202302 Aug

Raises Oversubscribed Series A Round to Develop Revolutionary Carbon Capture Technology

Summary

CMSs modular, fully electrified, and cost-effective solutions are designed to be contaminant resistant, low energy, and easy to use, eliminating the need for regeneration, steam, or chemical solvents.Positioned to be a game-changer in efficiently and sustainably reducing up to 1 gigaton of carbon emissions in heavy industry by 2040, CMS membranes are enabling the equitable creation of the materials we use while preserving the planet we need.CMSs Series A funding will accelerate the development and commercialization of their olefins and carbon capture solutions, with the goal of delivering a low-cost, fully electrified solution by 2026.CMSs innovation in carbon capture technology follows its successful demonstration of the technology platform for olefins separation, a bolt-on solution for chemical plants to economically boost production from existing systems while reducing GHGs by up to 70% compared to distillation columns.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. CMSs breakthrough OptipermTM platform provides bolt-on, modular solutions for existing facilities to reduce energy consumption and greenhouse gas emissions, expand capacity, and deliver new sources of revenue. For more information about CMS and its technology, please visit www.compactmembrane.com.Pangaea Ventures is the world leader in hard tech and impact investing, with offices in Vancouver, B.C., Canada and Phoenix, AZ, USA. Solvay Ventures targets early stage investment opportunities (Seed through Series B) with a focus on startups addressing sustainable resources, energy transition, health and well-being, and digital age. Operating in 35 countries, our 15,000 people are fully committed to bringing our clients innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.

Source: Compactmembrane

Funding

$16.5M
Amount
Aug 02 2023
Date
-
Investor
Compact Membrane Systems
Company

Classifications

Companies