A French natural hydrogen exploration company, Mantle8, has raised €3.4 million in a seed funding round. The investment came from Kiko Ventures, Breakthrough Energy Ventures Europe (BEV-E), and angel investors. Mantle8 plans to use the capital to run a pilot project to image and quantify hydrogen systems in the ground.
They will also expand their team by hiring new AI and geochemistry experts. The company’s technology combines geophysics, geochemistry, and seismic data to accurately detect natural hydrogen locations for extraction. They aim to visualize the entire hydrogen generating system to evaluate the amount and quality of hydrogen present.
Natural hydrogen is produced by nature when water reacts with iron-rich rocks underground. It does not require energy-intensive separation processes like conventional hydrogen production methods. Industries worldwide are seeking sustainable alternatives for hard-to-decarbonize sectors like steel, cement, and aviation.
Natural hydrogen has the potential to eliminate the green premium and become a sustainable solution for achieving net-zero goals.
mantle8’s paradigm shift in hydrogen
Some companies experimentally drill for natural hydrogen based on surface or former drill hole indications.
However, Mantle8 believes its approach of analyzing the Earth’s subsurface is more effective. By 2030, Mantle8 aims to find 10 million tonnes of natural hydrogen. This would complement the EU goal of producing and importing the same amount of hydrogen generated from renewable energy.
Emmanuel Masini, Founder and CEO of Mantle8, stated: “Our science-first approach represents a paradigm shift in hydrogen exploration. It makes hydrogen discovery more scalable, accurate, faster, and profitable. With the support of our investors, we now have the fuel to move at the necessary pace.”
Rob Trezona from Kiko Ventures commented: “Most existing approaches to natural hydrogen extraction are based on trial and error, but Mantle8’s proprietary technology is based on rigorous science.
We are big believers in the hydrogen economy and exited our last investment in hydrogen at over a billion; this could be even more valuable.
Carmichael Roberts of Breakthrough Energy Ventures added: “Mantle8’s expansive regional knowledge and geology-based approach to natural hydrogen exploration puts the company in a strong position to make affordable hydrogen a reality in Europe. With its team of experienced geologists and its bottom-up exploration approach, Mantle8 will have a significant impact on transforming hydrogen discovery.”
This funding marks a crucial step towards making affordable and sustainable hydrogen a reality. It positions Mantle8 at the forefront of natural hydrogen exploration.
