Carbon capture start-up Compact Membrane Systems, Newport, announced the 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 solution designed for carbon capture in sectors like steel, cement, and other kiln-process operators, representing more than 11% of worldwide emissions.
For decades, traditional carbon capture technologies relied on expensive and energy-intensive processes. CMS’s modular, fully electrified solutions are designed to be contaminant resistant, low energy, and easy to use, eliminating the need for regeneration, steam, or chemical solvents.
CMS’s Series A funding will accelerate the development and commercialization of their olefins and carbon capture solutions, to deliver 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 solution for chemical plants to economically boost production from existing systems.
“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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