Shell Partners with Innovative Start-Up for Emission Solutions
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Shell PLC Collaborates with Mantel Capture
Shell PLC (NYSE: SHEL) has joined forces with ENI S.p.A. (NYSE: E) in a significant financing effort, providing crucial funding to Boston-based climate technology start-up Mantel Capture. This partnership aims to enhance methods for reducing carbon dioxide emissions, particularly from industrial sites.
Innovative Technology for Carbon Capture
Mantel Capture is pioneering a groundbreaking approach using molten salts to effectively capture carbon dioxide emissions sourced from refineries and factories. The company is confident that its technology can achieve a remarkable 95% extraction rate from smokestack emissions.
Cost-Effective Emission Solutions
The method designed by Mantel Capture is touted as being cost-effective, as it leverages the high temperatures in industrial furnaces and boilers. This significantly reduces the extra energy required compared to traditional carbon capture technologies, making it an attractive solution for industries seeking to reduce their carbon footprint.
Funding Secured for Demonstration Projects
Recent reports indicate that Mantel Capture successfully raised $30 million in a Series A funding round. This capital will facilitate the development of a demonstration project at a paper mill, aspiring to capture an impressive 1,800 metric tons of emissions annually, which is a considerable leap from the half ton per day achieved in laboratory tests.
Industry Perspectives on Carbon Capture
Cameron Halliday, CEO of Mantel, expressed his optimism about the potential impact of this technology on the energy sector, mentioning, "This is a technology that could radically change the energy industry, but there is still risk to what we’re doing.” He further noted that when scaled up, Mantel could capture carbon at a cost of approximately $30 to $50 per ton, revealing a viable path for adoption in regions where carbon capture incentives or emissions taxes exist.
The View from Shell Ventures
According to Hector MacQuarrie, a principal at Shell Ventures, the company plans to observe pilot projects closely before fully committing to this innovative technology. He acknowledged the potential for this technology to significantly enhance carbon capture in sectors that face challenges in decarbonization.
Investment Opportunities in Energy Transition
Investors looking to engage with Shell can do so through offerings such as the Macquarie ETF Trust Macquarie Energy Transition ETF (NYSE: PWER) and the VanEck Natural Resources ETF (NYSE: HAP). These funds provide avenues for gaining exposure to the evolving landscape of energy and sustainability.
Market Movements
As of the latest updates, SHEL shares have experienced a slight decrease of 0.28%, valued at $68.32. Investors are keenly watching this innovative partnership to assess its impact on future market dynamics.
Frequently Asked Questions
What is Mantel Capture's innovative technology?
Mantel Capture uses molten salts to capture up to 95% of carbon from emissions, aiming to transform carbon capture solutions for industries.
Why is this technology considered cost-effective?
It exploits the high temperatures in industrial processes, minimizing the energy needed compared to traditional carbon capture methods, making it more viable economically.
How much funding did Mantel Capture secure?
The company successfully raised $30 million in a Series A funding round to develop a demonstration project capable of capturing significant carbon emissions.
What are the anticipated benefits of this collaboration?
This collaboration between Shell and Mantel Capture aims to advance carbon capture technologies for hard-to-decarbonize industries, potentially changing the energy landscape.
How can investors engage with Shell?
Investors can consider ETFs like the Macquarie Energy Transition ETF (NYSE: PWER) and the VanEck Natural Resources ETF (NYSE: HAP) for exposure to Shell.
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