectors.
Is Mantel a public or private company?
Mantel is a private company. It is classified as venture growth investor backed and is currently operating.
When was Mantel founded?
Mantel was founded in 2022. It employs 11 to 50 people.
Where is Mantel based?
Mantel is headquartered in Cambridge, United States, in the North America region.
How does Mantel make money?
Two revenue lines are on record. Carbon Capture System Sale / Integration is the primary driver. The others are steam Co-generation / Energy Recovery.
Who are Mantel's main competitors?
Direct peers on record are CarbonCapture Inc., ION Clean Energy, Aker Carbon Capture and Carbon Clean. Emerging players are C2CNT, Climeworks, Heirloom Carbon and LanzaTech. Broad incumbents are JGC Corporation and SLB Capturi.
Does Mantel have an API?
No public API is recorded for Mantel.
What industry is Mantel in?
Mantel's product category is Industrial Carbon Capture Systems. Its primary akta.pro industry code is EUABAGAB, Post-combustion Capture Systems (Solid Sorbents & Structured Adsorbents), with a secondary code of EUABAJAF, Waste Heat Recovery & Heat Integration (HRSG/ORC, Pinch Analysis, Heat Exchangers). Its NAICS code is 33241 and its SIC code is 4991.