1.23.24-Japan-Mantel

CAMERON HALLIDAY: Hello, everyone. It's a pleasure to be here. My name is Cameron Halliday. I'm the CEO and cofounder at Mantel. I earned my PhD in chemical engineering from MIT and my MBA from the Business School, MIT Sloan.

And at Mantel, we are developing the material solution to carbon capture. Our technology enables the highly efficient removal of CO2 at the source, cutting the cost of decarbonizing heavy industry in half.

Now, these industries dominate global CO2 emissions, and carbon capture has a critical role to play-- thank you-- in decarbonizing hard to abate sectors. All of this captured CO2 then needs to be transported, either for utilization, converting it into a valuable product; or sequestration, putting the carbon back underground. But the capture step dominates cost. And the lowest-cost capture technology can unlock this industry as a cost-effective way to decarbonizing the world.

At Mantel, we have developed and patented the first high-temperature liquid phase carbon capture materials. Our molten borate technology enables the highly efficient removal of CO2. This innovation means we're able to do carbon capture at exceedingly low costs.

This graph shows an example process-- the generation of steam, the means by which heat is transferred through industry. And you have three different pathways to decarbonizing this.

You can use carbon capture with a state of the art amine technology, which would increase the cost of generating steam by 80%, whereas, with Mantle's technology, we cut that in half, to less than 40%. That's lower cost than electrification, even at $30 a megawatt hour, and that's cheaper than green hydrogen, even at $1 a kilogram, both of which need to be clean and delivered to the site.

So these are bold claims. Where are we in our journey? So this work began with the discovery of these materials at MIT, and we went on to build a shoebox-sized system to demonstrate the concept. We founded Mantle to scale up. We've done a 10,000X scale up to a half a ton a day capture system operating in our lab at The Engine in Boston.

We've just finished-- or just started procuring our demonstration project that captures 5 tons of CO2 per day, and we've just completed a design study for a 50 ton a day commercial unit. From there, we plan to build systems anywhere from 50 to 5,000 tons a day, across all of those industries and every geography.

This is a picture of the system operating in our lab. This captures at a rate of half a ton of CO2 a day, with 98% removal efficiency. This is a 14-foot-tall absorber column, about 3 and 1/2 meters tall. The liquid salt flows down the column, the gas flows up, and the liquid removes the CO2.

This is our demonstration project. This is essentially a new build-- natural gas-fired boiler that has our carbon capture technology integrated into it, so it captures its own CO2 emissions. We're partnering with a pulp and paper company, Kruger, to decarbonize part of their site in Quebec and working with the engineering partner Zeton. We're targeting to have this new system operational by the end of 2025.

This is a 10X scale up on that system and what a first commercial unit looks like. This system generates 10 megawatts of steam and captures 50 tons of CO2 a day. We've just completed a design study with wood, and we're looking for partners to site this first commercial project.

So we have strong ties to Japan. This research was actually carried out with Takuya Harada-san who was a visiting student-- or a visiting professor at MIT and is now a professor at Tokyo Technical University. Mantle actually continues to support Takuya's research in optimizing and further developing the molten borate carbon capture technology.

We also have a vision for deploying our technology in Japan, and we're in early conversations with a number of industrial partners and always looking for more partners across the industrial space, including chemical, cement, steel, glass, and many others. The other side of this is we're looking for engineering partners to help us scale and deploy these projects with assurance to the customer that it'll perform in a cost-effective manner.

So if carbon capture is a potential pathway to decarbonizing your business or your industry, please reach out and let me know. We start with conceptual design studies. We then do pre-feed and front-end engineering design studies to get assurance around cost. And then we make a final investment decision, working with the engineering partners and the site to build a carbon-capture solution.

Thank you very much for your attention, and please find me afterwards if you have any questions. Thank you.

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